Pimco Total Return ETF Cuts Canada Bond Holdings
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Pacific Investment Management Co.’s Total Return ETF slashed its holdings of Canadian debt to 2.1 percent from 9.2 percent in the five days ending yesterday, according to data compiled by Bloomberg.
The $3 billion exchange-traded fund, which follows a similar investment strategy as Newport Beach, California-based Pimco’s flagship $222 billion mutual fund, was run by co-founder Bill Gross before his sudden departure on Sept. 26.