Fund Research and Analysis

by Michelle Canavan Ward, CFA
PIMCO Real Return may fall short at times, but its long-term appeal remains intact. Mohamed El-Erian's early 2014 resignation and the personnel changes that followed raised enough questions to adjust PIMCO's Parent rating to Neutral from Positive. Despite   Read more 

Process Pillar:Positive

Manager Mihir Worah looks to obtain cost-efficient exposure to Treasury Inflation-Protected Securities and other inflation-linked bonds by seeking better execution than passive investors. He employs   Read more 

Performance Pillar:Positive

For most of 2011, PIMCO's investment committee steered the firm away from exposure to the Treasury market. That positioning--and a large allocation to non-TIPS holdings--kept the fund from greater gains   Read more 

People Pillar:Positive

This fund is overseen by PIMCO's Real Return team, led since 2007 by lead manager Mihir Worah. Like many of the firm's superstars, when Worah joined PIMCO in 2001, he had proved himself to be a brilliant and innovative thinker, if not yet a skilled   Read more 

Price Pillar:Neutral

The fund's Institutional share class, which soaked up nearly half of the fund's $15 billion asset base lately, comes with a 0.45% expense ratio, on par with the category median and average compared with   Read more 

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This Expensive Fund May Be Worth It 
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