Pimco, famous for its fixed income business, has launched the Pimco GIS Credit Absolute Return Fund targeted at “investors seeking a global, diversified strategy that is focused on absolute return and not constrained by a benchmark”.
The fund seeks out long-term, strategic investments as well as shorter-term tactical opportunities in an effort to provide positive returns in any market environment.
Managed by Mark Kiesel, a managing director and global head of corporate bond portfolio management, it is designed to enable investors to diversify their fixed income allocation without being tied to risks Pimco believes can be embedded in a benchmark.
The fund has been added to Pimco’s Ucits-compliant Global Investor Series (GIS) fund range. This Dublin-registered range comprises 44 sub-funds with £53 billion (€61 billion) under management as of 30 September 2011.
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