Source partners Pimco to offer fixed income ETFs in Europe

The Pimco Source Fixed Income ETFs, which combine Pimco's investment management capabilities with Source's ETF structuring and distribution strengths, are due to be launched early 2011. The new range of funds is designed to deliver returns that are not based on traditional market capitalisation weighted indices. Source and Pimco say fixed income is a broad, complex asset class where passive, traditional indexation "may not always be the best solution." Source managing director Michael John Lytle says the content in European fixed income products was not resonating with investors in th...