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FYI: Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund and changing its name, a spokeswoman for the fund management company said on Wednesday, the latest transformation for what was once the largest actively managed ETF. Regards, Ted http://www.fa-mag.com/news/pimco-revamps-etf-gross-once-ran-31730.html?print
With no intent on my part to "diss" the new managers, it seems like the current/departing managers are "officer level" at PIMCO, and the new managers hold "manager level" positions. Again, I am certain the new managers are quite as adept at bond-picking as the current managers, but it seems like officer-level current managers, unable stem the outflow of AUM at BOND have decided to pawn off the management of the ETF to (essentially) their subordinates.
I also note, the departing managers of BOND, also run its OEF equivalent PTTRX -- which is nearly-ubiquitous in company retirement plans. It will be interesting to watch..
It might be embarrassing if the new managers of BOND begin to outperform their bosses who will still be running PTTRX..
Or, is the handover of management of BOND, preliminary to the eventual handover of management duties on PTTRX?
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I also note, the departing managers of BOND, also run its OEF equivalent PTTRX -- which is nearly-ubiquitous in company retirement plans. It will be interesting to watch..
It might be embarrassing if the new managers of BOND begin to outperform their bosses who will still be running PTTRX..
Or, is the handover of management of BOND, preliminary to the eventual handover of management duties on PTTRX?