FirstChoice WS Pens - PIMCO WS Global Bond

About this Fund

Fund Detail

PDS https://informedinvestor.com.au/view/pds/106342-2023-11-22-02:25.pdf
ASX Code
INVESTMENT STYLE Predominantly invests in government, corporate, mortgage and other global fixed interest securities. The fund invests in investment grade securities, but may also hold non-investment grade and emerging market securities.
INVESTMENT PROFILE To achieve maximum total return and to seek to preserve capital through prudent investment management.
BENCHMARK Bloomberg Barclays Global Aggregate Index hedged into AUD
FUND SIZE Bloomberg Barclays Global Aggregate Index hedged into AUD
FEES 0.87% p.a.



The option utilises PIMCO’s core fixed interest strategy of seeking strong, consistent investment returns while at the same time moderating the volatility of returns relative to the benchmark. The option aims to outperform the Bloomberg Global Aggregate Index hedged to Australian dollars over rolling three-year periods before fees and taxes.

Benefits of investing in the PIMCO Global Bond Fund - Wholesale Class

The Fund is an actively managed portfolio of government, corporate, mortgage and other global fixed interest securities.

Significant features and benefits of investing in the Fund are:

  • Investment Process - the Fund capitalises on PIMCO's thought leadership and time-tested investment process, which guide portfolio construction via top-down macroeconomic outlook and rigorous bottom-up credit analysis
  • Expertise - PIMCO is one of the largest fixed interest managers in the world with more than 650 investment professionals globally as at 30 September 2016
  • With dedicated sector and regional investment specialists in multiple offices around the world, PIMCO's depth and reach allows efficient and effective access to all major global fixed interest markets
  • Diversification And Active Management - Designed as a core allocation to Australian and New Zealand fixed interest, the fund may provide diversification benefits amongst an allocation to other asset classes, such as equities
  • The Fund aims to provide diversified exposure to multiple economies, yield curves and sectors, which can improve risk-adjusted returns
  • The Fund is actively managed, which allows PIMCO to focus on securities regarded by PIMCO to have the strongest risk versus return attributes and avoid securities that are regarded by PIMCO to have insufficient value or a likelihood of capital loss.
  • Potential Regular Distributions - the Fund seeks to provide a regular income stream by way of quarterly distributions (the RE may change the distribution frequency without notice).
  • Regular Reporting - monthly and quarterly reporting is provided to keep you up to date on your investments.



Please note that the RE does not guarantee the repayment of capital or any rate of return or the Fund's investment performance.

Risk Level - Low

There is a low level risk of loss of investment over one year. Investment in the Fund has the potential to produce medium level returns over the suggested time frame.

Investor Suitability

The Fund is designed for investors who wish to have a broadly diversified exposure to international fixed interest markets.




Key Features

Investment Strategy

In pursuing the option’s investment objective, PIMCO applies a wide range of diverse strategies including duration analysis, credit analysis, relative value analysis, sector allocation and rotation, and individual security selection. PIMCO’s investment strategy emphasises active decision making with a long-term focus and seeks to avoid extreme swings in duration or maturity with a view to creating a steady stream of returns. The option may invest in derivatives to gain or reduce exposure to  relevant markets and to manage investment risk. 

Investments Held

The Fund invests in government, corporate, mortgage and other fixed interest securities. While the Fund invests predominantly in Investment Grade securities, it may also invest in non-Investment Grade fixed interest securities and Emerging Market Debt.

The Fund may also hold cash and Derivatives.

Fund Overview

Access high-quality fixed income worldwide

By investing in high-quality, developed countries around the world, the fund provides diverse exposure to multiple economies, interest rates and yield curves, which may enhance return potential, reduce overall portfolio volatility and help mitigate the threat of rising interest rates.

Why Invest In This Fund?

A global opportunity set

Broadly diversified, the fund strives to capture attractive risk-adjusted returns across the global bond markets, which can help to both mitigate volatility and hedge against risks in other asset classes, such as equities. Diversification does not guarantee a profit or protect against loss.

High-quality emphasis

Guided by PIMCO's global perspective and on-the-ground insights into country fundamentals, the fund targets a portfolio of primarily investment grade bonds from around the developed world, making this an excellent building block for core bond investments.

Time-tested process

Supported by a deep international presence with over 50 global portfolio managers located around the world, the fund capitalises on PIMCO's thought leadership and time-tested investment process, which guide portfolio construction via our top-down macroeconomic outlook and rigorous bottom-up credit analysis.

Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates.

Our Expertise

A 24-hour team to cover the global investment universe

With dedicated sector and regional specialists in 12 offices around the world, PIMCO's depth and reach allow us to efficiently and effectively access all global fixed interest markets.


How We Invest Your Money

Investment Guidelines

PIMCO has adopted the following guidelines in managing the Fund:

  • Duration - The average portfolio Duration of the Fund will vary based on PIMCO's forecast of interest rates and under normal conditions it is expected to range plus/minus two years versus the Benchmark.
  • Credit quality - The Fund will invest predominantly in Investment grade securities but may in addition invest in below Investment Grade securities.
  • Currency hedging - PIMCO will normally seek to hedge the Fund's foreign currency exposure between 90% to 110% to Australian dollars.

Percentage limitations will apply at the time of investment. The Fund is not required to sell any securities in the event that such limitations are subsequently exceeded, whether as a result of market movements, applications or withdrawals from the Fund or otherwise. The Fund is not required to sell a security in the event such security is downgraded below the Fund's minimum investment quality, provided that such security met the Fund's minimum quality standard at the time of purchase.

Asset Classes and Allocation Ranges

Indicative asset allocation range (as a % of NAV)

  • Fixed Income and cash 100%

In order to meet the Fund's investment objectives, asset classes and investment ranges may be changed from time to time. PIMCO has full discretion in relation to asset allocation ranges. We will give unitholders written notice of any material variation which we believe they would not have reasonably expected.