US asset manager PIMCO has said it will liquidate its emerging market currency fund after almost $2bn was withdrawn from investors in the first seven months of 2020.
In an SEC filing last week, PIMCO said it would stop selling shares in its Emerging Market Currency and Short-Term Investments fund to new investors and existing shareholders in November before liquidating the mutual fund in January. PIMCO confirmed the move, telling the Financial Times it "periodically reviews and evaluates its fund offerings to ensure they meet the evolving needs and objectives of our clients". ASI launches UN SDG-aligned Asian equity fund Investors have withdrawn £1.8bn from the fund, according to Morningstar data cited by the FT, seeing the fund shrink in size ...
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