Newport Beach-based Pacific Investment Management Co. has hired a new executive vice president to oversee emerging markets funds.
Ignacio Sosa arrives from New York-based Voras Capital Management, where he served as managing director and portfolio manager.
Sosa earlier founded and served as managing partner and co-chief investment officer of Boston-based OneWorld Investments.
Pimco also launched its latest entry into the exchange-traded funds.
The new Australia Bond Index Fund is focused on investment-grade Australian debt. It will track the Bank of America Merrill Lynch Diversified Australia Bond Index.
The fund will be managed by Rob Mead, head of Australian portfolio management.
Pimco said it sees opportunity in tapping into the commodities-rich Australian economy. The holdings are in Australian dollars, which Pimco expects will help boost returns.