Pimco founder Bill Gross says the company is already looking to start up more actively managed ETFs.
NEWPORT BEACH, Calif.�(CNNMoney) -- After only a month, Pimco's Total Return ETF is already outperforming its bigger peers, and Pimco founder Bill Gross is just getting started.
Gross, who manages the Total Return ETF (TRXT) as well as the flagship $250 billion mutual fund (PTTRX) that it seeks to mimic, said he's been pleased with the performance of the ETF and that Pimco is already laying the groundwork for "a number of" other actively managed ETFs.
"We're not going to rest on this one," he told CNNMoney, during an interview in Pimco's Newport Beach, Calif., headquarters.
While the investment firm has yet to file with the Securities and Exchange Commission for specific ETFs, Gross said "natural" follow-up products would include funds that invest in different sectors of the bond market, such as corporate debt and mortgage-backed securities, as well as those that offer global diversification.
Pimco Total Return ETF: A game changer?
ETF industry watchers and participants have been hopeful that Pimco's presence will help draw more interest in the actively-managed ETF space, which has struggled to attract sizable assets and trading volumes compared with those that track broad indexes, such as the $100 billion SPDR S&P 500 ETF (SPY)...read more.
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