Pimco has made its income fund available to Australian investors after receiving 'Recommended' ratings from research houses Lonsec and Zenith.
The US fixed-income manager said the Pimco Income Fund pursues investment opportunities across sectors globally and has the flexibility to manage duration and invest in areas that help manage interest rate risk.
The fund sets specific limits on below investment-grade corporate securities and securities economically linked to emerging markets, Pimco said in a statement.
Pimco's group chief investment officer, Dan Ivascyn, and managing director Alfred Murata have been appointed managers of the fund.
“Investors increasingly want income while preserving capital and this strategy combines diversified sources of income with rigorous risk management backed by Pimco's research and analytical expertise across sectors globally,” Mr Ivascyn said.
Head of Pimco Australia and New Zealand Adrian Stewart said clients are seeking attractive income and capital appreciation in a world where yield is hard to come by.
“This fund takes a prudent approach to pursuing a relatively high and sustainable monthly income stream with limited volatility, and is an attractive addition to our existing range of solutions, particularly those planning for retirement,” he said.
The fund has received an introductory ‘Recommended’ rating from both Lonsec and Zenith, and is available through the ASX mFund service, the statement said.
Read more:
Global wealth firm expands to Australia
Praemium partners with Futuro on SMAs
ASX short selling at 'historic highs': SSGA
US economic growth likely to accelerate: AB
The financial technology provider has reported a net profit after tax of $64.1 million for 2018, an increase of 7 per cent on the previous y...
Moelis Australia has posted record earnings for FY18, more than doubling its asset management EBITDA to $52.5 million from $23.4 million in ...
A class action suit has been filed against the major bank over its mortgage business. ...
