PIMCO Launches PIMCO Credit Absolute Return Fund

PIMCO announced Wednesday the launch of the PIMCO Credit Absolute Return Fund. The company describes it as a fund “for investors seeking a global, diversified strategy that is focused on absolute return and not constrained by a benchmark.” Mark Kiesel, a managing director in the company’s headquarters in Newport Beach, Calif., will manage the fund.

This is the second major product announcement this year for PIMCO, which said in April it would release an ETF version of its popular PIMCO Total Return fund.

According to the company, the PIMCO Credit Absolute Return Fund “will seek long-term, strategic investments as well as shorter-term tactical opportunities in an effort to provide positive returns in any market environment.”