Pimco unveils actively managed ETF

The Enhanced Short Maturity Strategy fund is designed to protect capital while seeking yields higher than those earned from money market funds. In order to achieve this, the ETF primarily invests in short duration investment grade debt securities, as well as longer maturity bonds and short-term instruments similar to money markets. The fund is managed by Pimco executive vice president and deputy head of the money market desk Jerome Schneider. He says: "Investors are holding a lot of cash, and are compelled to look for something beyond the near-zero yields that money market funds offer...