PIMCO Income Fund gets upgrade
Ratings house, Zenith Investment Partners has delivered an upgraded rating to the PIMCO Income Fund.
The fund manager announced this week that Zenith had upgraded the fund from "Recommended" to "Highly Recommended," the highest possible rating.
Zenith’s product assessment described the fund as “being an attractive option in the 'high income' sector” noting the fund “effectively combines the strength of the PIMCO research platform and the security selection skills of co-portfolio managers, Dan Ivascyn (group chief investment officer (CIO)) and Alfred Murata (managing director).”
PIMCO said the actively-managed fixed interest fund aimed to deliver a competitive and consistent level of monthly income distributions without compromising total return with modest long-term capital appreciation, a critical secondary objective.
Commenting on the upgraded rating, PIMCO Australia and New Zealand head, Adrian Stewart said that with volatility likely to remain high, an allocation to fixed income strategies that take a prudent approach to pursuing a relatively high and sustainable monthly income stream with limited volatility, could be helpful for investors in constructing a diversified investment portfolio, particularly in a world where yield was hard to come by.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
