PIMCO Offers New Active Bond ETF: MUNI

On 12/1/2009 bond giant PIMCO launched its second actively-managed fixed-income ETF.  PIMCO Intermediate Municipal Bond Strategy Fund (MUNI) focuses on high-quality tax-free bonds issued by state and local governments at the intermediate maturity level. PIMCO appears to be intent on cracking the actively-managed ETF code.  This will be a good business move if they are successful, potentially allowing the firm to command higher fees than other funds that simply track static indexes. MUNI’s closest competitor is Market Vectors…