SF UK Income Bond Fund

ISIN: IE00B3RPBL66

Updated 21 October 2021

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  • DAILY NAV (GBP)
    15.50
  • DAILY YTD RETURN
    -0.45%
  • TOTAL NET ASSETS (GBP)
    204 MM
    (as of 30/09/2021)
  • TOTAL NET ASSETS (GBP)
    204 MM
    (as of 30/09/2021)
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    23/02/2011
  • CLASS
    Fixed Income
  • CLASS INCEPTION DATE
    23/02/2011

Objective

The primary investment objective of the UK Income Bond Fund is to seek to maximise current income, consistent with prudent investment management. Long-term capital appreciation is a secondary objective.

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Overview

Fund Description

The UK Income Bond Fund targets a consistent annual distribution yield achieved via an actively managed portfolio of predominantly sterling-denominated, investment grade bonds with an average duration of one to eight years. The fund targets higher coupon securities that generate income for the portfolio. The fund will allocate a minimum of 50% to Investment Grade securities, and a maximum of 25% to Emerging Market securities and a maximum of 30% nonsterling currency exposure.

Investor Benefits

The fund offers an actively managed and diversified strategy with a primary goal of income generation, and a secondary goal of capital appreciation over a full market cycle.

The Fund Advantage

The fund’s diversified strategy and extensive fixed income opportunity set can offer significant potential for investors seeking consistent income and outperformance.

BENCHMARK

Bloomberg Barclays Sterling Aggregate 1‑10yr bond index

BENCHMARK DESCRIPTION

The Bloomberg Barclays Sterling Aggregate 1-10yr bond index represents the Sterling Aggregate 1-10yr component of the Bloomberg Barclays Pan-European Aggregate index. The Pan-European Aggregate Index covers eligible investment grade securities from the entire European continent. The primary component is the Euro-Aggregate Index. In addition, the Pan-European Aggregate Index includes eligible securities denominated in British pounds (GBP), Swedish krona (SEK), Danish krone (DKK), Norwegian krone (NOK), Czech koruna (CZK), Hungarian forint (HUF), Polish zloty (PLN), Slovenian tolar (SIT), and Slovakian koruna (SKK). Apart from the currency constraint, the inclusion rules for the Pan-European Index are identical to those of the Euro-Aggregate Index. A local currency Swiss franc index is also available but does not contribute to the overall Pan European Index. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

SHARE CLASS INCEPTION

23/02/2011

OLDEST SHARE CLASS

OLDEST SHARE CLASS INCEPTION

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BASE CURRENCY

ISIN

IE00B3RPBL66

TICKER

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SEDOL

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SHARE CLASS CURRENCY

CUSIP

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VALOR

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WKN

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VAG Compliance

Traspasable

No

RELATED

Managers

Eve Tournier

Head of European Credit Portfolio Management

View Profile for Eve Tournier

Ketish Pothalingam

Portfolio Manager, U.K. Credit

View Profile for Ketish Pothalingam

Andrew Balls

CIO Global Fixed Income

View Profile for Andrew Balls

Yields & Distributions

Historical Prices & Distributions

Estimated Gross Yield to Maturity1 as of 30/09/2021 2.85%
Current Yield2 as of 30/09/2021 2.60%

disclosures

1PIMCO calculates a Fund's Estimated Yield to Maturity by averaging the yield to maturity of each security held in the Fund on a market weighted basis. PIMCO pulls each security's yield to maturity from PIMCO's Portfolio Analytics database. When not available in the PIMCO's Portfolio Analytics database, PIMCO pulls the security's yield to maturity from Bloomberg. When not available in either database, PIMCO will assign a yield to maturity for that security from a PIMCO matrix based on prior data.
2The estimate of current yield is based on PIMCO's best judgment for the securities in the portfolio on the date shown. PIMCO makes no representation on the accuracy or the methodology used.

