Select your geography
Americas
Back
PineBridge Global Bond Fund
- ISINIE0031295045
- BloombergPBIMULA
- Daily NAVNaNas of
- Class CurrencyUSD
- AUM (millions)38.0as of 31 Jul 2024
- Asset ClassFixed Income
- Class Inception Date31 Dec 01
All investments involve risk. The value of your investment and the income from it will fluctuate and a loss of capital may occur.
7 November 2023 – Investment in China; Notification of update
Overview
Investment Objective
To seek a high level of return from a combination of current income and capital appreciation by investing in a portfolio of debt securities denominated in US Dollars and a range of other currencies including Euro, Australian Dollar, New Zealand Dollar, Canadian Dollar, Swiss Franc, Danish Krone, Swedish Krona, Norwegian Krone, British Sterling, Japanese Yen, Polish Zloty, Hungarian Forint, South African Rand, Singapore Dollar, Slovak Koruna and Mexican Peso.
Reasons to Invest
Access to compelling investment opportunities in the expanding global sovereign and corporate universe
Consistent and disciplined investment process based on our fundamentals, valuations and technical framework
Interconnected investment insights, tied through global industry knowledge and on-the-ground presence
| Asset Class | Fixed Income |
| Benchmark | Bloomberg Global Aggregate Total Return Index (USD Hedged) |
| ISIN | IE0031295045 |
| Bloomberg | PBIMULA |
| Fund Umbrella | PineBridge Global Funds |
| Fund Structure | UCITS |
| Domicile | Ireland |
| Investment Manager | PineBridge Investments Ireland Limited
16 Sir John Rogerson’s Quay
Dublin 2 Ireland |
| SFDR Categorization* | Article 6 |
| Base Currency | USD |
| Fund Inception Date | 1 Jan 1993 |
| Unit Class Inception Date | 31 Dec 2001 |
| Min Investment | USD 1,000 |
| Income Treatment | No Distribution: Dividends Reinvested |
| Geographical Registrations |  |
*EU Sustainable Finance Disclosure Regulation. For more information, please visit https://www.pinebridge.com/esg.
Key Risks
Potential Investors should consider the following key risks before investing in the Sub-Fund:
Fixed Income Default Risk: The failure of an issuer or a counterparty to meet its payment obligations of a financial asset in the Sub-Fund will have a negative impact on the Sub-Fund.
Derivative Risk: A Sub-Fund may use derivative instruments for both efficient portfolio management and for investment purposes. Derivative transactions may be subject to significant volatility which may result in a loss greater than the principal amount invested.
Counterparty Risk: A Sub-Fund may have credit exposure (by virtue of position in swaps, repurchase agreements, FDI etc.) to its trading parties and may bear the risk of default of the counterparties.
Operational Risk: A Sub-Fund may risk loss resulting from process failures, inadequate procedures or controls.
Liquidity Risk: The risk that the Sub-Fund may invest some of their assets in illiquid securities and other illiquid financial instruments, in respect of which they may not always be possible to execute a buy or sell order at the desired price or to liquidate the open position.
Interest Rate Risk: Fixed income securities are typically interest rate sensitive, therefore changes in interest rates can result in positive or negative fluctuations in the value of the assets held by the Sub-Fund.
Currency Risk - Base Currency: Securities may be denominated in currencies different from the Sub-fund's Base Currency and there is a risk that changes in exchange rates and exchange control regulations may cause the value of the assets expressed in the Base Currency to rise or fall.
Emerging Markets Risk: Emerging markets are typically smaller, less transparent, and subject to evolving, less stable political and regulatory regimes and securities from these markets may be more expensive to transact in, bear higher risk or have lower liquidity.
Counterparty Risk – Depositary and Sub-Custodians: Custody services in many emerging markets remain undeveloped and there is a transaction and custody risk of dealing in emerging market investments.
