PIMCO Canada Launches ETF Series of PIMCO Canadian Core Bond Fund
TORONTO, ONTARIO (August 19, 2024) – PIMCO Canada Corp. (“PIMCO Canada”) has launched the exchange-traded fund (ETF) series units (the “ETF Series Units”) of the PIMCO Canadian Core Bond Fund (the “Fund”), a strategy that seeks total return, consistent with preservation of capital and prudent investment management, by investing primarily in a diversified portfolio of Canadian dollar fixed income of varying maturities. The ETF Series Units are expected to commence trading on the Toronto Stock Exchange (TSX) under the ticker symbol CORE when the market opens this morning.
An initial tranche of 50,000 ETF Series Units of the Fund has been issued at $20 per Unit, and the Fund has closed its initial offering of the ETF Series Units. The Fund also offers traditional Mutual Fund Series.
“Higher interest rates globally have made bonds historically attractive and adding an ETF Series to PIMCO’s Canadian Core Bond Fund gives investors more choice in how they can access PIMCO’s time-tested investment strategy,” said Greg Tsagogeorgas, PIMCO Executive Vice President and Co-Head of PIMCO Canada. “Moreover, PIMCO believes the generational reset to higher bond yields in recent years makes fixed income compelling not just today, but also in the years to come.”
The same PIMCO Portfolio Manager team, which includes Vinayak Seshasayee, Executive Vice President and Marc Seidner, Managing Director and Chief Investment Officer Non-traditional Strategies, has managed the PIMCO Canadian Core Bond Fund, formerly known as PIMCO Canadian Total Return Bond Fund, for more than four years.
For further information on PIMCO Canada and the PIMCO funds, please visit www.pimco.ca or call us at 1 866 341 3350 (416 368 3350 in Toronto).
About PIMCO
PIMCO is one of the world’s premier fixed income investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, the firm continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today PIMCO has offices across the globe and 2,500+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz SE, a leading global diversified financial services provider.
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Disclosures
A word about risk: All investments contain risk and may lose value. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. High yield, lower-rated securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. Equities may decline in value due to both real and perceived general market, economic and industry conditions. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Diversification does not ensure against loss.
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