PIMCO ETF Hits 5 Years
A press release entitled, "PIMCO's Enhanced Short Maturity Active ETF Reaches Five Year Anniversary," tell us, "PIMCO ... marks the five-year anniversary of its first actively managed exchange-traded fund, the PIMCO Enhanced Short Maturity Active ETF, or MINT. The ETF has returned 1.20 percent on an annualized basis after fees since its inception five years ago. The index, in contrast, returned only 0.07 percent since November 2009. MINT, which has $3.6 billion in total net assets, is managed by Jerome Schneider, Managing Director and head of PIMCO's short-term and funding desk. Schneider also manages the $14 billion PIMCO Short-Term Fund and the PIMCO Low Duration Active ETF, or LDUR." In the release, Schneider comments, "MINT, which was designed as an alternative to money market funds, aims to offer investors more attractive risk adjusted returns by investing in liquid short-duration investment-grade assets that are just beyond the reach of traditional cash-like vehicles." (Watch soon for the "beta" issue of Crane Data's new Bond Fund Intelligence, which will cover the ultra-short bond fund segment.) In other news, ICI released a report entitled, "Characteristics of Mutual Fund Investors, 2014," which says, "Mutual fund–owning households often hold more than one mutual fund. In mid-2014, the median number of mutual funds owned by shareholder households was four. Among these households, 50 percent owned three or fewer funds, and 50 percent owned four or more, with 14 percent reporting they held 11 or more funds. Equity funds were the most commonly owned type of mutual fund, held by 86 percent of mutual fund–owning households. In addition, 33 percent owned balanced funds, 45 percent owned bond funds, and 55 percent owned money market funds. Mutual fund holdings represented a significant portion of these households’ financial assets: 68 percent had more than half of their household financial assets invested in mutual funds."
