Empire Fidelity Investments Life Insurance Company is closing the the PIMCO Commodity Real Return Strategy to new investors, effective today, according to a Securities and Exchange filing.
The fund mostly bets on Treasury inflation-protected securities and commodity futures. As of July 5, it has assets totaling $20.08 billion. Year-to-date, the fund returned 0.5% through June 30.
Mihir Worah has been the portfolio manager of the fund since 2008. PIMCO Commodity Real Return Strategy Fund has an expense ratio of 119 basis points.