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Pimco to start 19 active ETFs as Gross diversifies firm

Company to more than triple its line-up by offering variations of mutual funds

Pimco will continue to try to be a 'global investment authority' and show the depth of its investment talent by appointing deputy CIOs for different asset classes, says the firm's co-founder Bill Gross (above right). - PHOTO: BLOOMBERG

[NEW YORK] Pacific Investment Management Co (Pimco), the world's biggest bond manager, plans to start 19 actively managed exchange-traded funds (ETFs) as co-founder Bill Gross further diversifies the firm following chief executive officer Mohamed El-Erian's resignation last week.