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Strategies & Market Trends : The coming US dollar crisis
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To: Tommaso who wrote (20062)4/28/2009 12:11:39 PM
From: Tommaso   of 71456
 
PCRDX confuses people who try to research it for the first time. They find that it seems to hold nothing but Treasuries. Actually it holds TIPS which is uses as security for buying commodity-linked derivatives. It tracks the Dow commodities index.

"PIMCO Commodity RealReturn (NASDAQ:PCRDX - News)Finally, this fund offers a derivatives-based strategy that attempts to modestly beat the Dow Jones-AIG Commodity Index, a benchmark that provides exposure to a wide range of commodities, such as crude oil, wheat, gold, coffee, and more than a dozen others. Because commodities tend to display negative correlations to equity and bond returns, but a positive correlation to inflation, these assets have long been thought a good hedge against rising prices. Moreover, PIMCO's strategy using structured notes for commodity exposure allows it to overlay a portfolio of TIPS on top of its commodity exposure, providing a secondary measure of inflation protection."
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