Pimco unveils global fund

Pimco today launched a global bond mutual fund, the Pimco Global Advantage Strategy Bond Fund (PSAIX). The fund can purchase corporate bonds, government bonds, junk bonds and other fixed-income instruments with short- and long-term maturities that are selected from global markets. The co-managers of the fund are Mohamed El-Erian, co-chief investment officer, and Ramin Toloui, executive vice president. The offering comes on the heels of the firm’s launch last month of a global bond index, the Global Advantage Bond Index, which the fund will use as a benchmark. The index covers global markets and uses a weighting system based on gross domestic product. Pacific Investment Management Co. LLC of Newport Beach, Calif., had $747 billion in assets under management as of Dec. 31.