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Global Fixed Income (PIMCO): A lower risk appetite at year-end

February 1, 2023

"Risk appetite declined in December as hawkish central bank rhetoric persisted and concerns surrounding economic growth burgeoned." — Alfred Murata


Contributors and detractors to the portfolio performance during the month of December were as follows:


  • Exposure to securitized credit, including agency and non-agency mortgage backed securities
  • Short exposure to Japanese duration and the Japanese Yen.


  • Exposure to U.S. and European duration
  • Exposure to emerging market local debt
  • Exposure to high yield credit

   Read the full commentary




Alfred Murata
Portfolio manager, PIMCO


Note: The differences in performance between the Class A units presented in these comments and the segregated fund are primarily due to differences in management fees. Performance quoted represents past performance. Past performance is not a guarantee or a reliable indicator of future results.


Topic : Portfolio Managers

Written by PIMCO

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