California-based mutual fund Pacific Investment Management Co. (Pimco) has introduced a Ucits-compliant version of its Credit Absolute Return Fund, FINalternatives reports. Credit Absolute Return Fund is a hedge-fund-like product investing in bonds. Mark Kiesel, a managing director, global head of corporate bond portfolio strategy and manager of the Credit Absolute Return Fund, will be managing its newer version as well.
The firm has added the Dublin-based vehicle to its Global Investor Series (GIS). Pimco’s GIS range now consists of 44 sub-funds with $82 billion under management as on September 30. The company has more than $185 billion of assets managed or serviced from Europe and more than $1.35 trillion worldwide.
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