Pimco High Yield Instl Investment Analysis and Review

The Pimco High Yield Instl fund is a high-yield bond investment option that aims to provide a competitive return with relatively low risk.

This fund is designed for institutional investors, with a minimum investment requirement of $1 million.

It has a low expense ratio of 0.55%, which is significantly lower than the average expense ratio for high-yield bond funds.

The fund invests in a diversified portfolio of high-yield corporate bonds, with a focus on investment-grade bonds.

Pimco's experienced team of portfolio managers uses a rigorous credit analysis process to select securities with strong credit profiles.

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The PIMCO High Yield Instl fund (PHIYX) is a High Yield Bond fund started on 12/15/1992 with $16.80 billion in assets under management. It's been around for a while, but its current manager has been running the show since February 1, 2010.

This fund has a relatively high expense ratio of 0.55%, which means you can expect to pay $17,164.20 in fees over the lifetime of your investment. That's a significant chunk of change.

PIMCO High Yield Instl has 886 securities in its portfolio, with the top 10 holdings making up only 14.5% of the fund's assets. This suggests a fairly diversified portfolio.

The fund is part of the Fixed Income global asset class and is within the Taxable Bond fund group. It has 11.0% of its portfolio invested in foreign issues, which might be a consideration if you're invested in the US market.

One thing to keep in mind is that PIMCO High Yield Instl is not considered to have an ESG focus, which might be a concern for investors who prioritize environmental, social, and governance considerations.

The fund's turnover rate is not specified, but we do know that active mutual funds have an average turnover rate of about 85%. This can result in higher costs and taxes for investors.

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The PIMCO High Yield Instl fund was incepted in December 1992 and is managed by PIMCO Advisers.

This fund invests at least 80% of its assets in a diversified portfolio of high yield securities, also known as junk bonds, rated below investment grade but rated at least B by Moody's or S&P, or, if unrated, determined by PIMCO to be of comparable quality.

The fund has $7 billion in total assets, which is above the $501 million average for the High Yield Bond category, and normally distributes its dividend income monthly and its capital gains annually.

You can contact PIMCO directly by calling 888-877-4626 or visiting their website at www.pimco.com.

Assets Under Management is an important factor to consider when evaluating a fund. The PIMCO High Yield Instl fund has $7 billion in total assets, significantly above the $501 million average for the High Yield Bond category.

This large asset base can be a double-edged sword. On one hand, it's desirable to have more assets, as it can lead to lower average expense ratios. On the other hand, if assets grow too large or too quickly, it may be difficult for the manager to fully employ their desired active strategy.

The PIMCO High Yield Instl fund normally distributes its dividend income monthly and its capital gains annually.

When analyzing fund details, it's essential to understand the load information associated with a particular fund. Load information can significantly impact your investment returns.

The load information for a fund typically includes the maximum load percentage, deferred load percentage, redemption fee percentage, 12b-1 fee percentage, management fee percentage, and expense ratio percentage.

The maximum load percentage for some funds, like PIMCO High Yield Inst, is not applicable (NA). This means that there is no maximum load percentage for this particular fund.

For your interest: Unavailable Funds Fee

The PIMCO High Yield Instl fund has an expense ratio of 0.60%, which is 37% lower than its category average, earning it an expense ratio grade of A. This is a notable achievement, especially considering that high annual expense ratios can reduce your rate of return.

High portfolio turnover can lead to higher expenses and lower aftertax returns. PIMCO High Yield Instl has a portfolio turnover rate of 43%, which is lower than the average of 53% for the High Yield Bond category.

Here's a breakdown of the fund's fees:

Recently, in November 2024, the fund returned 1.0%, earning it a grade of D, as the High Yield Bond category had an average return of 1.1%.

The PIMCO High Yield Instl fund has an expense ratio of 0.60%, which is 37% lower than its category average. This makes the fund's expense ratio grade an A.

A high expense ratio can significantly reduce your rate of return over time. Active management, like that of PIMCO High Yield Instl, typically comes with higher expense ratios than passive index management.

PIMCO High Yield Instl has a portfolio turnover rate of 43%, which is lower than the average turnover rate of 53% for the High Yield Bond category.

The fund's return of 1.0% in November 2024 earned it a grade of D, as the High Yield Bond category had an average return of 1.1%.

Here are some key statistics about the fund's management team:

It's worth noting that high portfolio turnover can lead to higher expenses and lower after-tax returns.

