PIMCO March Update | Valuations Coming Back To Earth But Have Further To Go

Summary

• PIMCO Dynamic Income's valuations have come down but are still elevated, with a premium of 10.3% compared to fair value of 7.5%-8.0%.

• PIMCO funds have added leverage, except for older, smaller funds which reduced leverage significantly.

• Coverage ratios for distributions have improved slightly, with PIMCO Access Income having the highest coverage ra…