Personal Finance.

Why does my PIMCO High Yield Account say it invests in energy but hold bonds from Wachovia and Bank of America?

I am choosing which 401K accounts to invest in. Under “Industry Sectors” the PIMCO High Yield Account says “Energy 100%” as its “Long %”. However, under Top Ten Holdings, it lists Wachovia, Bank of America, First Data, Qwest Comms Intl and other companies that have nothing to do with energy. (It also lists some Energy Future Holdings.)

Why is this?

Something you need to understand is that Morningstar and fund descriptions are wrong.

The mutual fund just needs to be classified, so this is set up initially. However, through the course of the funds continuance. There will be variations on what they are invested in.

It’s not uncommon for mutual funds to state that they are 100% long-term growth. However, if the prospectus and information for the fund is changed. That doesn’t change the classification of the fund.

Goto Morningstar and research the top 5 small cap growth funds. You might find that they don’t have $1.00 invested in a small cap company.

It’s good that you read the top 10 investments. You should continue to do this throughout.

Most individuals will chase the return of the fund, not even knowing what or how the fund is allocated. This compounds dissolution of a portfolio, and could cause over-weighted positions.

Just my two cents.

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Yield Spread $70.1 High Quality Content by WIKIPEDIA articles In finance, the yield spread is the difference between the quoted rates of return on two different investments, usually of different credit quality. It is a compound of yield and spread. The yield spread of X over Y is simply the percentage return on investment (ROI) from financial instrument X minus the percentage return on investment from financial instrument Y (per annum). The yield spread is a way of comparing any two financial products. In simple terms, it is an indication of the risk premium for investing in one investment product over another. When spreads widen between bonds with different quality ratings it implies that the market is factoring more risk of default on lower grade bonds. For example, if a risk free 10 year Treasury note is currently yielding 5 while junk bonds with the same duration are averaging 7, the spread between Treasuries and junk bonds is 2. Author: Surhone, Lambert M./ Timpledon, Miriam T./ Marseken, Susan F. Binding Type: Paperback Number of Pages: 102 Publication Date: 2010/07/21 Language: English Dimensions: 6.00 x 9.02 x 0.24 inches

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