KSAM – PIMCO Highlight Investment Opportunities Amid Declining Interest Rates

Since Krungsri Asset Management Company Limited (KSAM) currently holds the highest industry investment in the PIMCO GIS Income Fund, with a total of over THB 20 billion across seven feeder funds, reflecting strong investor demand for this fund group (Source: Morningstar Thailand, as of 22 Aug 2025), Ms. Supaporn Leenabanchong, KSAM's Managing Director, together with Ms. Lily Feng, Vice President and Product Strategist (2nd left) and Ms. Clara Ng, Vice President, Account Manager from PIMCO, which manages this world-class fixed income fund, co-hosted a special seminar titled “Navigating Global Fixed Income: Expert Perspectives by PIMCO and KSAM.” The session also featured Mr. Kiattisak Preecha-anusorn, CFA, KSAM's Chief Alternative Investment Officer, Alternative Investment Department, who shared his views on the economic outlook and investment strategies in high-quality global fixed income assets that can address today’s market environment.

Mr. Kiattisak noted during the seminar “The U.S. economy is showing signs of slowing, particularly in the labor market, where unemployment has been rising. Market expectations are that the FED may cut rates twice this year, with rates potentially falling to 3.0% by the end of 2026. In periods of declining interest rates and market volatility, a favored strategy is investing in high-quality fixed income funds to generate stable cash flows and reduce market risk. Increasing allocation to quality global bonds is therefore a compelling option. We recommend funds that are broadly diversified across global fixed income sectors, with the flexibility to adjust portfolios to manage risks and capture return opportunities amid changing market and interest rate conditions.”

Ms. Lily Feng added “Although economic and geopolitical challenges persist across many regions, global high-quality fixed income markets continue to offer attractive yields and long-term growth potential. Developed market bonds, in particular, remain a key focus for investors. The decline in government bond yields and narrowing credit spreads reflect strong confidence in quality fixed income assets. PIMCO also expects inflationary pressures to ease in certain regions, which could support rate cuts. This, in turn, should lift bond prices and make yields across many fixed income segments more attractive. During volatile periods, global high-quality fixed income provides a means to reduce volatility while enhancing return potential in a falling rate environment.”

She further emphasized “PIMCO GIS Income Fund taps into investment opportunities across the USD 156 trillion global fixed income market. With a rigorous asset selection process, the fund is positioned to deliver consistent and sustainable income. As of July 2025, the portfolio’s average yield-to-maturity stood at 6.51%.” (Source: PIMCO, 27 Aug 2025. Past performance of mutual funds is not indicative of future results.)

Mr. Kiatisak also highlighted KSAM’s seven feeder funds that invest in the PIMCO GIS Income Fund, designed to meet various investor needs:

• KF-CSINCOME: Suitable for investors seeking long-term capital growth.
• KF-SINCOME: Designed for those who prefer regular income through automatic redemption.
• KF-SINCOME-FX-A / KF-SINCOME-FX-R: For investors looking for potential additional returns from foreign exchange exposure, available in both accumulation and automatic redemption classes.
• KF-SINCOME-USD – The latest fund, investing in USD (the same currency as the master fund), ideal for investors with existing USD savings.
• KF-SINCOMERMF / KF-SINCOME-FXRMF: RMF options offering tax benefits alongside long-term income opportunities.

For details of each fund, click:

• KF-CSINCOME | KF-SINCOME | KF-SINCOME-FX-A | KF-SINCOME-FX-R
• KF-SINCOME-USD
• KF-SINCOMERMF | KF-SINCOME-FXRMF

For more information/ request for prospectus, please contact Krungsri Asset Management
Tel. 0 2657 5757 press 2 or Bank of Ayudhya PCL. / Selling Agents

Investment Notes & Disclaimers:

• RMF funds are for retirement investment. Tax benefits will not apply if investors fail to meet RMF conditions.
• Investors should carefully study product features, return conditions, risks, and tax benefits in the investment handbook before making decisions. Past performance of mutual funds is not indicative of future performance.
• KF-SINCOME-FX, KF-SINCOME-FXRMF: Foreign exchange hedging is at the fund manager’s discretion. Investors are therefore exposed to FX risks, which may result in losses, gains, or returns lower than the initial investment.
• KF-SINCOME, KF-SINCOME-FX-R: Payouts depend on the performance of the master fund. There may be periods where investors receive no distribution.
• KF-SINCOME-USD: In cases of non-USD investments, FX hedging is at the fund manager’s discretion, exposing investors to FX risks that may cause losses, gains, or returns below the initial investment.