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        You asked, we answered: Q&A with PineBridge Investments

        Hi, mooers!Wow
        In Funds Talk 02: Uncover Exceptional Opportunities with PineBridge Investments, PineBridge Investments has shared unique insights on areas of interest and explored investment opportunities with mooers.
        After the conversation, we received many valuable questions, and PineBridge Investments is now back in the spotlight to answer them. Let's take a look at their responses!
        Could you share the overall performance (after deduction of fees) of PineBridge Investments since inception?
        Our investment philosophy and process are time-tested and proven across market cycles, and importantly across both de-risking and re-risking markets. In addition, our GIPS-compliant Multi-Asset Composite (which the Global Dynamic Asset Allocation UCITS Fund is part of) dates back to 2005, and its track record is thus indicative of the long-tenured and time-tested investment process that is developed by the Global Multi-Asset Team. Since its inception (Jan 2005 – Sep 2023), the Multi-Asset Composite has returned 5.51% (net).
        Could you compare the overall performance(after deduction of fees) since inception with a passive investment index, e.g. MSCI World Index or S&P500 index, return in the same period?
        The Multi-Asset team’s Global Dynamic Asset Allocation (GDAA) Strategy is primarily long-only and total-return oriented, and managed from a fundamentally driven and intermediate-term (9–18 month) perspective. It is outcome-focused and aims to generate equity-like returns with approximately one-third less risk than equities over full cycles. Specifically, we seek to achieve total returns of (CPI+5%) over rolling five-year periods while dynamically managing risk to a 60/40 risk budget (60% MSCI ACWI (Net) Index/40% Bloomberg Barclays Global Treasury Total Return Index (USD Unhedged)). As a total return-oriented strategy, GDAA has successfully achieved its target goal of achieving CPI+5% over a rolling 5-year period, outperforming Global Equities and 60/40 – the hit rate stands at 54% for GDAA, compared to 52% for Global Equities and just 23% for the 60/40. Additionally, it has done averaging a 60/40 risk budget over the market cycle.
        You asked, we answered: Q&A with PineBridge Investments
        How much percentage of the total returns had been paid as fees on average?
        The management fee and service fee are 1.30% and 0.50% respectively. You may refer below for the fund’s performance.
        You asked, we answered: Q&A with PineBridge Investments
        What is the annualized dividend yield for the ADV share?
        The current annualized dividend yield for the Global Dynamic Asset Allocation UCITS Fund ADC share class is 8.7% as of Sep 2023.
        The strategy for both Global Dynamic Asset Allocation “A” share class ($PineBridge Global Dynamic Asset Allocation Fund(IE0034235295.MF)$) and “A5H” share class ($PineBridge Global Dynamic Asset Allocation Fund(IE000G9MARM6.MF)$) remains the same. The management fee and service fee are also the same at 1.30% and 0.50% respectively. However, the “A” share class is denominated in USD while the “A5H” share class is hedged back to SGD. This results in a slightly higher TER of 1.96% vs 1.94% as of 30/06/2023.
        What is the time horizon one should have when considering investing in this fund?
        5-Year on a rolling basis, or from a full market cycle perspective.
        May I know how can I interpret the calendar year performance in the factsheet? It seems inconsistent with Chart 2 in the post. Based on chart 2, the fund's total return during covid is -19% but the return on the factsheet is 7-8%.
        At PineBridge, we think Multi-Asset is about navigating across different market cycles and regimes. Chart 2 in the post is to illustrate our ability to navigate across the different drawdown periods that the market faced. The total return of -19% mentioned in Chart 2 of the fund pertains to a specific period during the COVID-19 pandemic. However, the return detailed in the factsheet corresponds to the entire calendar year of 2022.
        Why does the return seem lower than the benchmark in the fact sheet? Based on chart 2 above, the fund seems to consistently outperform the benchmark (at least during the crisis).
        The return appearing lower than the benchmark in the factsheet is a result of our current defensive stance. It's important to understand that our fund's performance, particularly during crises, has historically benefited from our ability to adopt a defensive position ahead of fundamental, long-lasting market downturns driven by underlying economic factors. However, this defensive posture can also lead to temporary underperformance when compared to benchmarks in certain market conditions.  

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        Thank you for your ongoing support of the Moomoo Funds Talk column!
        We are greatly inspired and encouraged by your active interactions! Keep an eye out for more exciting content in the days ahead, and feel free to contact us with any questions or comments.
        See you next time!Yeah!


        *Distribution payouts and their frequency are determined by the manager and can be made out of income, capital, or both. Investors should note that the payment of dividends directly out of capital may result in an immediate reduction of the net asset value per share of the Fund. Distributions are not guaranteed and may fluctuate. Past distributions are not necessarily indicative of future trends, which may be lower. For further information, please refer to the dividend document located on the website:  https://pinebridge.com or dividend records available on the Moomoo app.
        Important Information:
        This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. Information contained herein is provided for information purposes and does not constitute financial advice or recommendation with respect to the Fund and is prepared without regard to the specific objectives, financial situation or needs of any particular person who may receive it. Investors should read the prospectus and the Product Highlights Sheet and seek financial advice before deciding whether to purchase shares in the Fund. The value of the shares of the Fund may fall or rise. The Fund may use or invest in financial derivative instruments for portfolio management and hedging purposes. Investments in the Fund are subject to investment risks, including the possible loss of the principal amount invested. Subscriptions may only be made on the basis of the latest prospectus and Product Highlights Sheet, and they can be obtained from Wellington Management Singapore Pte Ltd or Fund distributors upon request.
        This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. See this link for more information.
        Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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