PIMCO Debuts New Foreign Exchange ETF (FORX)

PIMCO, a leading global investment management firm, will list Feb. 12 the PIMCO Foreign Currency Strategy Exchange Traded Fund (NYSE: FORX), created to offer investors the potential to benefit from fundamental changes in global currency dynamics by diversifying away from the dollar. The fund will be jointly managed by Scott Mather, managing director and head of global portfolio management; Vineer Bhansali, managing director and head of quantitative investment portfolios; and Thomas Kressin, senior vice president and head of European foreign exchange.

Rising debt levels, limited fiscal flexibility and easy monetary policy in the U.S. may weigh on the dollar for years. FORX is a portfolio of currencies and local currency bonds actively managed to help investors diversify out of the dollar and preserve their purchasing power. The active management is a notable difference for an ETF marketplace made up mostly of passive products in which investors generally must form their own views on individual currencies or currency indexes.

The PIMCO Foreign Currency Strategy Exchange Traded Fund will trade under the ticker symbol FORX.

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