Pimco ranks as 2022’s biggest loser in $6.5 trillion ETF market

That exodus also ranked as the largest among US issuers in 2022, a year when ETFs absorbed over $580 billion of inflows overall.

Volatility rocked Pimco’s bond-heavy ETF lineup in 2022 as a historically aggressive Federal Reserve attempted to combat the worst US inflation in four decades. While fixed-income ETFs raked in billions overall, the bulk of that cash flooded into passive funds. Given that Pimco’s largest bond ETFs are actively managed, investors were quick to exit, according to Bloomberg Intelligence’s James Seyffart.

“While Pimco has a somewhat diversified fund offering, they’re pretty dominantly an active fixed-income shop and the worst place to be for a fund company in 2022 was running active fixed-income funds,” ETF analyst Seyffart said. “So 2022 was not great for them.” Roughly $194 billion flowed into bond ETFs in 2022 even though more than 90% of those funds posted losses. However, less than $10 billion of that haul went to actively managed funds, Bloomberg Intelligence data show.

While Pimco, Allianz SE’s asset management unit, did have some success stories last year — its long-dated, zero-coupon Treasury fund attracted roughly $600 million — pain at its biggest ETF dwarfed everything else. A record $4.4 billion exited from the $8.8 billion Pimco Enhanced Short Maturity Active ETF , which once reigned as the largest active ETF, despite record demand for short-dated products.

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Investors Brace for More Market Tumult as Interest Rates Keep RisingThe era of ultralow bond yields, mild inflation and accommodative Fed policy has ended, money managers say, likely recalibrating the market’s winners and losers for years to come. FJB ESG policy, monetary policy, and the current administration’s general stance toward corporations is crushing profit margins just as much as high interest rates & inflation. Not a political comment, just an observation. I think we need to retest Covid lows (March 2020). $Spy $QQQ The fed had no choice. The democrats ignored economists’ warnings and passed a completely unnecessary 2 trillion dollar stimulus bill that sent inflation rates skyrocketing. Stimulus is for emergencies. Not for buying votes.
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