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[{"FundDetailTitle":"Credit Absolute Return Fund E - Acc","CUSIP":"G7098D565","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Credit Absolute Return Fund E EUR (Hdg) - Acc","CUSIP":"G7098D573","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Credit Absolute Return Fund G EUR (Hdg) - Inc","CUSIP":"G7S046647","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Credit Absolute Return Fund Inst - Acc","CUSIP":"G7098B643","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Credit Absolute Return Fund Inst - Acc","CUSIP":"G7098B643","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Credit Absolute Return Fund Inst EUR (Hdg) - Acc","CUSIP":"G7098B635","TabExclusion":"portfolio|documents"},{"FundDetailTitle":"Credit Absolute Return Fund Inst EUR (Hdg) - Income II","CUSIP":"G7098H350","TabExclusion":"portfolio|documents"}]
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Credit Absolute Return Fund Inst - Acc

Article Introduction

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  • About this Fund
  • Performance

Objective
The Credit Absolute Return Fund is a diversified absolute return-oriented global credit strategy that is not tethered to benchmark-specific guidelines. The fund has significant discretion to allocate across a broad range of global credit sectors, and it is designed to offer the flexibility to actively adjust long and short credit exposures to target opportunities in any market environment while providing proactive downside risk mitigation.

At a Glance
ISIN IE00B3N0PT13
Bloomberg Ticker PIMCIUA
Fund Total Net Assets 251,282,429.65 USD
Management Fees (%) 0.90
Benchmark 3 Month USD LIBOR Index
Fund Inception Date 10/14/2011
Class Inception Date 10/14/2011
Base Currency Code USD
Effective Duration (Years) 1.21
Current Yield (%) 3.80
% YTD Performance 4.06
Effective Maturity 1.73
Average Coupon 3.68
Bull Duration Delta -0.14
Bear Duration Delta 0.10
Curve Duration -0.02
Mortgage Spread Duration 0.79

Data as of 05/31/2017

Daily Prices (USD)

NAV Day Change
12.35 0.00
0.00%
YTD Return (Net of Fees)
4.40%
as of 06/20/2017

Historical Prices (USD)

06/16/2017 06/19/2017 06/20/2017
12.34 12.35 12.35
All Historical Data
Credit Absolute Return Fund Filter Results
Pricing Distributions
The Inception Date (earliest data available) for this fund is 10/14/2011
Start Date:
End Date:
The Credit Absolute Return Fund is a diversified absolute return-oriented global credit strategy that is not tethered to benchmark-specific guidelines. The fund has significant discretion to allocate across a broad range of global credit sectors, and it is designed to offer the flexibility to actively adjust long and short credit exposures to target opportunities in any market environment while providing proactive downside risk mitigation.
Fund Specific Documents
Fact Sheets
Holdings
Fund Net Cash Flow
Click here to view "KIIDs"
Managers
Mark R. Kiesel

Mr. Kiesel is CIO Global Credit and a managing director in the Newport Beach office. He is a member of the Investment Committee, a generalist portfolio manager and the global head of corporate bond portfolio management, with oversight for the firm’s investment grade, high yield, bank loan, municipal and insurance business as well as credit research. Morningstar named him Fixed-Income Fund Manager of the Year in 2012 and a finalist in 2010. He has written extensively on the topic of global credit markets, founded the firm’s Global Credit Perspectives publication and regularly appears in the financial media. He joined PIMCO in 1996 and previously served as PIMCO's global head of investment grade corporate bonds and as a senior credit analyst. He has 24 years of investment experience and holds an MBA from the University of Chicago's Graduate School of Business. He received his undergraduate degree from the University of Michigan.

Benchmark:
All Data as of
Time Period 1 mth 3 mth 6 mth 1 year 3 years 5 years 10 years Since Inception
Fund %
Benchmark %
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All Data as of
Fund Performance
Chart shows performance from first month-end for the oldest share class.

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Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results. Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Performance data current to the most recent month-end is available by calling +44 207 872 1369.

Effective Duration: Measure of a bond portfolio's (or a bond's) price sensitivity to changes in interest rates. It is a weighted maturity at present value of all principal and interest payments.

Average Credit Quality: The credit quality of the holdings in a portfolio does not apply to the safety or stability of the fund.

Benchmark: 3 Month USD LIBOR Index. LIBOR (London Interbank Offered Rate) is an average interest rate, determined by the British Bankers Association, that banks charge one another for the use of short-term money (3 months) in England s Eurodollar market. It is not possible to invest directly in an unmanaged index.

Investors should consider the investment objectives, risks, charges and expenses of these Funds carefully before investing. This and other information is contained in the Fund's prospectus. Please read the prospectus carefully before you invest or send money. For a copy of the Fund’s Prospectus, contact: Brown Brothers Harriman Fund Administration Services (Ireland) Limited, Telephone +353 1 241 7100, Fax +353 1 241 7101. email: PIMCOTeam@bbh.com

In an environment where interest rates may trend upward, rising rates will negatively impact most bond funds, and fixed income securities held by a fund are likely to decrease in value. Bond funds and individual bonds with a longer duration (a measure of the expected life of a security) tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations.

An investment in high-yield securities generally involves greater risk to principal than an investment in higher-rated bonds. Investing in non-Euro securities may entail risk as a result of non-Euro economic and political developments, which may be enhanced when investing in emerging markets.

When a fund invests in Europe, it may be affected significantly by economic, regulatory or political developments affecting European issuers. All countries in Europe may be significantly affected by fiscal and monetary controls implemented by the European Economic and Monetary Union. Eastern European markets are relatively undeveloped and may be particularly sensitive to economic and political events affecting those countries. The Fund may also invest in non-euro denominated fixed income securities and currency positions. The Fund may invest in high-yield, lower-rated securities, which generally involves greater risk to principal than investment in higher-rated securities. This Fund may use derivative instruments for efficient portfolio management purposes. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested. The credit quality of the investment in the portfolio does not apply to the stability or safety of the Fund. The Fund offers different share classes, which are subject to different fees and expenses (which may affect performance), have different minimum investment requirements and are entitled to different services. Distributed by PIMCO Europe Ltd, 11 Baker Street, London W1U 3AH, England.
 
No part of this publication may be reproduced in any form, or referred to in any other publication, without express written permission.
Copyright 2012, PIMCO​
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