PIMCO has launched an actively managed exchange-traded fund, the Enhanced Short Maturity Strategy Fund, to help cash investors earn better yields than the near zero percent money market funds now offer. Jerome Schneider, deputy head of PIMCO’s money market desk, will manage the fund.

Employing strict risk controls to preserve capital and offering ready liquidity and transparency of holdings, the fund will invest in high-quality short-term investments, like money market funds do, but also expand its horizons by investing in longer maturity bonds and investment-grade fixed income.

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