Investment management firm PIMCO and Source, a specialist provider of exchange-traded products, have launched a PIMCO German Government Bond Index Source ETF, listed on Deutsche Börse (XETRA). It aims to track the Markit iBoxx € Germany Index.

“German government bonds are a core investment position in most Europeans’ portfolios, and the BUND ETF provides access to PIMCO’s index replication and trade execution capabilities in government bonds," said Michael Surowiecki, senior vice president at PIMCO and portfolio manager of the new vehicle.

BUND is registered for sale in the UK, Ireland, Austria, France, Finland, Germany, Italy (for institutional investors only), the Netherlands, Norway and Sweden.

The new ETF is the seventh addition to the physically-invested PIMCO Source range of ETFs launched last year.