(Bloomberg) -- Bill Gross, co-chief investment officer of Pacific Investment Management Co., said the firm will seek to capture gains in emerging market currencies through a new actively-managed exchange-traded fund.

Economic growth in emerging markets “can be reflected in the currency space, which means you not only can earn a carry, or higher interest rate, but also hopefully the currency will appreciate,” Gross said today at the ETF Virtual Summit, an online conference for financial advisers hosted by ETF Trends, which provides industry research and analysis. Gross said he expects currencies in countries such as Mexico and Brazil to appreciate.

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