Pimco-Source ETF weighs emerging market wealth

ETFsPimco and Source are launching an exchange-traded fund (ETF) that will invest in emerging market bonds based on an index that weighs each country's GDP and capacity to repay its debts. The firms say the index gives a higher-than-average weighting to India and China, which should attract investors hoping to profit from rapid growth in these economies. The Pimco Emerging Markets Advantage Local Bond Index Source ETF is the fifth ETF that US-based investment manager Pimco has launched with Source, an ETF specialist. All five funds are domiciled in Ireland. Source CEO Ted Hood said: “An emerging market benchmark without exposure to India or China is no longer a credible proposition. Through our partnership with Pimco, we can deliver a product that marks a significant improvement on existing benchmarks for EM local debt.” ©2011 funds europe

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