ESG Risk: Risks associated with the environmental, social and governance variables, which could potentially affect the financial situation or operating performance of the Fund. These include sustainability risk, ESG Categorisation Risk and ESG Data Risk.
Price of Securities Risk: All types of investments and all markets and therefore the Fund and the Underlying Fund are at risk of market volatility based on prevailing economic conditions.
Sovereign Debt Risk: The Sub-Funds’ investments in securities issued or guaranteed by governments may be exposed to political, social and economic risks.
Risks associated with QFI scheme: The Sub-Fund may suffer substantial losses if the approval of the QFI status is being revoked/terminated or otherwise invalidated as the Sub-Fund may be prohibited from trading of relevant securities and repatriation of the fund’s monies.
Risks Relating to China: Risks of investing in China arise from an uncertain taxation and political regime, restrictions on inward investment, dealing in closed currency and custody arrangements which are not to the same standard as those in developed markets and where the Sub-Fund invests in eligible China A-Shares via the Stock Connect, such investments are subject to risks including market, suspension and operational risks.
The risk factors described above should not be considered an exhaustive list of risks, which potential investors should consider before investing in the Sub-Fund. For more details on the fund's potential risks please read the Prospectus and Key Investor Information Document at pinebridge.com/funds
Total Returns (%)
The Fund performance is calculated net of fees on NAV to NAV in USD with dividends reinvested. Returns over one year are annualized. Performance is representative of A class in USD. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than the base currency of the fund. Past performance is not indicative of future results.
Portfolio Composition
| Number of Securities | 106 |
| Morningstar Rating | ★ |
Risk Characteristics
As of 31 Jul 2024| 3 Years | |
| Information Ratio | -2.2 |
| Tracking Error (%) | 1.0 |
| 3 Years | |
| Standard Deviation | 5.98 |
| Beta | 1.0 |
| R Squared (%) | 97.3 |
Portfolio Characteristics
As of 31 Jul 2024| Average Coupon (%) | 3.2 |
| Average Yield to Maturity (%) | 5.2 |
| Average Duration Years | 6.7 |
| Average Credit Rating | Aa3/A1 |
Sector Breakdown (%)
As of 31 Jul 2024| Fund | Benchmark | |
| Government | 68.4 | 67.9 |
| Financial Institutions | 26.1 | 7.1 |
| Consumer Cyclical | 3.0 | 1.5 |
| Transportation | 1.1 | 0.5 |
| Technology | 0.7 | 1.2 |
| Capital Goods | 0.5 | 0.9 |
| Consumer Non-Cyclical | 0.0 | 2.5 |
| Energy | 0.0 | 1.1 |
| Other | -0.8 | 17.3 |
| Cash | 1.1 | 0.0 |
Top Ten Holdings (%)
As of 31 Jul 2024| Fund | |
| 0.375% US TREASURY N/B 2024-09-15 | 4.7 |
| 4.5% CANADA-GOV'T 2025-11-01 | 2.2 |
| 2.4% JAPAN GOVT 30-YR 2038-09-20 | 2.1 |
| 2.25% SWISS (GOVT) 2031-06-22 | 2.1 |
| 0.4% JAPAN GOVT 5-YR 2029-03-20 | 2.1 |
| 2.1% JAPAN GOVT 20-YR 2029-03-20 | 2.1 |
| 1.9% JAPAN GOVT 20-YR 2029-03-20 | 2.1 |
| 5.75% CANADA-GOV'T 2033-06-01 | 2.0 |
| 3.75% UK TSY GILT 2053-10-22 | 2.0 |
| 1.25% AUSTRALIAN GOVT. 2032-05-21 | 2.0 |
Credit Rating (%)
As of 31 Jul 2024| Fund | Benchmark | |
| Aaa | 16.1 | 11.9 |
| Aa | 29.6 | 42.7 |
| A | 29.3 | 31.3 |
| Baa | 23.9 | 14.1 |
| Ba | 0.6 | 0.0 |
| B | 0.5 | 0.0 |
Geographical Breakdown (%)
As of 31 Jul 2024| Fund | Benchmark | |
| United States | 29.8 | 40.5 |
| Japan | 14.8 | 10.1 |
| United Kingdom | 9.7 | 4.3 |
| Canada | 8.5 | 3.5 |
| Italy | 6.7 | 3.1 |
| Germany | 4.9 | 4.7 |
| France | 4.7 | 5.1 |
| Switzerland | 4.2 | 0.8 |
| Other | 16.4 | 28.0 |
| Cash | 0.3 | 0.0 |
Fees and Expenses
| Entry/Exit Fee | 5% / 3% |
| Investment Management Fee | 1.10 % |
| Ongoing Charge | 1.97% |
| Total Expense Ratio | 2.06% |
| Service Fee | 0.5% |
Fund Documents
Disclaimer
This is a marketing communication. This is not a contractually binding document. Please refer to the Prospectus of the UCITS and to the KIID and do not base any final investment decision on this communication alone.
