Investment Policy changes of the underlying funds of PIMCO funds

27 February 2020

L22 PIMCO Global Real Return
L33 PIMCO Global High Yield Bond

We have been notified by PIMCO Funds: Global Investor Series plc (the “Company”) of the change to the investment policy of the underlying funds of the above named mirror funds. This change has taken effect from 26 February 2020 (the “Effective Date”). 

From the Effective Date, the investment policies of the underlying funds of the mirror funds have been amended to provide that the underlying funds may invest in Mainland China securities (including investment in urban investment bonds through offshore bond markets, the China Inter-Bank Bond Market and/or other permissible means) subject to the relevant exposure as disclosed below:

Affected Investment-linked Fund	Exposure (% of the underlying funds of the above named mirror fund’s Net Asset Value)
L22 PIMCO Global Real Return	Up to 15%
L33 PIMCO Global High Yield Bond	Up to 15%

Urban investment bonds are debt instruments issued by local government financing vehicles (“LGFVs”) in the Mainland listed bond and interbank bond market and by Mainland Chinese local LGFVs in offshore bond markets. These LGFVs are separate legal entities established by local governments and/or their affiliates to raise financing for public welfare investment or infrastructure projects.

 

Should you have any questions regarding these changes, please contact International Funds & Investments.