Pimco launches Asia Local Bond fund


Pimco has launched a Ucits fund investing in Asian local currency-denominated bonds through its Dublin-domiciled Sicav.

The Pimco Asia Local Bond fund, which is registered under the firm’s Global Investors Series umbrella, launched on 18 June and is managed by Ramin Toloui and Roland Mieth.

The fund will hold at least 80 per cent of its net assets in Asian local currency-denominated bonds, although it can own securities from issuers outside of the region.

According to the fund’s factsheet to the end of June, the portfolio has duration weighted exposure of 16.2 per cent to South Korea, which is largest country position. Some 15.6 per cent was in Singapore, 13.4 per cent in Indonesia and 11.7 per cent in Hong Kong.

Benchmarked against the HSBC Asian Local Bond Index, the fund has an E retail share class that carries a unified management fee of 1.55 per cent.