PIMCO Global High Yield Bond I Cap GBP Hdg

Objectives The fund aims to maximise the total return on your investment through primarily investing in a diversified portfolio of high yield fixed income instruments and securities that are denominated in major world currencies, using prudent investment management principles. Investment Policy The fund aims to achieve its objective by taking exposure to a diversified 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. The fund will mainly invest in "non-investment grade" securities. These are generally considered to be riskier investments than "investment grade" securities, but typically may produce a higher level of income. The fund is considered to be actively managed in reference to the ICE BofAML BB-B Rated Developed Markets High Yield Constrained Index (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 average portfolio duration of the fund will normally vary within two years (plus or minus) of 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. Investments may be linked to emerging market countries, 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 as

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No