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- A portfolio that invests in a focused group of PIMCO mutual funds, rather than in individual securities, providing access to a variety of investments across both traditional and alternative asset classes.
- Conservative approach that may appeal to investors concerned about the relative volatility of future equity returns.
- Offers access to the investment expertise of PIMCO and Robert D. Arnott, Chairman of Research Affiliates L.L.C. and an expert on tactical asset allocation.
- In the attempt to add alpha (outperformance), the manager considers non-traditional asset classes, emphasizes managers with a proven track record and actively manages the asset mix in the Fund.
- The Fund's secondary benchmark is CPI plus 5% over a strategic timeframe.
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PIMCO All Asset Fund's portfolio invests in an expanded group of PIMCO mutual funds, rather than in individual securities, providing access to a variety of investments across both traditional and alternative asset classes. These underlying funds cover the full spectrum of traditional sectors of the stock and bond markets, as well as other asset classes, such as Treasury Inflation Protected Securities (TIPS), commodities, and real estate. Using a dynamic asset allocation strategy, the Fund’s manager seeks to identify those asset classes and sectors that offer the most value at a particular point in the economic/market cycle. In keeping with PIMCO’s dedication to risk management, the Fund contains internal guidelines to optimize risk controls, including:
- No more than 50% invested in any single underlying PIMCO Fund.
- No more than 50% invested in PIMCO Funds that track equity indices.
- No more than 75% invested in PIMCO Real Return Strategy Funds.
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The Fund’s Role in an Investor’s Portfolio
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Complement to core stock and bond holdings.
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Employing tactical asset allocation strategy.
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Can offer some protection against inflation given its secondary benchmark of CPI plus 5%, over a strategic time frame.
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Exposure to non-traditional asset classes such as TIPS, commodities, and emerging market debt.
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Cost-effective, liquid "alternative" investment.
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In determining the Fund's allocations to the underlying PIMCO Funds, the sub-advisor relies on a number of essential building blocks, including: the long-term return potential of each asset class/sector, equity and bond risk premiums, potential value-added of the underlying PIMCO Funds, and proprietary active asset allocation models. In addition, key personnel from PIMCO and Research Affiliates regularly engage in substantive dialogue, formulating strategy that is then incorporated into the final allocation decisions. The above asset allocation criteria are monitored on an ongoing basis and, when strategically appropriate, the allocations are readjusted accordingly.
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Objective
Seeks maximum real return, consistent with preservation of real capital and prudent investment management
Primary Portfolio
Underlying PIMCO Funds
Total Fund Assets (in millions)
$16,010.1
Inception Date
Jul 31, 2002
Dividend Frequency
Quarterly
Maximum Sales Charge
3.75%
Expense Ratio *
1.560%
> Share Class Pricing
Manager
Robert D. Arnott
Management Firm
Pacific Investment Management Company LLC (PIMCO)
Newport Beach, California
Led by Founder and Chief Investment Officer Bill Gross, PIMCO is widely recognized as one of the premier bond managers in the world. PIMCO applies this expertise to a range of core and specialized investment portfolios.
> Management Commentary
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