JP Morgan has been appointed by PIMCO (Pacific Investment Management Company LLC) to offer two of its US-registered Exchange Traded Funds (ETFs) on the international segment of the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV).
The two ETFs are in addition to the existing five PIMCO ETFs previously sponsored by J.P. Morgan on the same exchange.
The new PIMCO ETFs, PIMCO 0-5 Year High Yield Corporate Bond Index Fund (HYS) and PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ), are listed on the BMV in pesos and trades can be initiated through a local broker.
JP Morgan’s Depositary Receipts (DR) Group services the ETFs and handles all corporate actions. JP Morgan disseminates relevant shareholder and corporate actions information in the Mexican market via BMV. Additionally, a dedicated J.P. Morgan representative is available in Mexico City to provide local expertise to investors.
“The ETF vehicle can help broaden investor access to PIMCO,” says Alec Kersman, Head of PIMCO’s Latin America and The Caribbean business. “We look forward to working with JP Morgan to expand the availability of our ETFs to Mexican institutional and qualified investors.”
Joseph Dooley, DR Executive for the Americas at JP Morgan, says: “We are delighted about the opportunity to expand our relationship with PIMCO, as there is an ongoing demand from both providers and investors for peso-denominated ETFs that provide US and global exposure.”