NEW YORK, March 8 Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund, a spokesman for the fund manager said on Wednesday.
Once the largest actively managed bond ETF and run by the company's co-founder Bill Gross, the fund now has assets of $2 billion, down from $5.2 billion at its 2013 peak. Managers Scott A. Mather, Mark R. Kiesel, and Mihir P. Worah are being replaced by David Braun, Jerome Schneider and Daniel Hyman, a regulatory filing showed.
(Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama)
BRIEF-Data Communications Management Corp announces private placement of up to $3.9 mln
* Data Communications Management Corp. completes rights offering for $4.6 million and announces private placement of up to $3.9 million for gross proceeds of up to $8.5 million