Standard & Poor's Fund Services (S&P) has released the ratings from its international fixed interest review, awarding PIMCO's fund with its highest accolade.
S&P rated 16 investment strategies in its review, assigning PIMCO's Diversified Fixed Interest Fund a five-star rating once again, while eight managers received four stars, six managers were assigned three stars, and one fund was rated two stars.
"The high number of funds rated four stars and above reflects the strength of the peer group, which can be characterised by large global investment teams, well-established processes and market-leading systems," S&P analyst Anthony Karaminas said.
"While the 2009 review detailed the evolution of diversified fixed interest strategies to a wider opportunity set, our 2010 review highlights the benefits of accessing certain specialist sectors."
Strategically, managers continue to have a bias to the domestic market, while allocating internationally on a more tactical basis, Karaminas said.
"Performance over the past 12 months has been strong, with the majority of managers comfortably outperforming their benchmark, as would be expected in the current market environment," he said.
