投資者在投資之前應(yīng)謹(jǐn)慎考量投資目標(biāo)(參考版)
2024-10-21 15:20本頁(yè)面
【正文】 this risk may be enhanced when investing in emerging markets. Highyield bonds typically have a lower credit rating than other bonds. Lower rated bonds generally involve a greater risk to principal than higher rated bonds. Mortgagebacked securities are subject to prepayment risk and may be sensitive to changes in prevailing interest rates. When interest rates rise, the value of fixed ine securities generally declines. These Funds may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a fund could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested in those instruments. These Funds are nondiversified, which means that it may concentrate its assets in a smaller number of issuers than a diversified fund. Diversification does not ensure against loss. The credit quality of a particular security or group of securities does not ensure the stability or safety of the overall portfolio. Fund Structure The portfolio structure presented is intended to illustrate sectors in which the portfolios may invest. The structure is subject to change and no guarantee is being made that similar results will be achieved. Tracking Error/Information Ratio Tracking error is defined as the standard deviation of the portfolio’s relative return vs . the benchmark. The information ratio is defined as the portfolio’s relative return per unit of risk, or tracking error. Outlook and Strategy Statements concerning financial market trends are based on current market conditions, which will fluctuate. There is no guarantee that these investment strategies will work under all market conditions, and each investor should evaluate their ability to invest for the longterm, especially during periods of downturn in the market. Outlook and strategies are subject to change without notice. Efficient Frontiers The efficient frontier models illustrate performance of the Citigroup World Government Bond Index (WGBI) vs . the LBAG and the Citigroup . Treasure Index from the dates illustrated on the graphs. Different time periods may produce different results. This information does not illustrate the past or future performance of any PIMCO product. Certain assumptions were made in this analysis, which have resulted in the returns detailed herein. Transaction costs (such as missions) are not included in the calculation of returns, and changes to the assumptions may have an impact on any returns detailed. Appendix 16 PIMCO Experience The years of experience of the portfolio management and credit team includes all credit analysis and workrelated experience, respectively, including firms other than PIMCO. Index Descriptions The Lehman Brothers Aggregate Bond Index is an unmanaged market index representative of the . taxable fixed ine universe. The Citigroup US Government Treasury Index is an unmanaged pr
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