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PIMCO Short Term Municipal Bond Active Exchange-Traded Fund

1 Day Return
$0.00  |   0.00%

As of 8/16/2018

Market Price
1 Day Return
$0.00  |   --

As of 8/15/2018

Fund Description

The Short Term Municipal Bond Active Exchange-Traded Fund is an actively managed exchange-traded fund (ETF). Designed to be appropriate for investors seeking tax-exempt income, the fund consists of a diversified portfolio of primarily short duration, high credit quality bonds which carry interest income that is exempt from federal tax and in some cases state tax. With this fund, investors will see the names of the bonds owned daily. In the municipal bond market, issuer-specific credit analysis is critical. Unlike index funds that typically rely solely on a rating agency for credit analysis, PIMCO applies extensive research on each municipal bond we own in the fund. We believe it is imperative to analyze each issuer, both at purchase and on an ongoing basis, to avoid municipalities of deteriorating credit quality as we look to protect investors’ capital. Active management not only enables the fund to invest in only the issuers and securities we endorse, but also allows us to change the portfolio structure should credit conditions change. In addition, active management allows for management of capital gains and losses, working to minimize the tax effect of gains, while harvesting losses when available.

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Portfolio Management

Julie P. Callahan

Julie P. Callahan
Ms. Callahan is a senior vice president and municipal bond portfolio manager in the New York office. Prior to joining PIMCO in 2011, she was a portfolio manager for municipal separately managed accounts at Western Asset (WAMCO). She previously managed the firm's municipal money market funds. Before that, Ms. Callahan was director and portfolio manager for municipal money market funds with Citigroup Asset Management. She has 23 years of investment experience and holds a bachelor's degree from Fairfield University.