PIMCO has appointed JP Morgan to offer five of its US-registered ETFs on the international segment of the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV).
The five new PIMCO ETFs are listed on the BMV in pesos are the PIMCO 1-5 Year U.S. TIPS Index Fund (STPZ), PIMCO Broad US TIPS Index Fund (TIPZ), PIMCO 15+ Year US TIPS Index Fund (LTPZ), PIMCO 1-3 Year US Treasury Index Fund (TUZ) and PIMCO Investment Grade Corporate Bond Index Fund (CORP).
JP Morgan’s Depositary Receipts (DR) business 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 JP Morgan representative is available in Mexico City to provide local expertise and guidance to investors.
Alec Kersman, Head of PIMCO’s Latin America and The Caribbean business, said: “We are confident that there will be increased investor appetite for PIMCO’s ETFs in the Mexican market and look forward to benefiting from JP Morgan’s expertise and experience in the ETF space.”
Joseph Dooley, DR Executive for the Americas at JP Morgan, said: “There is a demand by both providers and investors for peso-denominated ETFs that provide both US and global exposure.”
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till