PIMCO Set to Launch Money Market Alternative ETF | ETF Trends

Exchange traded fund (ETF) provider and bond giant PIMCO is launching a new fund today that’s billed as being a “higher-yielding alternative to money market funds.”

PIMCO Enhanced Short Maturity Strategy Fund (NYSEArca: MINT) is an actively managed ETF that will primarily invest in short duration investment-grade debt securities.

The portfolio’s average duration varies, depending on PIMCO’s economic forecasts and active investment process decisions. Normally, though, maturities will not exceed one year. Holdings will be disclosed daily. The expense ratio will be 0.35%.

The fund’s portfolio manager is Jerome Schneider, an executive vice president in PIMCO’s Newport Beach, Calif., offices. He joined PIMCO in 2008 and has 14 years of investment experience.

Read the prospectus here.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.