The Ucits compliant Dublin registered offering is managed by a team led by Mark Kiesel, managing director and chief investment officer global credit.
Pimco said the fund is designed for investors seeking ‘a high-quality fixed income alternative to government bonds or domestic corporate bonds, with the potential for higher yields and enhanced portfolio diversification.’
As of September 15, the Pimco GIS US Investment Grade Corporate Bond Fund is registered in the UK and Ireland. It will be registered in other European markets in the coming days.
This Dublin-registered range the new fund sits in now comprises 55 sub-funds with $98.5bn (£74.6bn, €87.6bn) under management as of 31 August 2016.
Kiesel said: “With yields on European government and corporate bonds at historic lows, and in some cases negative, the U.S. corporate bond market continues to be one of the main areas offering much needed yield.”