PIMCO has launched some mutual funds that are designed to provide retirees a steady stream of monthly income hedged against inflation.

Called the PIMCO Real Income Funds, the products use a “laddered” portfolio of primarily Treasury inflation-protected securities. says PIMCO, Newport Beach, Calif. They are intended as an anchor for investors’ retirement portfolios, the firm says.

The funds will initially be offered in two maturities, 2019 and 2029. They are designed to provide monthly payouts of principal and interest so that all assets will be distributed upon maturity, says PIMCO, a unit of Allianz S.E., Munich, Germany.