The largest share of Rob's portfolio currently is invested in so-called "real
return" strategies. Whatever their underlying investments may be (Real
Estate, Commodities or Bonds), real return funds tend to be positively
correlated to inflation and thus are well suited for the current reflationary
environment.
| Pimco All Asset Fund
- Asset Allocation (as of 6/30/04) |
| REAL RETURN STRATEGIES |
44.4% |
BOND STRATEGIES |
25.0% |
| CommodityRealReturn Strategy |
14.6% |
Low Duration Strategy |
7.7% |
| RealEstateRealReturn |
13.4% |
GNMA Strategy |
5.3% |
| Real Return Strategy |
8.1% |
High Yield Strategy |
4.0% |
| Real Return Asset Strategy |
7.7% |
Emerging Markets Bond Strategy |
8.0% |
| EQUITY STRATEGIES |
23.8% |
OTHER |
7.4% |
| StocksPlus Strategy |
11.9% |
|
|
| Int'l StocksPLUS Total Return |
6.0% |
|
|
| StocksPlus Total Return Strategy |
5.9% |
|
|
While Rob currently expects to maintain weightings similar to those above,
of about 25% in stocks, 25% in conventional bonds, and 50% in the real
return strategies, for some time, like anyone else, he is free to change
his mind! Real return strategies include TIPS (Real Return), commodities
and real estate. It is safe to say, however, that he is likely to at least
maintain a reasonable exposure to all three areas.
