PIMCO Canada has made its maiden foray into the Canadian exchange-traded fund space with two new offerings on the TSX: ETF series for the PIMCO Monthly Income Fund (PMIF) and PIMCO Investment Grade Credit Fund (IGCF).
“We want to provide our Canadian investors with additional, convenient access points to two of our most popular bond strategies,” said Stuart Graham, managing director and head of PIMCO Canada.
With PMIF, investors can get access to an active bond portfolio focused primarily on non-Canadian dollar fixed-income instruments of varying maturities. It also seeks diversification by investing in different bond sectors and consistent sources of high dividend income. The fund is managed by Dan Ivascyn, managing director and group chief investment officer; and Alfred Murata, managing director and portfolio manager.
Meanwhile, IGCF provides exposure to an active bond portfolio invested mainly in non-Canadian dollar, high-quality corporate bonds; it can also seek to add value through investments in US government bonds, mortgages, and foreign bonds. Managed by Mark Kiesel, managing director and chief investment officer of global credit, the fund is diversified broadly across issuers, industries, and regions.
According to PIMCO Canada’s website, both series have a management fee of 0.75%.
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