Pacific Investment Management Co. has shuttered a European money market fund, citing low interest rates, Dow Jones Newswires reports.

The 80 million-euro (US$130 million) Pimco GIS Euro Liquidity Fund closed on Tuesday.

"Given the current economic environment, near-zero interest rates, credit concerns and market volatility, Pimco has decided to close the Pimco GIS Euro Liquidity Fund," a Pimco spokesman told the pub via an emailed comment.

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