In a filing with the SEC Thursday, Pacific Investment Management Co. announced its new PIMCO Total Return Exchange-Traded Fund will charge 55 basis points, or 0.55%.
PIMCO announced April 20 that it was seeking permission to roll out a similar version of its popular Total Return Retail mutual fund in an exchange-traded fund wrapper.
In related news, PIMCO head Mohamed El-Erian (left) on Thursday put “low odds on a third round of U.S. monetary stimulus unless there is a ‘major further deterioration’ in the U.S. economic outlook,” according to a live blogging question and answer session on Reuters.com
“We would assign a low probability (at) this stage to QE3 given the general recognition that the forward-looking cost-benefit analysis has shifted away from the potential benefits and toward greater costs and risk,” El-Erian wrote, according to Reuters. “Therefore, it would take a major further deterioration in the economic outlook, combined with willingness by the Fed to take greater reputational and political risks.”