J.P. Morgan has been appointed by Pacific Investment Management Company LLC (PIMCO) to offer five of its US-registered exchange-traded funds on the international segment of the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV).
The five new PIMCO ETFs are listed on the BMV in pesos, and trades can be initiated through a local broker.
J.P. Morgans depositary receipts business services the ETFs and handles all corporate actions. J.P. Morgan disseminates relevant shareholder and corporate actions information in the Mexican market via Bolsa Mexicana de Valores. Additionally, a dedicated J.P. Morgan representative is available in Mexico City to provide local expertise and guidance to investors.
We are confident that there will be increased investor appetite for PIMCOs ETFs in the Mexican market and look forward to benefiting from J.P. Morgans expertise and experience in the ETF space, Alec Kersman, head of Pacific Investment Management Companys Latin America and the Caribbean business, says.
Joseph Dooley, depositary receipts executive for the Americas at J.P. Morgan, adds: We look forward to servicing PIMCOs ETFs in Mexico. There is a demand by both providers and investors for peso-denominated ETFs that provide both US and global exposure.
(CM)