PIMCO Corporate & Income Opportunity Fund and PIMCO Corporate & Income Strategy Fund Announce Change to Non-Fundamental Inves...
December 14 2018 - 4:49PM
PIMCO Corporate & Income Opportunity Fund (NYSE: PTY) and PIMCO
Corporate & Income Strategy Fund (NYSE: PCN) (each a “Fund”
and, together, the “Funds”) announced that, effective on or about
February 12, 2019, each Fund will amend its non-fundamental
investment policy to, under normal market conditions, invest at
least 80% of its total assets in a combination of corporate debt
obligations of varying maturities, other corporate income-producing
securities, and income-producing securities of non-corporate
issuers, such as U.S. Government securities, municipal securities
and mortgage-backed and other asset-backed securities issued on a
public or private basis (the “Current Policy”) to read as follows:
Under normal market conditions, the Fund seeks to achieve its
investment objective by investing at least 80% of its net assets
plus borrowings for investment purposes in a combination of
corporate debt obligations of varying maturities, other corporate
income-producing securities, and income-producing securities of
non-corporate issuers, such as U.S. Government securities,
municipal securities and mortgage-backed and other asset-backed
securities issued on a public or private basis (the “Amended
Policy”). |
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The Amended Policy will be effective on or about
February 12, 2019 following 60 days’ notice to Fund shareholders
and may only be changed thereafter by the Board of Trustees of each
Fund following the provision of at least 60 days’ written notice to
the Fund’s shareholders pursuant to Rule 35d-1 under the Investment
Company Act of 1940, as amended (“Rule 35d-1”).
Pacific Investment Management Company LLC
(“PIMCO”), each Fund’s investment manager, recommended the
changes to the Current Policy to the Fund’s Board of Trustees as
being in the best interests of each Fund and its shareholders, as
PIMCO believes that the Amended Policy is better aligned with the
requirements of Rule 35d-1. PIMCO does not expect that the Amended
Policy will result in any significant change to how each Fund is
managed in practice.
The Funds’ daily New York Stock Exchange closing
market prices, net asset values per share, as well as other
information, including updated portfolio statistics and performance
are available at pimco.com/closedendfunds or by calling the Funds’
shareholder servicing agent at (844) 33-PIMCO. Updated portfolio
holdings information about a Fund will be available approximately
15 calendar days after such Fund’s most recent fiscal quarter end,
and will remain accessible until such Fund files a Form N-Q, Form
N-PORT or a shareholder report for the period which includes the
date of the information.
About PIMCO
PIMCO is one of the world’s premier fixed income
investment managers. With our launch in 1971 in Newport Beach,
California, PIMCO introduced investors to a total return approach
to fixed income investing. In the 45+ years since, we have
continued to bring innovation and expertise to our partnership with
clients seeking the best investment solutions. Today we have
offices across the globe and 2,150+ professionals united by a
single purpose: creating opportunities for investors in every
environment. PIMCO is owned by Allianz S.E., a leading global
diversified financial services provider.
Except for the historical information and
discussions contained herein, statements contained in this news
release constitute forward-looking statements. These statements may
involve a number of risks, uncertainties and other factors that
could cause actual results to differ materially, including the
performance of financial markets, the investment performance of
PIMCO's sponsored investment products and separately managed
accounts, general economic conditions, future acquisitions,
competitive conditions and government regulations, including
changes in tax laws. Readers should carefully consider such
factors. Further, such forward-looking statements speak only on the
date at which such statements are made. PIMCO undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date of such statement.
This material has been distributed for
informational purposes only and should not be considered as
investment advice or a recommendation of any particular security,
strategy or investment product. No part of this material may be
reproduced in any form, or referred to in any other publication,
without express written permission. PIMCO is a trademark of Allianz
Asset Management of America L.P. in the United States and
throughout the world. ©2018, PIMCO
For information on PIMCO Closed-End
Funds:Financial Advisors: (800) 628-1237 Shareholders: (844)
337-4626 or (844) 33-PIMCOPIMCO Media Relations: (212) 597-1054
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