Pimco ETF Probe Spotlighting $270 Billion Market Vexing FSB
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The U.S. regulatory probe into Pacific Investment Management Co.’s Total Return ETF is highlighting an industry that supervisors say may pose an increasing risk to the stability of the bond market.
The assets held by bond exchange-traded funds have ballooned to more than $270 billion from about $57 billion at the end of 2008 as hedge funds to retirees sought quick and easy access to debt markets, according to data compiled by the Investment Company Institute.