has filed with the SEC
to launch the Newfleet Multi-Sector Income ETF
, a broad income-seeking bond ETF that will compete with Pimco's $1.7-billion Enhanced Short Maturity Strategy ETF
, reports Index Universe
The Bethesda, Maryland-based shop's new ETF will buy a wide variety of debt with an average duration of one to three years, a strategy similar to the popular Pimco fund.
According to the filing, the new fund will rely on Newfleet Asset Management
's research on investing on the bond market's most undervalued segments. Newfleet is an offering of two fixed income asset managers, one based in San Francisco, and one in Hartford, Connecticut, with about $8.8 billion in AUM as of March 31.
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