POLICYHOLDER NOTICE
Thank you for purchasing insurance from a member company of
American International Group, Inc. (AIG). The AIG member companies
generally pay compensation to brokers and independent agents, and
may have paid compensation in connection with your policy. You can
review and obtain information about the nature and range of
compensation paid by AIG member companies to brokers and
independent agents in the United States by visiting our website at
www.aig.com/producercompensation or by calling 1-800-706-3102.
91222 (4/13)
INVESTMENT COMPANY BLANKET BOND
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
(A stock Insurance Company, herein Called the
Underwriter)
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| DECLARATIONS |
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BOND NUMBER |
| Item 1. Name
of Insured |
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PIMCO Funds |
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24157067 |
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| Principal
Address: |
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650 Newport Center Drive |
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Newport Beach, CA 92660 |
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(Herein
called the Insured) |
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Item 2. Bond
Period from 12:01 a.m on 07/01/2022 to 12:01 a.m. on
07/01/2023. |
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The effective date of the termination or cancellation of this bond,
standard time at the Principal Address as to each of the said
dates.
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Item 3. Limit of Liability
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Subject to
Section 9, 10, and 12 hereof: |
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Limit of Liability |
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Deductible Amount |
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Insuring Agreement A –
FIDELITY |
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$15,000,000 |
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$250,000 |
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Insuring Agreement B – AUDIT
EXPENSE |
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$50,000 |
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$5,000 |
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Insuring Agreement C – ON
PREMISES |
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$15,000,000 |
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$250,000 |
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Insuring Agreement D – IN
TRANSIT |
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$15,000,000 |
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$250,000 |
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Insuring Agreement E – FORGERY OR
ALTERATION |
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$15,000,000 |
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$250,000 |
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Insuring Agreement F –
SECURITIES |
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$15,000,000 |
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$250,000 |
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Insuring Agreement G –
COUNTERFEIT CURRENCY |
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$15,000,000 |
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$250,000 |
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Insuring Agreement H – STOP
PAYMENT |
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$50,000 |
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$5,000 |
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Insuring Agreement I –
UNCOLLECTIBLE ITEMS OF DEPOSIT |
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$50,000 |
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$5,000 |
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OPTIONAL COVERAGES ADDED BY RIDER:
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Insuring Agreement J – COMPUTER
SYSTEMS |
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$15,000,000 |
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$250,000 |
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Insuring Agreement K –
UNAUTHORIZED SIGNATURES |
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$50,000 |
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$5,000 |
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Insuring Agreement L – AUTOMATED
PHONE SYSTEMS |
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$15,000,000 |
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$250,000 |
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Insuring Agreement M –
TELEFACSIMILE |
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$15,000,000 |
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$250,000 |
If “Not Covered” is inserted above opposite any specified Insuring
Agreement or Coverage, such Insuring Agreement or Coverage and any
other reference thereto in this bond shall be deemed to be deleted
there from.
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| Item 4. |
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Office or Premises Covered – Offices acquired or established
subsequent to the effective date of this bond are covered according
to the terms of General Agreement A. All other Insured’s offices or
premises in existence at the time this bond becomes effective are
covered under this bond except the offices or premises located as
follows:
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No Exceptions
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| Item 5. |
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The Liability of the Underwriter is subject to the terms of the
following riders attached hereto:
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103012 (10/09), 103003 (10/09), 89644 (7/05), 103004 (10/09),
103014 (10/09), 103005 (10/09),
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91222 (12/09), 41206 (9/84), 115903 (10/13), 113022 (10/12), Rider
#1 (SR-5538), Riders
#2-7
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| Item 6. |
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The Insured by the acceptance of this bond gives notice to the
Underwriter terminating or cancelling prior bond(s) or policy(ies)
No.(s) N/A such termination or cancellation to be effective as of
the time this bond becomes effective.
