Important risk disclosure

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IE00B0C18065
PIMCO GIS Diversified Income Fund

Fixed income
Investment grade
Global
USD Cash
Accumulating

Invest with

USD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks to maximise total return by investing in the broad global credit market, primarily in a diversified pool of corporate and emerging market fixed income securities of varying maturities in both US Dollar and non-USD Dollar denominated se...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Provides efficient access to broad global credit market exposure by investing primarily in a diversified pool of corporate and emerging market fixed income securities of varying maturities. Attempts to maximise total return, or the combination of current yield and price change, by focusing on undervalued segments of the global credit opportunity set.

People

Benefits from the scale and expertise of PIMCO, who is one of the largest fixed income managers in the world, managing more than US 1 trillion of assets. Managed by a team of 4 experienced portfolio managers with over 20 years of average investment experience, spanning across multiple fixed income sectors such as Euro credit, high yield and securitised assets. Collaborates closely with other single-sector portfolio management teams to construct multi-sector portfolios and leverages over 80 global credit research analysts and 75 quantitative analysts for bottom up security selection and risk management respectively.

Performance

Seeks to provide investors with an allocation across global credit sectors that is optimised from the standpoint of risk-adjusted return potential. Has demonstrated consistent outperformance relative to benchmark since its inception in 2005. From an absolute return perspective, stable to declining yields would be a favourable market environment for the fund's performance, in particular when combined with strength with other risk asset markets. On the contrary, periods of rapidly rising yields, wider or higher credit spreads, as well as broader risk asset underperformance typically characterise unfavourable market conditions for the Fund.

Process

Employs a repeatable and disciplined investment approach combining bottom-up fundamental credit research with top-down macroeconomic analysis, constantly looking out for both weakening credit fundamentals, to avoid potential downside, and improving credit fundamentals, to capture the upside. Strives to capture value from all techniques and sectors available, but take moderate risk in each, such that no one decision alone should overwhelm a portfolio and cause significant underperformance. Emphasises asset allocation, sector rotation and bottom-up security selection as the primary drivers of return. Yield curve and duration positioning, as well as currency views, are intended to have a smaller impact on overall performance over time.

Cost

Access to the Institutional share class to achieve the lowest possible fees.

How it fits in a portfolio

Investors looking for a global, multi-sector, credit-focused, total return fixed income fund would find the Fund attractive. However, investors should be aware of the credit risk taken by investing in this Fund, due to the Fund's exposure to high yield credit and emerging markets debt. It is advisable to diversify allocation to this Fund with other asset classes after understanding one's risk tolerance and investment objective.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

174.46%

YTD

0.69%

1 month

0.69%

6 month

5.42%

1 year

9.82%

3 year

24.83%

5 year

9.20%

10 year

61.06%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Yield

6.51%As of Sep 2025

Risk metrics

Max drawdown

-21.79%As of Jan 2026

Volatility

6.90%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.7%	-	-	-	-	-	-	-	-	-	-	-
2025	10.2%	1.1%	1.5%	-0.5%	0.0%	0.7%	1.8%	0.5%	1.2%	1.2%	1.2%	0.6%	0.4%
2024	6.8%	0.1%	-0.0%	1.4%	-1.5%	1.6%	0.7%	2.1%	1.5%	1.5%	-1.4%	1.6%	-0.8%
2023	9.5%	4.0%	-2.3%	1.1%	0.3%	-0.8%	0.9%	0.9%	-0.6%	-1.4%	-1.2%	4.4%	4.0%
2022	-16.3%	-2.5%	-3.7%	-2.0%	-4.8%	-0.7%	-5.4%	3.6%	-1.9%	-4.9%	0.3%	5.1%	-0.2%
Load more		5 of 21

Top Exposures

Holdings

Regions

Sectors

5 Year Treasury Note Future Dec 25 (2026-01-01 Maturity)	7.10%
CDX IG44 5Y ICE (2030-06-20 Maturity)	4.20%
2 Year Treasury Note Future Dec 25 (2026-01-01 Maturity)	3.93%
10 Year Treasury Note Future Dec 25 (2025-12-20 Maturity)	3.05%
Federal National Mortgage Association 6.5% (2055-11-13 Maturity)	2.71%
PIMCO GIS US S/T Z USD Inc (2027-04-01 Maturity)	2.34%
Ultra 10 Year US Treasury Note Future Dec 25 (2025-12-20 Maturity)	2.29%
Federal National Mortgage Association 6% (2055-11-13 Maturity)	2.28%
CDX IG45 5Y ICE (2030-12-20 Maturity)	2.12%
PIMCO US Dollar S/T Fl NAV Z USD Inc (2025-10-25 Maturity)	2.01%
CDX HY44 5Y ICE (2030-06-20 Maturity)	1.87%
PIMCO USD Short Mat ETF (2025-12-01 Maturity)	1.65%
RFR GBP SONIO/3.75000 09/17/25-5Y LCH Receive (2030-09-17 Maturity)	1.65%
CDX HY43 5Y ICE (2029-12-20 Maturity)	1.64%
Euro Bobl Future Dec 25 (2025-12-09 Maturity)	1.48%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

0.69% p.a.

Fund facts

ISIN

IE00B0C18065

Fund house

PIMCO

Fund size

US$10.4B

As of 31 Jan 2026

Fund inception date

30 Jun 2005

Fund class currency

USD

Oldest share inception date

30 Jun 2005

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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Disclaimer:

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IE00B0C18065PIMCO GIS Diversified Income Fund

IE00B0C18065
PIMCO GIS Diversified Income Fund