This marketing document relates to PineBridge Global Funds (the “Fund”) and its Sub-Fund PineBridge Global Bond Fund (the “Sub-Fund”). The Fund is an open-ended umbrella unit trust with segregated liability between sub-funds established and authorised in Ireland as an undertaking for collective investment in transferable securities (UCITS) pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011) as amended and authorised by the Central Bank of Ireland.
This document is issued by PineBridge Investments Ireland Limited, the Manager and Global Distributor of the Fund, a limited liability company incorporated in Ireland having as sole business the management of collective investment vehicles. This document is for information purposes only and does not constitute any legal, tax and financial advice or recommendation to buy or sell any unit classes of the fund or any investment instruments. Tax Treatment depends on the individual circumstances of each client and may be subject to change in the future. We recommend the investor to liaise with his/her tax or legal counsel to receive further information about the tax treatment applicable to his/her personal situation. PineBridge Investments LLC (regulated by the Securities & Exchange Commission) and PineBridge Investments Europe Limited (regulated by the Financial Conduct Authority) are investment managers of the sub-fund.
There can be no assurance the Sub-Fund investment objective will be achieved or that there will be a return on capital.
Past performance is not indicative of future returns. No benchmark is directly comparable to the investment objectives, strategy or universe of a Sub-Fund. The performance of a benchmark shall not be indicative of the past or future performance of any Sub-Fund.
Source of characteristics: Bloomberg Port +/ source of statistics: State Street as of the date of this document. For illustrative purposes only. Holdings/allocations are subject to change. Any reference to a specific company or security does not constitute a recommendation to buy, sell, hold or directly invest in the company or securities. It should not be assumed that the recommendations made in the future will be profitable or will equal the performance of the securities discussed in this document.
Copyright © 2024 Morningstar. All rights reserved. Source of rating: Morningstar. Reference class: A, Morningstar category: EAA Fund Global Bond - USD Hedged. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past ratings do not prejudge the future performance of the unit class.
The Sub-Fund has been given its SFDR Categorisation based on Sustainable Finance Disclosure Regulation 2019/2088 and current law and regulation. Changes in law and regulation, the interpretation of law and regulation, new regulatory technical standards coming into effect and/or changes in regulatory guidance may result in a change of categorisation of the Sub-Fund.
Switzerland - The Prospectus, the Key Investor Information Document (KIID), the Trust Deed as well as the annual and semi-annual reports of the Fund may be obtained free of charge on the homepage of the management company or from the Swiss Representative. The Representative and Paying Agent of the Fund for Switzerland is State Street Bank International GmbH Munich, Zurich Branch, Beethovenstrasse 19, 8027 Zurich. PineBridge Investments Switzerland GmbH is affiliated with the Swiss Chambers’ Arbitration Institution (SCAI), 4, boulevard du Théâtre, P.O. Box 5039, 1211 Geneva 11, Switzerland, Tel: +41 (0)22 819 91 57.