EUROPE - Bond specialist Pimco has added eight new funds to its global investors series after growing institutional appetite for specialist pooled funds.
The expanded offering doubles the range of Pimco’s investment strategies available to European institutional investors.
Joe McDevitt, head of Pimco Europe, said: “We have spent many months listening to what clients want from us and these new funds and classes have been introduced to respond directly to their demands.
“The Global Investor Series has seen tremendous success over the past five years, delivering the benefits of pooled funds combined with the quality and added value that investors have come to expect from Pimco.”
The new funds include a UK CorePLUS Fund benchmarked against the FTSE Actuaries Government Securities UK Gilts All Stocks Index; US Short-Term and Low Duration Funds; Euro Short-Term; Euro Bond II and Euro StocksPLUS Funds and Global Investment Grade Credit and Global Real Return Funds.
All funds are denominated in sterling, US$s and euro share classes. The Global Real Return Fund is for private or offshore clients.
In addition, the existing US$ hedged Global Bond Fund is now available in euro hedged, US$ unhedged and sterling share classes.
PIMCO, the bond arm of Allianz Dresdner Asset Management, said that its UK CorePLUS Fund, its first pooled fund denominated in Sterling, is aimed at the UK pensions industry, whereas the euro-based offerings primarily target demand across Europe. There are 13 share classes in total.
Portfolio managers based in London and Newport Beach, California, will oversee the funds which are registered in Dublin.
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