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Pimco’s ETF Is Credit Negative for its Rivals, Moody’s Says

March 04, 2012

Pacific Investment Management Co.’s exchange-traded version of its Pimco Total Return Fund (PTTRX) is negative for the company’s rivals, according to Moody’s Investors Service.

Rival managers of active mutual funds will face “disintermediation” from low-fee “ETF substitutes” or have to make “significant” investments to create similar products, Moody’s said in its Weekly Credit Outlook.

To contact the editor responsible for this story: Naoto Hosoda at

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