PIMCO US High Yield Bond I Cap $

Objectives The fund aims to maximise the total return on your investment through primarily investing in a range of "high yield" fixed income securities and instruments, using prudent investment management principles. Investment Policy The fund aims to achieve this objective by investing primarily in a range of "high yield" fixed income securities and instruments (which are similar to loans that pay a fixed or variable rate of interest) issued by companies from around the world. These "high yield" investments will be "non-investment grade". Non-investment grade securities are considered to be more risky, but typically produce a higher level of income. The average portfolio duration of this fund will normally vary within two years (plus or minus) of the ICE BofAML US High Yield Constrained Index (the ""Index""). Duration measures the sensitivity of the assets to interest rate risk. The longer the duration the higher the sensitivity to changes in interest rates. The fund is considered to be actively managed in reference to the Index by virtue of the fact that the Index is used for duration measurement, calculating the global exposure of the fund using the relative VaR methodology and for performance comparison purposes. Certain of the fund's securities may be components of and may have similar weightings to the Index. However, the Index is not used to define the portfolio composition of the fund or as a performance target and the fund may be wholly invested in securities which are not constituents of the Index. The fund may invest in emerging markets, which in investment terms are those economies that are not as developed. The fund may invest in derivative instruments (such as futures, options and swaps) rather than directly in the underlying securities themselves. The derivatives return is linked to movements in the underlying assets. The assets held by the fund may be denominated in a wide variety of currencies with non-USD currency exposure limited to 20% of total a

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No