The Pimco GIS Credit Absolute Return Fund offers long and short exposure, with a global credit mandate, aiming to produce absolute returns across all market conditions. Its manager, Mark Kiesel, managing director and global head of corporate bond portfolio management, describes the style as “a highly focused, ‘top-picks’ global strategy, with strong conviction backing each and every position”.
He will run the fund investing in between 50 and 75 of his best credit ideas although he says there is still the flexibility he feels investors need given the current macro trends.
The fund is Dublin-registered and is part of the firm’s Ucits-compliant Global Investor Series that has £53bn under management.
It has daily liquidity and will invest across a broad range of asset classes, from traditional global and regional core fixed income funds, through credit portfolios, to asset allocation and alternative solutions.
“Pimco’s investment process guides our macroeconomic view and helps enable us to identify risk factors across all fixed income markets,” Kiesel says. “We couple this top-down view with a vigorous bottom-up analysis to seek the best long and short credit positions in every part of the fixed income market, from investment grade credit, high yield, emerging market credit and bank loans to convertible and municipal securities.”
