PIMCO is adding a trendy type of fund to its docket – a bank-loan fund – according to a company filing with the Securities and Exchange Commission, Morningstar reports.

What makes bank-loan funds such a hot ticket right now is that they are not as violently affected by interest rate changes as long-term bond funds.

While bond funds have suffered record outflows of late, especially since The Federal Reserve’s recent rate hike, bank-loan funds are more immune to such problems, Morningstar noted. In particular, PIMCO’s fund will be short-term or have variable interest rates.

The portfolio manager and fees for the fund have yet to be disclosed.

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