Fees & Expenses

Unified Fee 0.49%

Prices & Performance

Daily Statistics

All data as of 21/10/2021

NAV (GBP) 15.50 One Day Return -0.13%
Daily Change (GBP) -0.02 Daily YTD Return -0.45%

Discrete Performance

All data as of 30/09/2021
  Sep `16 - Sep `17 Sep `17 - Sep `18 Sep `18 - Sep `19 Sep `19 - Sep `20 Sep `20 - Sep `21
UK Income Bond Fund
  1.42 -0.21 4.77 0.54 4.06
Bloomberg Sterling Aggregate 1-10yr bond index
  -0.39 0.11 5.36 2.06 -1.54
Performance quoted represents past performance and is not a guarantee or a reliable indicator of future results

All data as of

All data as of

Performance quoted represents past performance and is not a guarantee or a reliable indicator of future results. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Current performance may be lower or higher than average annual returns shown.

Calendar Year Returns %

All data as of

Morningstar Ratings

disclosures

Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results. Current performance may be lower or higher than performance shown. Investment return and the principal value of an investment will fluctuate. Shares may be worth more or less than original cost when redeemed. Performance data current to the most recent month-end is available by calling +44 203 3640 1552.
Differences in the Fund’s performance versus the index and related attribution information with respect to particular categories of securities or individual positions may be attributable, in part, to differences in the pricing methodologies used by the Fund and the index.
A rating is not a recommendation to buy, sell or hold a fund. © 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. For more detailed information about Morningstar Rating, including its methodology, please go to: The Morningstar Rating Methodology.

Portfolio Composition

All data as of unless otherwise stated

Maturity %

0-1 yrs 9.11
1-3 yrs 21.46
3-5 yrs 30.89
5-10 yrs 38.87
10-20 yrs -6.13
20+ yrs 5.79
Effective Maturity (yrs) 5.94

Top Industry Sectors
Market Value %

Banks 15.04
Financial Other 5.85
Real Estate 5.32
Chemicals 3.13
Wirelines 2.87
REITS: Office 2.86
Restaurants 2.63
Automotive 2.48
Transportation Services 2.40
REITS: OTHER 2.30

Duration %

0-1 yrs 4.19
1-3 yrs 16.20
3-5 yrs 26.98
5-7 yrs 21.51
7-8 yrs 18.62
8-10 yrs 4.73
10+ yrs 7.77
Effective Duration (yrs) 3.01

Top 10 Country by Currency of Settlement (FX%)

Singapore 0.01
Brazil 0.01
China 0.01
Poland 0.01
South Africa 0.00
United States 0.00
Switzerland -0.05
Canada -0.05
Denmark -0.06
Euro Currency -0.06

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RELATED

Disclosures

A Prospectus is available for PIMCO Select Funds plc (the Company) and Key Investor Information Documents (KIIDs) are available for each share class of each the sub-funds of the Company.

 

The Company’s Prospectus can be obtained from www.fundinfo.com and is available in English and German.

 

The KIIDs can be obtained from www.fundinfo.com and are available in one of the official languages of each of the EU Member States into which each sub-fund has been notified for marketing under the Directive 2009/65/EC (the UCITS Directive).

 

In addition, a summary of investor rights is available from www.pimco.com .The summary is available in English.

 

The sub-funds of the Company are currently notified for marketing into a number of EU Member States under the UCITS Directive. [PIMCO Global Advisors (Ireland) Limited] can terminate such notifications for any share class and/or sub-fund of the Company at any time using the process contained in Article 93a of the UCITS Directive.

Square Mile - A rating is not a recommendation to buy, sell or hold a fund. Square Mile is an independent investment research business that works in partnership with regulated professional financial services firms. Their ratings process is fueled by a qualitative research process that focuses on the fundamentals: manager and environment; investment philosophy and objectives; investment process; portfolio construction; management of risk; and value for money. An ‘A’ rating is assigned to funds which we have confidence that the fund over an investment cycle will meet its stated objectives. Past performance is not an indicator of future results.

A rating is not a recommendation to buy, sell or hold a fund. Past performance is not an indicator of future results.

