PIMCO GIS Income Fund

This was a new introduction for us. This is a flagship strategy from PIMCO who are specialists in the bond (debt) market. The returns shown are using USD rather than using a currency hedge version, where the returns are a lot lower.

This was a brief overview. We started by looking at the macro picture and they indicated that where they had confidence coming into the year, this has all but gone. Expectations for growth are around 1%, and they are expecting higher interest rates with the US around 3.5% to 4.0% and the UK 3% to 3.5%.

The bond market has sold off aggressively, down nearly -9%. To put this into perspective, in the taper tantrum in 2012 the decline was -3.8%. However, they feel that markets are close to the end of the sell-off and all past history shows strong returns from the point that yields peak…..read more

Fund Facts Morningstar

Notes

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