PIMCO Ranks Fourth In ETF Advisor Loyalty
Wed, Sep 8, 7:11 AM ET, by Shishir Nigam, ActiveETFs | InFocus
PIMCO was ranked fourth amongst ETF providers in advisor loyalty by a report that also had Vanguard coming in on the top of that ranking, followed by iShares and State Street's SPDRs. The report was produced by Cogent Research, a Cambridge-based research firm, in August and was called the 2010 Advisor BrandscapeTM. Vanguard displaced iShares from the top spot which it occupied in 2009, while State Street maintained its 3rd place ranking. However, the surprise entrant was PIMCO, given that it is a relatively new player in the ETF space and had only $1.4 billion in assets at the end of August. PIMCO's actively-managed ETFs held about 41% of those assets in 3 different Active ETFs, the largest one of which was the Enhanced Short Maturity Fund (MINT: 100.76 0.00%), holding $517 million in assets. PIMCO was not in the rankings at all in 2009, which makes its fourth ranking all the more impressive. The report is based on a survey of 1,560 investment advisors from which Cogent Research calculates a standardized loyalty metric called a Net Promoter® Score (NPSSM), based on which the ranking is established. Advisor loyalty is measured on metrics such as market penetration, level of commitment and share of wallet. PIMCO's ranking amongst the ETF providers underscores the power behind its brand name. PIMCO, like Vanguard, has a huge reputation in the fund industry especially because of its prowess in the fixed-income market. And that appears to have carried over into the ETF marketplace as PIMCO's new ETF offerings, both passive and active, gain traction. This is definitely encouraging for other large mutual fund players who in recent months have also filed with SEC to launch various actively-managed ETFs. These include the likes of Legg Mason, Eaton Vance, John C. Hancock and T. Rowe Price - all of whom garner a lot of respect in the mutual fund world, and given PIMCO's successful transition into ETFs, can also count on their strong brands in giving them a head start.
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SDI Glossary: "ETFs" Definition
SDI Glossary: "iShares" Definition
SDI Glossary: "Short" Definition
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