Inflows of more than $2 billion so far this year have vaulted PIMCO Enhanced Short Maturity ETF (NYSEArca: MINT) to the top slot among actively managed exchange traded funds.
In fact, MINT recently passed PIMCO Total Return ETF (NYSEArca: BOND), which is managed by Bill Gross, as the largest active ETF. [PIMCO ETFs Trading Places]
MINT has proven popular with investors seeking an alternative to low-yielding money market funds, as well as access to PIMCO’s expertise in managing bond portfolios.
PIMCO is the largest provider of active ETFs in terms of assets. It manages seven active ETFs with total assets of $8.6 billion, or 59.6% market share, according to data from AdvisorShares. Overall assets in actively managed ETFs have increased by $983 million this year with 12 new funds launching.
MINT holds assets of about $4.2 after pulling in $2.1 billion of assets this year, according to IndexUniverse flow data. MINT invests primarily in short-duration investment grade debt securities. The fund seeks an average portfolio duration of less than one year and is overseen by Jerome Schneider at PIMCO.