Pimco launches global equity income funds

The Dublin-domiciled funds will be managed from the company’s California head office by Brad Kinkelaar and Cliff Remily.

The Pimco EqS Dividend fund is aimed at investors seeking equity-based income, while the Pimco Dividend and Income Builder fund also uses selected fixed income investments. The fixed income portion of the fund will be managed by Eve Tournier, Pimco said.

Mr Kinkelaar said: “A key aspect of these strategies is that they are core solutions for gaining global equity exposure and growing income with defensive performance characteristics - participating in the upside while protecting on the downside.”

Mr Remily said: “A strategy focused on dividend-paying stocks purchased at attractive valuations can offer capital appreciation and a compelling total return with less volatility for equity investors.”

Pimco managing director and head of global equities Neel Kashkari said the funds were a continuation of the company’s expansion into active equity investments.

The management charge for the retail share classes of the funds is 2.19 per cent, Pimco said, while the minimum investment is $5,000 (£3,200).