Last week, we wrote about some exchange traded fund (ETF) providers expanding their presence in markets abroad. Add another name to the list: PIMCO.
Now that PIMCO’s lineup of passive and actively managed fixed-income ETFs has met with success here, having amassed more than $2 billion in assets, the provider is now expanding into Europe.
PIMCO set up an ETF operation in Dublin, Ireland, and is aiming to launch their first ETF in the next month.
Don Suskind, head of PIMCO’s product management, told Murray Coleman at Barron’s that they planned to take the same general course in Europe that they did in the United States. That is, the provider will look for the best asset classes to benchmark against, and they’ll look for areas in which active management could create opportunities.
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