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ETF Specialist

PIMCO Files for Active Bond ETFs

Bond giant enters the active ETF game with filing for five new funds.

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PIMCO on Wednesday filed with the SEC to launch five new actively managed fixed-income ETFs. The West Coast money management firm plans to launch a trio of short duration funds: PIMCO Enhanced Short Maturity Strategy Fund, PIMCO Government Limited Maturity Strategy Fund, and PIMCO Prime Limited Maturity Strategy. It also filed for a pair of tax-exempt active ETFs: PIMCO Short Term Municipal Bond Strategy and PIMCO Intermediate Municipal Bond Strategy Fund.

Although not a precise comparison, the short-duration class of funds look to be taking on the same investment objectives as  PIMCO Short-Term (PSHDX), a fund managed by Paul McCulley. The filing did not say who will be managing the active short-duration ETFs in the group. It did, however, name John Cummings as the manager of the municipal bond offerings. Cummings heads up PIMCO's Municipal bond group and currently manages  PIMCO Municipal Bond (PFMIX). It is interesting that PIMCO plans to put such a high-profile manager in charge of the new ETF offerings.

Scott Burns does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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