PIMCO to launch three new ETFs and close four
PIMCO is launching three new actively managed exchange-traded funds – the PIMCO Fundamental IndexPLUS AR Active ETF, the PIMCO International Fundamental IndexPLUS AR Strategy Active ETF and the PIMCO Foreign Bond Active ETF (US Dollar Hedged).
Bill Gross, chief investment officer, will manage the Fundamental IndexPLUS AR Active ETF, Saumil Parikh, managing director and generalist portfolio manager, will manage the International Fundamental IndexPLUS AR Strategy Active ETF and Scott Mather, deputy chief investment officer and head of global portfolio management, will manage Foreign Bond Active ETF (US Dollar Hedged).
The two Fundamental IndexPLUS AR portfolios are actively managed equity strategies that seek total return in excess of their respective benchmark indexes, the S&P 500 and MSCI EAFE. The strategies provide exposure to a custom, fundamentally weighted stock portfolio created by Research Affiliates, and seek additional return potential and diversification benefits by investing in an absolute return-oriented bond portfolio.
PIMCO will close four ETFs. The four ETFs, which will be liquidated on or about 1 October, are: the PIMCO Australia Bond Index ETF (AUD), the PIMCO Canada Bond Index ETF (CAD), the PIMCO Germany Bond Index ETF (BUND), and the PIMCO Build America Bond ETF (BABZ).
The last day of trading on NYSE Arca for each liquidating fund is expected to be 26 September 2014.
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