About PMTGX
The PIA MBS Bond Fund is a mutual fund that primarily invests in mortgage-backed securities, including both residential and commercial mortgage-backed securities. Its main objective is to deliver a total rate of return that exceeds the Bloomberg U.S. MBS Fixed Rate Index, using the index as its benchmark. The fund leverages Pacific Income Advisers' research, quantitative techniques, and yield curve analysis to construct a diversified portfolio designed to manage interest rate and credit risks inherent in the MBS sector. Noteworthy features include a focus on option adjusted spread analysis, prepayment forecasting, and the use of TBA (to-be-announced) securities to add value and enhance liquidity relative to traditional bond structures. The fund’s portfolio is characterized by a duration generally aligned within plus or minus one year of the benchmark, and holdings are diversified across government agency MBS, U.S. Treasury bills, and select commercial mortgage-backed assets. By maintaining a relatively low expense ratio and employing an institutional-style management approach, the PIA MBS Bond Fund provides investors of various sizes with efficient access to the nuanced mortgage-backed securities market, a segment essential for yield enhancement and risk management within the broader fixed income universe.
Fund Family PIA Mutual Funds
Category US Mortgage
Performance Rating Average
Risk Rating Above Average
Stock Exchange Nasdaq
Ticker Symbol PMTGX
Share Class Managed Account Completion Shares
Index Bloomberg US MBS Fixed Rate TR
PMTGX had a total return of -1.96% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.70%.
