Pacific Investment Management Co. has launched a Canadian version of one of PIMCO’s key global fixed income funds, PIMCO Unconstrained Bond Fund.
The Newport Beach, Calif.-based investment management giant, which recently bid farewell to high-profile founder, Bill Gross, announced that it has launched the PIMCO Unconstrained Bond Fund (Canada).
PIMCO says that the fund is designed to capture a broad set of opportunities in global fixed income and currency markets in an absolute return framework.
The fund is co-managed by Saumil Parikh, managing director and member of PIMCO’s investment committee, Ed Devlin, managing director and head of Canadian portfolio management, and Mohit Mittal, managing director and portfolio manager.
“The fund embodies PIMCO’s best investment ideas across global fixed income markets,” says Parikh. “Its absolute return objective gives us the flexibility and agility to navigate a range of market conditions. We also have the ability to scale exposures in strong conviction areas and reduce allocations where we see less value or heightened risk.”
The base currency of the fund is Canadian dollars, but the managers will also actively pursue opportunities across geographical regions and asset classes, PIMCO says.