Gross Fund on Stock Exchange Marks Test for Active ETFs
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Pacific Investment Management Co. opened an exchange-traded version of its Pimco Total Return Fund, betting that star manager Bill Gross can kick-start investor demand for actively run ETFs.
Gross’s Pimco Total Return ETF started trading today under the ticker symbol TRXT, with a net asset value of $100, according to data compiled by Bloomberg. Pimco is aware of the obstacles to winning wide acceptance from investors who have put more than $1 trillion into passive ETFs.