PIMCO integrates its European ETF business
LONDON, (April 27, 2020)-- PIMCO, one of the world’s premier fixed income investment managers, is integrating its European UCITS ETF business with its global ETF platform. As part of the integration, PIMCO and Invesco will cease their European distribution partnership as of June 12, 2020. The firms have collaborated closely since taking this decision in 2019 to devise and implement a seamless transition process that acts in the best interests of investors, and will continue to do so throughout the transition period.
This alignment with PIMCO’s global ETF platform will help drive the strategic expansion of the firm’s $8,5 billion European ETF business (as of March 31, 2020). Globally, PIMCO manages over $29 billion in ETF assets across fixed income and smart beta equity strategies, and is one of the largest providers of actively managed fixed income ETFs worldwide.
Craig Dawson, Managing Director and Head of PIMCO EMEA, said: “Integrating our European UCITS ETF business with our global platform will enable us to continue to offer superior fixed income ETF solutions to clients and prospects throughout EMEA.” Ryan Blute, Managing Director and Head of PIMCO’s Global Wealth Management business in EMEA, added: “Our established ETF range complements our UCITS fund offerings in Europe, giving clients access to PIMCO’s time-tested active fixed income management via whichever investment vehicle best suits their investment needs.”
There will be no changes to portfolio management, investment strategy or fee structure of the respective ETFs. The distribution and servicing of the listed ETFs will revert to PIMCO along with a change of name to reflect PIMCO’s sole in-house distribution model, as of June 12, 2020. PIMCO’s UCITS ETF solutions are available to investors in a number of countries primarily in Europe, Middle East and Africa (EMEA), as well as Latin America (LatAm) and Asia-Pacific (APAC).
