The fund employs Pimco’s ‘smart passive’ approach to indexation, and provides investors access to the short-term high-yield US corporate credit market in the ETF vehicle.
According to the Pimco, the fund will offer the same features as other PIMCO ETFs, including daily portfolio disclosure, accessibility, intra-day pricing and a single share class structure for all investors.
The ‘smart passive’ approach incorporates credit analysis, that aims to remove credits that can create undesirable risks in the portfolio, as well as real-time views on market liquidity.
Pimco said the fund will be managed by Vineer Bhansali, a managing director based in Newport Beach, California.
Pimco has offices in 10 countries throughout North America, Europe and Asia. It is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz, a global diversified financial services provider.
