Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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IE00B84FQ080

PIMCO GIS Total Return Bond Fund (Dist.)(IE00B84FQ080)

Fixed income
Investment grade
Global
HKD Cash
Distributing
Complex

Invest with

HKD Cash

Payout type

Distributing

Risk rating

About this fund

Description

The Fund seeks to maximise total return by investing primarily in US government, mortgage and corporate bonds, and may also have tactical allocations to municipal, high yield and non-US markets.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Actively managed core plus bond portfolio which invests primarily in US government, mortgage and corporate bonds, and may also have tactical allocations to municipal, high yield and non-US markets. Offers a time-tested strategy of investing in a portfolio of higher-quality, intermediate-term bonds backed by a disciplined investment approach and strong management team. The concept of total return investing, conceived in 1987, was pioneered by PIMCO.

People

Experienced and high calibre portfolio management (PM) team: Scott Mather, Mark Kiesel and Mohit Mittal. They are supported by PIMCO's global team of over 75 seasoned corporate credit analysts. The team employs a team-based approach whereby the decisions are consensus driven and not made by a single person.

Performance

The fund has displayed strong performance and capital preservation across nearly all market environments for more than 30 years, weathering through several times of market downturns and demonstrating resiliency

Process

The investment team seeks to add value through the use of top-down strategies such as its exposure to interest rates, or duration, changing volatility, yield curve positioning and sector rotation. They also employ bottom-up strategies involving analysis and selection of specific securities. The fund also typically employs leverage through the use of derivatives. The fund also tends to have off-benchmark exposure to developed non-US and emerging market debt as well as non-agency mortgage debt.

Cost

Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

This fund may be appropriate for investors looking for actively managed fixed income exposure coupled with capital appreciation. This fund could act as an anchor in a core bond sleeve, with its flexible approach and focus on total return. Investors should be aware that the fund employs leverage and utilises derivatives as part of its investment strategy. There also tends to be significant exposure to off-benchmark holdings.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this distributing fund, which includes dividends paid out.

Total returns

Cumulative

Annualised

All Time

16.88%

YTD

0.00%

1 month

-2.33%

6 month

1.42%

1 year

5.00%

3 year

12.54%

5 year

-0.69%

10 year

14.80%

As of Mar 2026

Distributions

3.04%

Frequency

Monthly

30 Mar 2026

Yield

5.82%As of Dec 2025

Risk metrics

Max drawdown

-19.87%As of Mar 2026

Volatility

4.90%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.6%	1.7%	-2.3%	-	-	-	-	-	-	-	-	-
2025	8.6%	1.0%	2.3%	0.0%	-0.2%	0.3%	2.0%	-0.3%	0.7%	1.0%	0.9%	0.7%	-0.1%
2024	1.4%	0.1%	-1.1%	1.0%	-2.5%	2.0%	0.6%	2.5%	1.0%	1.0%	-2.5%	1.4%	-1.7%
2023	5.4%	3.7%	-2.4%	1.9%	0.6%	-1.2%	-0.4%	-0.2%	-0.1%	-2.6%	-2.0%	4.4%	4.0%
2022	-16.0%	-2.0%	-1.4%	-3.3%	-4.0%	0.2%	-2.6%	2.4%	-2.9%	-4.5%	-2.1%	3.3%	-0.1%
Load more		5 of 14

Top Exposures

Holdings

Regions

Sectors

5 Year Treasury Note Future Mar 26 (2026-04-01 Maturity)	8.66%
10 Year Treasury Note Future Mar 26 (2026-03-21 Maturity)	7.98%
CDX IG45 5Y ICE (2030-12-20 Maturity)	7.86%
Federal National Mortgage Association 5% (2056-02-12 Maturity)	6.71%
Federal National Mortgage Association 3% (2056-02-12 Maturity)	3.32%
PIMCO US Dollar S/T Fl NAV Z USD Inc (2026-01-31 Maturity)	2.62%
Federal National Mortgage Association 5.5% (2056-02-12 Maturity)	2.19%
Ultra 10 Year US Treasury Note Future Mar 26 (2026-03-21 Maturity)	2.13%
Federal National Mortgage Association 6% (2056-03-12 Maturity)	1.89%
Federal National Mortgage Association 4% (2056-02-12 Maturity)	1.89%
United States Treasury Bonds 1.375% (2040-11-15 Maturity)	1.82%
PIMCO GIS US S/T Z USD Inc (2026-07-03 Maturity)	1.58%
United States Treasury Bonds 3% (2044-11-15 Maturity)	1.53%
Government National Mortgage Association 6% (2056-02-19 Maturity)	1.45%
IRS EUR 2.75000 03/18/26-10Y LCH Receive (2036-03-18 Maturity)	1.36%

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

1.40%0.80% p.a.

Save 42%

Fund facts

ISIN

IE00B84FQ080

Fund house

PIMCO

Fund size

HK$34.2B

As of 31 Mar 2026

Fund inception date

20 Feb 2013

Fund class currency

HKD

Fund share class

M Retail HKD Unhedged Inc

Oldest share inception date

31 Jan 1998

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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