PIMCO Settles With SEC For $20m After Misleading Investors Over ETF

[kreslik.news]

Investment management giant, Pacific Investment Management Company (PIMCO) has just agreed a settlement for misleading investors, resulting in nearly $20 million paid to reconcile charges levied by the US’ Securities and Exchange Commission (SEC), per a regulatory filing.

A previous order found that PIMCO had duped investors about the performance of one its first actively managed exchange-traded funds (ETFs), having also failed to accurately value certain fund securities for clients.

PIMCO had initially succeeded in enticing a strong interest in its Total Return ETF given the fund’s outperformance since early 2012, besting even its flagship mutual fund offerings. However, the initial performance ... (read more)