PIMCO Climate Bond Fund
PCEIX
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- PIMCO Climate Bond Fund (PCEIX) is an open-end mutual fund that seeks optimal risk-adjusted total returns, consistent with prudent investment management, while generating positive climate impact through investments in fixed income securities that address climate-related risks and opportunities. The fund ordinarily invests at least 80% of its net assets in a diversified portfolio of labeled and unlabeled green bonds, climate-aligned fixed income securities, and debt issued by companies demonstrating leadership in climate change mitigation and adaptation; it employs an exclusion strategy to avoid issuers with poor environmental practices and actively engages with select issuers to promote Paris Agreement alignment, science-based carbon reduction targets, and enhanced sustainability commitments. Core holdings emphasize government-related bonds (76.64%), corporate bonds (50.11%), futures/forwards (47.59%), and government securities (21.95%), with significant allocations to U.S. bonds (75.67%) and non-U.S. bonds (46.39%), alongside derivatives such as 5-Year Treasury Note Futures and Euro Bund Futures; the fund targets medium credit quality and moderate interest-rate sensitivity within the corporate bond category. Launched on December 10, 2019, and domiciled in the United States with management by Pacific Investment Management Company LLC (PIMCO), headquartered at 650 Newport Center Drive, Newport Beach, California, the Institutional Class (PCEIX) requires a $1 million minimum initial investment and maintains a net expense ratio of 0.61%. Recent developments include portfolio manager changes with Grover Burthey joining on August 10, 2022, and Regina Borromeo on June 1, 2023; a policy shift effective February 16, 2024, ceasing sales of Administrative Class shares to new investors; and ongoing enhancements to PIMCO's sustainable investing framework, such as the 2024 Sustainable Investing Report emphasizing advanced carbon analytics, issuer engagement, and energy transition strategies amid COP28 outcomes. The fund operates globally, available in markets including the United States and Singapore, as part of PIMCO Funds: Global Investors Series plc, focusing on institutional investors seeking ESG-integrated fixed income exposure.