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| Item 7. |
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Premium Amount: $35,951 |
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FHFC – Florida Hurricane
Fund: |
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Total Premium:
$35,951 |
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| Issue Date: |
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07/01/2022 |
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By: |
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Authorized Representative |
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This endorsement, effective at 12:01 a.m. 07/01/2022 forms a part of
Policy Number: 24157067
Issued to: PIMCO Funds
By: National Union Fire Ins of
Pittsburgh
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT
CAREFULLY
COVERAGE TERRITORY ENDORSEMENT
Payment of loss under this policy shall only be made in full
compliance with all United States of America economic or trade
sanctions laws of regulations, including, but not limited to,
sanctions, laws and regulations administered and enforced by the
U.S. Treasury Department’s Office of Foreign Assets Control
(OFAC)
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
© American
International Group, Inc. All rights reserved.
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By: |
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Authorized Representative |
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89644 (7/05)
NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH,
PA
RIDER No. 1
To be attached to and form part of Bond No 24157067.
in favor of PIMCO Funds
effective as of 07/01/2022.
In consideration of the premium charged for the attached bond, it
is hereby agreed that:
1. From and after the time this rider becomes effective the Insured
under the attached bond are:
PIMCO Equity Series
PIMCO Dividend and Income Fund
PIMCO RAE Emerging Markets Fund
PIMCO RAE Global ex-US
Fund
PIMCO RAE Global Fund
PIMCO RAE International Fund
PIMCO RAE US Fund
PIMCO RAE US Small Fund
PIMCO REALPATH® Blend 2025 Fund
PIMCO REALPATH® Blend 2030 Fund
PIMCO REALPATH® Blend 2035 Fund
PIMCO REALPATH® Blend 2040 Fund
PIMCO REALPATH® Blend 2045 Fund
PIMCO REALPATH® Blend 2050 Fund
PIMCO REALPATH® Blend 2055 Fund
PIMCO REALPATH® Blend 2060 Fund
PIMCO REALPATH® Blend Income Fund
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
PIMCO RAFI Dynamic Multi-Factor International Equity ETF
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
PIMCO RAFI ESG U.S. ETF
PIMCO Equity Series VIT
PIMCO StocksPLUS® Global Portfolio
PIMCO ETF Trust
PIMCO 0-5 Year High Yield
Corporate Bond Index Exchange-Traded Fund
PIMCO 1-5 Year U.S. TIPS
Index Exchange-Traded Fund
PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund
PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded
Fund
PIMCO Active Bond Exchange-Traded Fund
PIMCO Broad U.S. TIPS Index Exchange-Traded Fund
PIMCO Enhanced Low Duration Active Exchange-Traded Fund
PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
PIMCO Investment Grade Corporate Bond Index Exchange-Traded
Fund
PIMCO Municipal Income Opportunities Active Exchange-Traded
Fund
PIMCO Short Term Municipal Bond Active Exchange-Traded Fund
SR5538
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PIMCO Funds
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| PIMCO All Asset All Authority Fund |
| PIMCO All Asset Fund |
| PIMCO California Intermediate Municipal Bond
Fund |
| PIMCO California Municipal Intermediate Value
Fund |
| PIMCO California Municipal Opportunistic Value
Fund |
| PIMCO California Municipal Bond Fund |
| PIMCO California Short Duration Municipal Income
Fund |
| PIMCO Climate Bond Fund |
| PIMCO CommoditiesPLUS® Strategy Fund |
| PIMCO CommodityRealReturn Strategy Fund® |
| PIMCO Credit Opportunities Bond Fund |
| PIMCO Diversified Income Fund |
| PIMCO Dynamic Bond Fund |
| PIMCO Emerging Markets Bond Fund |
| PIMCO Emerging Markets Corporate Bond Fund |
| PIMCO Emerging Markets Currency and Short-Term
Investments Fund |
| PIMCO Emerging Markets Full Spectrum Bond
Fund |
| PIMCO Emerging Markets Local Currency and Bond
Fund |
| PIMCO ESG Income Fund |
| PIMCO Extended Duration Fund |
| PIMCO Global Advantage® Strategy Bond Fund |
| PIMCO Global Bond Opportunities Fund (U.S.
