Brown Brothers Harriman (BBH)been selected by PIMCO to provide custody, accounting, administration, and transfer agency services to support the launch of a series of PIMCO Source Fixed Income ETFs, including the first actively managed Fixed Income ETF for Europe.
The initial two PIMCO Source Fixed Income ETFs, PIMCO Euro EUR Enhanced Short Maturity Source ETF and PIMCO European Advantage Government Bond Index Source ETF, are Irish domiciled UCITS which were recently listed on the Xetra trading platform of the Deutsche Börse Exchange. The new products are the result of a close collaboration between PIMCO and Source, a specialist provider of exchange traded products, to create and distribute a new range of fixed income ETFs for European investors.
“PIMCO is a leading provider of investment solutions. The support of these new PIMCO Fixed Income Source ETFs is an extension of a long standing and valued relationship between BBH and PIMCO and we are delighted to be servicing their ETF offerings in the European ETF marketplace,” says Seán Páircéir (pictured), Partner at BBH.
“BBH worked closely with both organisations to develop a unique servicing model to support the launch of these Fixed Income ETFs, which represent the first of their kind in Europe. We are excited about partnering with PIMCO and Source as leading ETF sponsors in developing products which will provide significant value to the investment community ,” says Shawn McNinch, Global Head of ETF Services at BBH.
BBH has an established expertise in domestic and international equity, fixed income, leveraged/inverse, currency, commodity, and active ETFs. The Firm is one of the largest ETF custodians in the US1, working with 11 ETF issuers globally, including three out of the top five US ETF sponsors, representing over 80 exchange traded vehicles. BBH’s dedicated ETF team provides consultative services and assists in managing new product launches for both registered and non-registered exchange traded funds and products.