Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pimco Adds an Active Commodity Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 11, 2023

Pimco Adds an Active Commodity Fund

Reported by Neil Anderson, Managing Editor

The folks at a $1.8-trillion-AUM (as of March 31), 3,445-plus-employee fund firm are rolling out a new active commodity ETF.

Yesterday, Greg Sharenow, managing director and portfolio manager at Allianz's Pimco [profile], unveiled the launch of the Pimco Commodity Strategy Active Exchange-Traded Fund (CMDT on the NYSE Arca). The new fund is a series of the Pimco ETF Trust.

CMDT's inception date was Tuesday, and it comes with an expense ratio of 64 basis points (after taking into 52 bps of promised fee waivers). As of yesterday, the fund had $4.992 million in AUM.

Pacific Investment Management Company LLC (Pimco) serves as CMDT's investment advisor, and Pimco Investments LLC serves as distributor. The new fund's PM team includes two managing directors (Jerome Schneider and Sharenow) and three executive vice presidents (Andrew DeWitt, Lewis Hagedorn, and Andrew Wittkop).

Sharenow puts the launch of CMDT in the context of investors' concerns about "persistent elevated inflation."

"Historically commodities have acted as an effective hedge against inflation, and in today's volatile markets we believe the asset class also is a compelling option for investors looking for a well-diversified portfolio," Sharenow states.

The new fund's other service providers include: Dechert LLP as counsel; PricewaterhouseCoopers LLP as independent accounting firm; Securities Finance Trust Company as securities lending agent; and State Street Bank and Trust Company as custodian and transfer agent. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use