A PIMCO press release says GLADI covers a broad set of markets and claims it uses more robust construction approaches than many other indexes. The index will also serve as a benchmark for a new product to be introduced this month by PIMCO, according to the release.
“The global economy is in the midst of dramatic transformations in growth drivers, wealth dynamics, and institutions. These changes are affecting the ability of traditional investment approaches to generate sustainable returns while cautiously managing risks. GLADI is constructed explicitly to give investors a potential first-mover benefit as they position their fixed income portfolios for this journey as well as for the future global landscape,” the company said.
The PIMCO Global Advantage Bond Index will be administered and calculated independently from PIMCO by Markit LLC, an unaffiliated leading financial information services company and global index provider. More information on the index is at http://www.pimcoindex.com/ .