PIMCO is seeking to launch a new exchange-traded fund (ETF), Benzinga reports. The PIMCO Foreign Currency Strategy ETF will put 80% of its assets in currencies or bonds denominated in currencies other than the U.S. dollar.

It will be investing in investment grade and non-investment grade securities. The ETF will hold a mix of short-term fixed income instruments, money market securities and currency forwards backed by high-quality, low duration securities.

Click here for the story from Benzinga.