Fidelity FundsNetwork lists Source PIMCO active ETF

Jan 25th, 2016 | By | Category: Alternatives / Multi-Asset

European exchange traded fund provider Source has announced that Fidelity FundsNetwork (FFN) will list its PIMCO Sterling Short Maturity Source UCITS ETF (QUID LN) on its online investment platform. The fund, which as of 11 January 2016 had over £120m in assets under management, is the first actively managed ETF to be listed by FFN.

The move is a further step in the development of the platform’s ETF services which have been in operation since FFN launched its first range of 50 ETFs in June 2012. The platform currently hosts a wide variety of ETFs providing access to a broad range of regions, sectors and asset classes. FFN charge a 0.25% service fee, dealing costs of 0.10% and ongoing charges from 0.09%.

Pimco Source brings QUID to Fidelity FundsNetwork; first active ETF to list on platform

The PIMCO Sterling Short Maturity Source UCITS ETF (QUID LN) is the first actively-managed ETF to be offered on the Fidelity FundsNetwork platform.

Dominic Clabby, Head of UK IFA at Source, said: “We are delighted that FFN has expanded the range of ETFs now available on its platform and, in particular, including its first actively managed ETF. The PIMCO Sterling Short Maturity Source UCITS ETF, or QUID as it is commonly called, offers investors an alternative to cash, which may be attractive in today’s very low interest rate environment. The fund’s manager invests in a diversified portfolio of short-term securities, with the aim of generating income while maintaining a focus on security and liquidity. The fixed income space has been one of the areas where active management has delivered some good results for investors.”

As of 8 January 2016, the fund was mainly invested in investment grade (58%) and government (34%) issues, primarily in the United Kingdom (54%), Europe (28%) and North America (10%). The mandate of the fund specifies investment in short-term securities; as such the fund is currently composed of securities with a remaining maturity of 0-3 months (51%), 3-6 months (15%), 6-9 months (12%) and 9-12 months (11%). Management fees of 0.35% apply.

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