Source actively managed ETF to distribute via Fidelity FundsNetwork
Exchange traded product provider Source has announced that one of its ETFs focused on sterling rates will be distributed via Fidelity FundsNetwork for the UK market.
The Pimco Sterling Short Maturity Source Ucits ETF is a £121m (€161m) vehicle that is actively managed and distributed income monthly.
Dominic Clabby, head of UK IFA at Source, said that the move represented the addition of the first actively managed ETF to the FundsNetwork platform.
“The [product] 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.”