Bond giant PIMCO has filed with the Securities and Exchange Commission to introduce an exchange traded fund (ETF) that would be managed by Bill Gross.
The fund, called PIMCO Total Return ETF, would be actively managed and not seek to replicate an index, according to the filing. It would typically invest at least 65% of its total assets in a diversified portfolio of fixed-income securities of varying maturities, according to paperwork PIMCO filed with the SEC.
Gross runs the world’s biggest bond fund, PIMCO Total Return Fund.
PIMCO Total Return ETF could launch relatively soon because the money manager has already received exemptive relief from the SEC for active ETFs, said Tom Lydon, editor of ETF Trends, which publishes this website. For example, MINT is an actively managed ETF.