PIMCO to launch fixed income LIT
PIMCO is launching its first listed investment trust (LIT) in Australia, focusing on the fixed income space.
The trust, which would launch in March 2022, would address investors’ need for income in a low-yield world by investing across global fixed income markets.
PIMCO said the listed structure of a trust would allow it to target less accessible debt which was not typically available in unlisted investment structures.
It would be managed by Dan Ivascyn, group chief investment officer, Rob Mead, head of Australia and co-head of Asia Pacific portfolio management and Alfred Murata, managing director and portfolio manager.
Ivascyn said: “We see opportunities for income generation across global markets, but careful security selection and a flexible investment approach are key. PIMCO’s experience in managing listed investment structures and our deep presence in both public and private credit markets are advantages in sourcing unique investment opportunities”.
While the firm had been managing listed funds for over 25 years, this was the first one to be launched in Australia.
AUTHOR
Laura Dew
Recommended for you
Evidentia Group has announced the appointment of a chief risk and operating officer, rounding out its executive leadership team after a slew of hires last month.
Family office Lederer Group has progressed its takeover bid for the Elanor Commercial Property Fund, lodging a bidder’s statement with ASIC as it says the fund has been “unable to agree” on negotiation terms.
Magellan Financial Group is keen to enact further strategic expansions with income from strategic partnerships tripling to $31.1 million from the addition of Vinva during FY25.
Outflows have doubled in the property and infrastructure space to $1.3 billion with advisers instead favouring private markets as Morningstar data finds active property funds are struggling to outperform.
