Pimco announces launch of the Pimco Total Return Exchange-Traded Fund

By Tali David

Minneapolis, March 1 - Pimco has launched the Pimco Total Return Exchange-Traded Fund, the company announced in a press release. The ETF will trade under the symbol "TRXT."

Pimco said the fund is designed to be a diversified portfolio of high quality bonds that is actively managed with the aim of maximizing return and managing risk.

"The Total Return ETF harnesses Pimco's time-tested investment process and our skills as an active manager, and we believe it signals an important new phase in the development of the ETF marketplace," founder and co-chief investment officer William H. Gross said in the release.

Gross will manage the fund.

Pimco is an investment management firm based in Newport Beach, Calif.

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