17 Nov 2011
PIMCO, a leading global investment management firm, has launched the PIMCO GIS Credit Absolute Return Fund for investors seeking a global, diversified strategy that is focused on absolute return and not constrained by a benchmark.
PIMCO’s aim is for the fund to provide an absolute return strategy for investors looking for diversification from traditional long-only funds.
The fund is managed by Mark Kiesel, a managing director and global head of corporate bond portfolio management. It seeks out long-term, strategic investments as well as shorter-term tactical opportunities in an effort to provide positive returns in any market environment. It is designed to enable investors to diversify their fixed income allocation without being tied to the risks PIMCO believes can be embedded in a benchmark.
PIMCO’s aim is for the fund to provide an absolute return strategy for investors looking for diversification from traditional long-only funds.
The fund is managed by Mark Kiesel, a managing director and global head of corporate bond portfolio management. It seeks out long-term, strategic investments as well as shorter-term tactical opportunities in an effort to provide positive returns in any market environment. It is designed to enable investors to diversify their fixed income allocation without being tied to the risks PIMCO believes can be embedded in a benchmark.
Kiesel said “PIMCO’s investment process guides our macroeconomic view and helps enable us to identify risk factors across all fixed income markets. We couple this top-down view with a vigorous bottom-up analysis to seek the best long and short credit positions in every part of the fixed income market, from investment grade credit, high yield, emerging market credit and bank loans to convertible and municipal securities.”
“This strategy can pivot in order to help achieve the absolute return objective. For example, the strategy can take on greater exposure to credit when spreads are attractive and, conversely, reduce overall exposure when necessary and instead focus on relative value between credit sectors.”
