“In our opinion, management changes add risk for investors as the investment process can and often will be altered to reflect the new mangers preferences for assuming risk. However, in this case, we think the departure of Gross will cause some investors to move money elsewhere, whether to Janus or to other fixed income funds with strong long-term records under current management of the fund. We would caution those looking to move Janus that unless more of Gross’ team at PIMCO similarly departs, his resources will be different,” said S&P Capital IQ.
In addition to BOND and MINT, PIMCO issues 19 other ETFs, though last month the firm said it will shutter four existing funds and plans to launch three new ETFs.
For the week ended Sept. 19, PIMCO was the largest issuer of actively managed ETFs with almost $8 billion in assets, according to AdvisorShares data.
Other well-known PIMCO ETFs include the $239.7 million PIMCO Investment Grade Corporate Bond Index ETF (NYSEArca: CORP) and the $4 billion PIMCO 0-5 Year High Yield Corporate Bond (NYSEArca: HYS). Gross was not the manager of either of those ETFs.
PIMCO Total Return ETF
