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Products July 30, 2008
PIMCO Reveals Bond ETF Launch Plans
July 30, 2008 (PLANSPONSOR.com) - PIMCO is planning
to offer its first bond exchange-traded fund (ETF), according
to documents filed with the U.S. Securities and Exchange
Commission.
Reported by Fred Schneyer
The bond ETF aims to replicate the Lehman Brothers Aggregate Index.
PIMCO’s foray into ETFs “is a part of a much bigger effort that looks to complement our existing products by offering strategies that we believe are of interest to an even broader set of investors,” Mohamed El-Erian, co-chief executive officer of the world’s largest bond fund company, told Reuters.
PIMCO, which oversees $830 billion in assets, is likely to launch its bond ETF later this year or in early 2009.
El-Erian said PIMCO has been working on the ETF for the last 12 months.