PIMCO Strategic Income Fund Inc.
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$6.05
- Net Assets:$196.5 Million
- NAV:$4.4
- Premium37.5%
- Peer Rank:7 of 19
- Investment Rating:C-
- Performance:C+
- RiskC
We rate PIMCO Strategic Income at C-. Positive factors that influence this rating include a greater than average total return. The fund invests approximately 98% of its assets in bonds and may be considered for investors seeking a General Mortgage strategy.
Total return ranks above peers over the last three years. The PIMCO Strategic Income has returned an annual rate of 7.54% since inception. More recently, the fund has generated a total return of -0.20% in the last five years, 4.78% in the last three years, and 16.71% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 13% of them. It has also outpaced 59% of its competitors on a three year basis and 71% of them over the last year for the period ending 2/29/2024. On a year to date basis, RCS has returned 1.76%.
Downside risk has been above average. RCS has a draw down risk of -40.68%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 22.8%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $196.50 million, RCS maintains a high expense ratio compared to its General Mortgage peers of 3.87% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As RCS is a closed end fund, it has no front end or back end load.
Manager tenure and performance record are net positives. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The PIMCO Strategic Income has been managed by Daniel J. Ivascyn for the last 22 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 98% of other fund managers.