After much anticipation, PIMCO is set to launch its first actively-managed fund. The debut follows PIMCO’s publically announced desire to repair the fixed income ETF market, which is commonly a victim of front-running.

PIMCO’s newest addition, the PIMCO Enhanced Short Maturity Strategy Fund (MINT), will seek to replace low yielding money market funds by providing investors the opportunity to obtain money market style liquidity with higher yields. The fund will invest in a variety of short term debt obligations, as well as traditional money markets, but will also seek to invest in various other short term and high yield fixed income investments.

PIMCO is hoping to grab some of the $10 trillion of investable assets that are sitting on the sideline as investors ponder the future of the capital markets. A PIMCO spokesman in a press release stated “Investors are holding a lot of cash, and are compelled to look for something beyond the near-zero yields that money market funds offer.”