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PIMCO launches Senior Floating Rate Fund


Global investment management firm PIMCo has launched the PIMCO Senior Floating Rate Fund, giving investors access to the attractive yields and portfolio diversification benefits that can be offered in the senior secured floating rate market.

The PIMCO Senior Floating Rate Fund combines PIMCO’s proven investment process and global reach with the experience of Executive Vice President and Portfolio Manager Elizabeth "Beth" MacLean, who is based in Newport Beach.

MacLean brings a long record of managing bank loan portfolios. She previously oversaw the bank loan and structured-product areas as a portfolio manager with Lord Abbett. PIMCO has managed bank loans — senior secured floating rate loans typically tied to the London Interbank Offered Rate, or LIBOR — since 1996.

"The USD600 billion market for bank loans is an important source of attractive spreads and diversification, potentially enhancing yields in a low interest-rate environment and better preparing portfolios for a rise in rates," says MacLean. "Yet many investors are under-allocated in this important asset class, which also has a very low correlation to other asset classes, making it a true source of diversification within an investor’s portfolio."

Institutional shares of the PIMCO Senior Floating Rate Fund will trade under the ticker symbol PSRIX. Additional tickers include "D" shares (PSRDX), "A" shares (PSRZX), "C" shares (PSRWX), "R" shares (PSRRX) and "P" shares (PSRPX).

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