The Fund can invest a portion of its assets in non-U.K. securities, which can entail greater risks due to non-U.S. economic and political developments. This risk may be enhanced when investing in Emerging Markets. Investment in a Fund that invests in high-yield, lower-rated securities, will generally involve greater volatility and risk to principal than investments in higher-rated securities. This Fund may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested.
Distributed by PIMCO Europe Ltd, 11 Baker Street, London, W1U 3AH, England.
PIMCO SELECT FUNDS: PIMCO Select Funds plc is an umbrella type open-ended investment company with variable capital and with segregated liability between Funds incorporated with limited liability under the laws of Ireland with registered number 480045. The information is not for use within any country or with respect to any person(s) where such use could constitute a violation of the applicable law. The information contained in this communication is intended to supplement information contained in the prospectus for this Fund and must be read in conjunction therewith. Investors should consider the investment objectives, risks, charges and expenses of these Funds carefully before investing. This and other information is contained in the Fund’s prospectus. Please read the prospectus carefully before you invest or send money. For additional information and/or a copy of the Fund’s prospectus, please contact the Administrator: State Street Fund Services (Ireland) Limited and State Street Custodial Services (Ireland) Limited (collectively “State Street”), Telephone +353 1 7768000, Fax +353 1 7768491. © 2021.
Unless otherwise stated in the prospectus or in the relevant key investor information document, the Fund referenced in this material is not managed against a particular benchmark or index, and any reference to a particular benchmark or index in this material is made solely for risk or performance comparison purposes. This material may contain additional information, not explicit in the prospectus, on how the Fund or strategy is currently managed. Such information is current as at the date of the presentation and may be subject to change without notice.

RISK Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and the current low interest rate environment increases this risk. Current reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Commodities contain heightened risk, including market, political, regulatory and natural conditions, and may not be suitable for all investors. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio. Derivatives may involve certain costs and risks, such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Equities may decline in value due to both real and perceived general market, economic and industry conditions. Investing in foreign-denominated and/or -domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Sovereign securities are generally backed by the issuing government. Obligations of U.S. government agencies and authorities are supported by varying degrees, but are generally not backed by the full faith of the U.S. government. Portfolios that invest in such securities are not guaranteed and will fluctuate in value. High yield, lower-rated securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Mortgage- and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and while generally supported by a government, government-agency or private guarantor, there is no assurance that the guarantor will meet its obligations. Income from municipal bonds may be subject to state and local taxes and at times the alternative minimum tax. Swaps are a type of derivative; swaps are increasingly subject to central clearing and exchange-trading. Swaps that are not centrally cleared and exchange-traded may be less liquid than exchange-traded instruments. Inflation-linked bonds (ILBs) issued by a government are fixed income securities whose principal value is periodically adjusted according to the rate of inflation; ILBs decline in value when real interest rates rise. Treasury Inflation-Protected Securities (TIPS) are ILBs issued by the U.S. government. Certain U.S. government securities are backed by the full faith of the government. Obligations of U.S. government agencies and authorities are supported by varying degrees but are generally not backed by the full faith of the U.S. government. Portfolios that invest in such securities are not guaranteed and will fluctuate in value.

The above narration contains the current opinions of the manager and such opinions are subject to change without notice. The above narration has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this presentation may be reproduced in any form, or referred to in any other publication, without express written permission.

GIS FUNDS

PIMCO Funds: Global Investors Series plc is an umbrella type open-ended investment company with variable capital and is incorporated with limited liability under the laws of Ireland with registered number 276928. The information is not for use within any country or with respect to any person(s) where such use could constitute a violation of the applicable law. The information contained in this communication is intended to supplement information contained in the prospectus for this Fund and must be read in conjunction therewith. Investors should consider the investment objectives, risks, charges and expenses of these Funds carefully before investing. This and other information is contained in the Fund's prospectus. Please read the prospectus carefully before you invest or send money. Past performance is not a guarantee or a reliable indicator of future results and no guarantee is being made that similar returns will be achieved in the future. Returns are net of fees and other expenses and include reinvestment of dividends. The performance data represents past performance and investment return and principal value will fluctuate so that the PIMCO GIS Funds shares, when redeemed, may be worth more or less than the original cost. Potential differences in performance figures are due to rounding. The Fund may invest in non-U.S. or non-Eurozone securities which involves potentially higher risks including non-U.S. or non-Euro currency fluctuations and political or economic uncertainty. For informational purposes only. Please note that not all Funds are registered for sale in every jurisdiction. Please contact PIMCO for more information. For additional information and/or a copy of the Fund's prospectus, please contact the Administrator: State Street Fund Services (Ireland) Limited, Telephone +353-1-776-0142, Fax +353-1-562-5517. © 2021.

