Pimco unveils first ETF; files to offer six more such funds

Pacific Investment Management Co. LLC today launched its first exchange traded fund and filed with the Securities and Exchange Commission to offer six more.
“Pimco’s new ETF platform provides investors with broader access to investment management services,” Mohamed El-Erian, Newport Beach, Calif.-based Pimco’s chief executive and co-chief investment officer, said in a statement.
The ETF is the Pimco 1-3 Year U.S. Treasury Index Fund (TUZ), a short-duration-bond portfolio that is designed to track the Merrill Lynch 1-3 Year U.S. Treasury Index.
With maturities ranging from one to three years, price fluctuations may be low relative to longer-dated bonds, yet yields may be generally higher than shorter-term instruments such as Treasury or government money market funds, Pimco said in the statement.
The six additional ETFs for which Pimco filed prospectuses are the Pimco 3-7 Year U.S. Treasury Index Fund, the Pimco 7-15 Year U.S. Treasury Index Fund, the Pimco 15+ Year U.S. Treasury Index Fund, the Pimco Broad U.S. TIPS Index Fund, the Pimco Short Maturity U.S. TIPS Index Fund and the Pimco Long Maturity U.S. TIPS Index Fund.

Related Topics: Pacific Investment Management Company (Pimco)