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PIMCO may issue another ETF fund this year -Allianz exec
FRANKFURT, June 16 |
FRANKFURT, June 16 (Reuters) - Bond fund giant PIMCO may issue another exchange-traded fund after launching its Total Return ETF in March, Allianz management board member Jay Ralph told a German newspaper.
"I would not be surprised if there was at least one more this year," Ralph told weekly Euro am Sonntag. "After all, the Total Return ETF has already gathered $1.3 billion," he added.
The Total Return ETF is expected to help propel the nascent actively managed ETF industry, as the majority of the $1.2 trillion of ETF assets are in index-based ETFs, which are passively managed to follow the performance of their indices.
Ralph said PIMCO currently did not have any plans for a passively managed ETF.
PIMCO, with $1.36 trillion assets under management, is a largely autonomous unit of the German financial services group.
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