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PIMCO and Source launch BUND ETF


PIMCO, an investment management firm, and Source, a provider of exchange-traded products, have launched the PIMCO German Government Bond Index Source ETF (BUND) on Deutsche Börse (XETRA).

BUND aims to track the Markit iBoxx EUR Germany Index.
BUND delivers exposure to the German government bond market.

The ETF uses PIMCO’s passive management to minimise tracking differences without the use of securities lending.
Ted Hood, chief executive of Source, says: “When investors look to reduce risk, the structure behind the investment vehicle – how it generates its returns – is as important as the choice of asset class. We are delighted to extend our partnership with PIMCO. The new BUND ETF combines the efficiency and liquidity of our ETF structure with PIMCO’s world-renowned expertise in managing bond portfolios.”
Michael Surowiecki, senior vice president at PIMCO and portfolio manager of BUND, says:  “The BUND market is over EUR1.1trn in outstanding issuance. German government bonds are a core investment position in most Europeans’ portfolios, and the BUND ETF provides access to PIMCO’s index replication and trade execution capabilities in government bonds."
BUND is registered for sale in the UK, Ireland, Austria, France, Finland, Germany, Italy (for institutional investors only), Netherlands, Norway and Sweden.

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