Exchanging places?

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Pimco, the US-based global investment management firm, made a filing on September 3 to the US Securities and Exchange Commission (SEC) for an active bond exchange-traded fund (ETF). Pimco's shift into ETF territory marks a departure from its typical fund offering and has contributed to the recent watershed of US fund managers taking up the ETF baton. "Pimco's move is a very serious development, and will lead the way for other mutual fund managers to enter the ETF space," says Isabelle Bourcier,

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