problem by Amar : PIMCO FUNDS question (Muncie, Joey V) Query: March 31st bond fund PIMCO sold all asset-backed securities issued by Ford Motor Credit unique objective automobiles due to the higher risk of default on these securities sponsored. True or False: I checked the most current ten-K PIMCO. I see Ford mentions by making a document search. But have no thought how this details would help me resolve this problem. The answer ought to be here, but I’m not certain: http://www.gyc.com.sg/AnnualReports/A_R_ALG731.pdf Greatest answer:
response JoeyV
The annual report shows that it is accurate. All Ford paper there is ordinary corporate bonds, bank debt (bank debt is frequently safer than bonds), and an exchange of deafult credit with an individual on Ford. The only factor that could describe this “Canada” in an international bond fund: Ford Securitization Trust automobile4.817% due 10/15/2012 1,700 1,733 CAD This paper is apparently AAA Ford Credit Canada Restricted with a bunch of credit enhancement, over-collateralization, blah, blah.J ‘go with Correct. (Of course get an old annual report suggests that after belonged PIMCO straighten it “sold” element. At least we have concluded that they “stand”).