Benchmark

Unless referenced in the prospectus and relevant key investor information document, a benchmark or index in this material is not used in the active management of the Fund, in particular for performance comparison purposes.

Where referenced in the prospectus and relevant key investor information document a benchmark may be used as part of the active management of the Fund including, but not limited to, for duration measurement, as a benchmark which the Fund seeks to outperform, performance comparison purposes and/or relative VaR measurement. Any reference to an index or benchmark in this material, and which is not referenced in the prospectus and relevant key investor information document, is purely for illustrative or informational purposes (such as to provide general financial information or market context) and is not for performance comparison purposes. Please contact your PIMCO representative for further details.”

Correlation

As outlined under “Benchmark”, where referenced in the prospectus and relevant key investor information document, a benchmark may be used as part of the active management of the Fund. In such instances, certain of the Fund’s securities may be components of and may have similar weightings to the benchmark and the Fund may from time to time show a high degree of correlation with the performance of any such benchmark. However the benchmark is not used to define the portfolio composition of the Fund and the Fund may be wholly invested in securities which are not constituents of the benchmark.

Investors should note that a Fund may from time to time show a high degree of correlation with the performance of one or more financial indices not referenced in the prospectus and relevant key investor information document. Such correlation may be coincidental or may arise because any such financial index may be representative of the asset class, market sector or geographic location in which the Fund is invested or uses a similar investment methodology to that used in managing the Fund.

PIMCO Europe Ltd (Company No. 2604517) is authorised and regulated by the Financial Conduct Authority (12 Endeavour Square, London E20 1JN) in the UK. The services provided by PIMCO Europe Ltd are not available to individual investors, who should not rely on this communication but contact their financial adviser. PIMCO Europe GmbH (Company No. 192083, Seidlstr. 24-24a, 80335 Munich, Germany), PIMCO Europe GmbH Italian Branch (Company No. 10005170963),  PIMCO Europe GmbH Irish Branch (Company No. 909462), PIMCO Europe GmbH UK Branch (Company No. BR022803) and PIMCO Europe GmbH Spanish Branch (N.I.F. W2765338E) are authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) (Marie- Curie-Str. 24-28, 60439 Frankfurt am Main) in Germany in accordance with Section 15 of the German Banking Act (WplG). The Italian Branch, Irish Branch, UK Branch and Spanish Branch are additionally supervised by: (1) Italian Branch: the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act; (2) Irish Branch: the Central Bank of Ireland in accordance with Regulation 43 of the European Union (Markets in Financial Instruments) Regulations 2017, as amended; (3) UK Branch: the Financial Conduct Authority; and (4) Spanish Branch: the Comisión Nacional del Mercado de Valores (CNMV) in accordance with obligations stipulated in articles 168 and  203  to 224, as well as obligations contained in Tile V, Section I of the Law on the Securities Market (LSM) and in articles 111, 114 and 117 of Royal Decree 217/2008, respectively. The services provided by PIMCO Europe GmbH are available only to professional clients as defined in Section 67 para. 2 German Securities Trading Act (WpHG). They are not available to individual investors, who should not rely on this communication.PIMCO (Schweiz) GmbH (registered in Switzerland, Company No. CH-020.4.038.582-2). The services provided by PIMCO (Schweiz) GmbH are not available to individual investors, who should not rely on this communication but contact their financial adviser. © 2021, PIMCO.

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