PIMCO Plans Active ETF Versions of More Funds
June 8th 2012 at 9:54am by John Spence
PIMCO has filed to introduce ETF counterparts for three of its large mutual funds as the investment manager tries to capitalize on the success of PIMCO Total Return ETF (NYSEArca: BOND).
The firm plans to launch ETF versions of its $23.8 billion PIMCO Real Return Fund, $21.3 billion PIMCO Low-Duration Fund and $5.7 billion PIMCO Diversified Income Fund, InvestmentNews reports.
The ETF offshoots of PIMCO Real Return Fund and PIMCO Diversified Income Fund will be captained by the same managers as the mutual funds.
However, PIMCO Low-Duration Fund manager Bill Gross will not oversee the ETF cohort, according to the report.
Gross manages BOND — PIMCO Total Return ETF — which was launched in March and has already grown to over $1 billion in assets. [The 10 Most Successful New ETFs of 2012]
For the three months ended June 5, BOND posted a gain of 5.1%, compared with 2% for the Class A shares of PIMCO Total Return Fund. [Why PIMCO Total Return ETF is Outperforming the Mutual Fund]
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