Pimco Launches an Absolute Return Bond Fund
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Tuesday, September 06, 2011

Pimco Launches an Absolute Return Bond Fund

Pimco[see profile] last week unveiled the Credit Absolute Return fund, which will bet on a range of credit sectors, including investment-grade and high-yield corporates, bank loans, convertibles, municipals, and emerging-markets credit, Morningstar reports.

The new offering is PMed by Mark Kiesel, the current PM of the $6 billion PIMCO Investment Grade Corporate Bond since late 2002. It sports a 90 basis points manage fee for the institutional class and 100 basis points for Class P.

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