PIMCO Total Return ETF (NYSEArca: TRXT), the new exchange traded fund managed by Bill Gross, has gathered nearly $300 million in less than a month of trading.
The ETF held assets of $277.7 million at Thursday’s close. The fund began trading on March 1.
“There have been 82 new ETFs listed thus far for the year and they have collectively gathered $1.1 billion in new assets through Wednesday’s close of business,” says ConvergEx Group chief market strategist Nicholas Colas.
“While 63% of those funds have been equity focused, fully 67% of the asset growth for the year has flowed into fixed income products,” he wrote in a report Friday.
Just over half the total money invested in these new 82 funds has had two destinations: iShares Barclays U.S. Treasury Bond Fund (NYSEArca: GOVT) with $297 million in flows, and PIMCO Total Return ETF with $267 million in flows in under a month. [PIMCO’s Gross Favors Shorter Duration, Inflation-Protected Bonds]
“The total amount of ETF assets under management is $1.2 trillion. Total net inflows into the space are $56.7 billion, so the new crop of 2012 ETFs are really a small part of the overall fund flows picture for the industry,” Colas added.
PIMCO Total Return ETF will change its ticker to BOND on April 4. [PIMCO Changing Total Return ETF Ticker to BOND]
PIMCO Total Return ETF