The operating fees of a fund can greatly impact your investment returns. PIMCO High Yield Instl has an expense ratio of 0.60%, which is 37% lower than its category average.

Breaking down the expense ratio, we have the management fee, which is 0.55%. This is a relatively low fee compared to the category average of 1.75%.

The administrative fee is 0.30%, which is also very low, ranking in the top 95% of the category.

Here's a summary of the operating fees:

A lower expense ratio can lead to higher returns, so it's essential to compare the fees of different funds to make an informed decision.

The PIMCO High Yield Instl fund is designed to provide high current income and potential for long-term capital appreciation.

It invests in a diversified portfolio of high-yield bonds, which typically offer higher yields to compensate for the increased credit risk.

The fund's focus on high-yield bonds can be a good option for investors seeking higher income in a low-rate environment.

PIMCO High Yield Instl has a relatively high expense ratio of 0.63%, which is higher than some other bond funds.

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Grades are a way to measure how well a fund is performing compared to its peers. The fund's grade is based on its return over different time periods.

The PIMCO High Yield Instl fund has a grade of D for its year-to-date return, which is 7.1%, 0.9 percentage points worse than the category. This is also reflected in its past year return of 11.0%, which is 0.6 percentage points worse than the category.

The fund's grade varies over different time periods, with a grade of D for the past five years and a grade of B for the past 10 years. This suggests that the fund's performance has been inconsistent over time.

Here are the fund's grades for different time periods:

The fund's grade is not the only factor to consider when evaluating its performance. Other metrics, such as its standard deviation and total risk index, can also provide insight into its risk profile.

Concentration analysis is a crucial aspect of investment analysis. It helps investors understand how concentrated a fund's portfolio is.

A fund with a large number of holdings, like PHIYX with 763 holdings, is generally considered to be less concentrated than one with a smaller number of holdings, such as Category Low with only 2 holdings.

PHIYX's net assets of $8.56 billion are significantly larger than Category Low's $3.13 million, indicating a greater diversification of assets.

The weighting of top 10 holdings in PHIYX is 16.82%, which is relatively low compared to Category High's 143.3%. This suggests that PHIYX's top holdings do not dominate the overall portfolio.

Here's a comparison of PHIYX and Category Low's concentration metrics:

This table highlights the significant differences in concentration between PHIYX and Category Low.

PIMCO High Yield Instl's return and distribution strategy is designed to provide investors with a regular income stream. The fund's investment objective is to generate high current income and long-term capital appreciation.

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The fund invests in a diversified portfolio of high-yield bonds, which are typically issued by companies with lower credit ratings. This allows the fund to generate higher yields, but also comes with a higher level of risk.

PIMCO High Yield Instl typically distributes a significant portion of its income to investors on a quarterly basis.

Dividend Analysis is an essential aspect of Return and Distribution. The dividend yield of PHIYX is 6.33%.

This means that for every dollar invested, you can expect to earn around 6 cents in dividend income. The category low for dividend yield is 0.00%, while the category high is 11.76%.

PHIYX ranks 60.56% in the category for dividend yield, indicating that it's above average.

The return data for these funds is quite interesting. PIMCO High Yield Inst has a 1 year return of 10.99%, while PIMCO High Yield A has a 1 year return of 10.60%.

The 2 year returns are lower, with PIMCO High Yield Inst at 3.23% and PIMCO High Yield C at 2.11%. This suggests a slight decline in performance over the past two years.

PIMCO High Yield Inst and PIMCO High Yield Adm have the highest 3 year returns, at 3.64% and 3.39% respectively. This indicates a relatively stable performance over the long term.

Here's a summary of the 1 year returns:

It's worth noting that the inception dates for these funds are all from 1992, indicating a long history of performance data.

The concept of distributions has a long history dating back to ancient civilizations where goods were exchanged through bartering and trading.

The first recorded use of distributions was in ancient Greece around 500 BCE, where merchants used distributions to allocate goods among communities.

Distributions were also used in ancient Rome to manage the distribution of food and other essential goods to the population.

In the 17th century, the concept of distributions evolved with the development of modern capitalism, where companies began to use distributions to allocate goods to customers.

The first modern distribution system was established in the United States in the late 19th century, with the introduction of railroads and the expansion of the railroad network.

The growth of retail in the 20th century led to the development of new distribution methods, including the use of warehouses and logistics companies.

The rise of e-commerce in the 21st century has further transformed the way distributions are managed, with the use of online platforms and digital tools to facilitate the distribution of goods.