Wealth manager and exchange-traded fund (ETF) specialist SCM Private and 7IM have invested in Pacific Investment Management Co.’s (Pimco) Sterling Short Maturity Source ETF (Sterling Mint), ETF Express reports. The fund offers extra yield over short-term cash, though it invests in ultra-short-duration securities with a high credit rating.
The fund, through Pimco’s investment process and active management expertise, will study appropriate opportunities in short-dated securities both within the U.K. and globally. Sterling Mint has a current yield to maturity of 1.10 percent and duration of a quarter of a year.
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