PIMCO has launched the PIMCO Tax Managed Real Return Fund, an actively managed fund that aims to provide tax-efficient income and a hedge against inflation. John Cummings, executive vice president and head of the firm’s municipal bond desk, and Gang Hu, senior vice president and inflation-hedging specialist, are managing the fund.

The fund will invest in high-quality, intermediate-maturity municipal bonds and other types of fixed income while looking to hedge against the deterioration in purchasing power that can be caused by inflation.

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