Dollar-Hedged) |
| PIMCO Global Bond Opportunities Fund
(Unhedged) |
| PIMCO Global Core Asset Allocation Fund |
| PIMCO GNMA and Government Securities Fund |
| PIMCO Government Money Market Fund |
| PIMCO High Yield Fund |
| PIMCO High Yield Municipal Bond Fund |
| PIMCO High Yield Spectrum Fund |
| PIMCO Income Fund |
| PIMCO Inflation Response Multi-Asset Fund |
| PIMCO International Bond Fund (U.S.
Dollar-Hedged) |
| PIMCO International Bond Fund (Unhedged) |
| PIMCO Investment Grade Credit Bond Fund |
| PIMCO Long Duration Total Return Fund |
| PIMCO Long-Term Credit Bond Fund |
| PIMCO Long-Term Real Return Fund |
| PIMCO Long-Term U.S. Government Fund |
| PIMCO Low Duration Credit Fund (FKA PIMCO Senior
Floating Rate Fund) |
| PIMCO Low Duration ESG Fund |
| PIMCO Low Duration Fund |
| PIMCO Low Duration Fund II |
| PIMCO Low Duration Income Fund |
| PIMCO Moderate Duration Fund |
| PIMCO Mortgage Opportunities and Bond Fund |
| PIMCO Mortgage-Backed Securities Fund |
| PIMCO Municipal Bond Fund |
| PIMCO National Intermediate Municipal Bond
Fund |
| PIMCO National Municipal Intermediate Value
Fund |
| PIMCO National Municipal Opportunistic Value
Fund |
| PIMCO New York Municipal Bond Fund |
| PIMCO Preferred and Capital Securities Fund |
| PIMCO RAE Fundamental Advantage PLUS Fund |
| PIMCO RAE PLUS EMG Fund |
| PIMCO RAE PLUS Fund |
| PIMCO RAE PLUS International Fund |
| PIMCO RAE PLUS Small Fund |
| PIMCO RAE Worldwide Long/Short PLUS Fund |
| PIMCO Real Return Fund |
SR5538
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| PIMCO RealEstateRealReturn Strategy Fund |
| PIMCO Short Asset Investment Fund |
| PIMCO Short Duration Municipal Income Fund |
| PIMCO Short-Term Fund |
| PIMCO StocksPLUS® Absolute Return
Fund |
| PIMCO StocksPLUS® Fund |
| PIMCO StocksPLUS® International Fund
(U.S. Dollar-Hedged) |
| PIMCO StocksPLUS® International Fund
(Unhedged) |
| PIMCO StocksPLUS® Long Duration Fund |
| PIMCO StocksPLUS® Short Fund |
| PIMCO StocksPLUS® Small Fund |
| PIMCO Strategic Bond Fund |
| PIMCO Total Return ESG Fund |
| PIMCO Total Return Fund |
| PIMCO Total Return Fund II |
| PIMCO Total Return Fund IV |
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PIMCO TRENDS Managed Futures Strategy Fund
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| PAPS (PIMCO Funds: Private Account Portfolio
Series is |
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not a separate Trust but a part of PIMCO Funds)
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| PIMCO ABS and Short-Term Investments
Portfolio |
| PIMCO All Asset: Multi-Short PLUS Fund |
| PIMCO All Asset: Multi-RAE PLUS Fund |
| PIMCO All Asset: Multi-Real Fund |
| PIMCO EM Bond and Short-Term Investments
Portfolio |
| PIMCO High Yield and Short-Term Investments
Portfolio |
| PIMCO International Portfolio |
| PIMCO Investment Grade Credit Bond Portfolio |
| PIMCO Long Duration Credit Bond Portfolio |
| PIMCO Low Duration Portfolio |
| PIMCO Moderate Duration Portfolio |
| PIMCO Mortgage and Short-Term Investments
Portfolio |
| PIMCO Municipal Portfolio |
| PIMCO Real Return Portfolio |
| PIMCO Short Asset Portfolio |
| PIMCO Short-Term Floating NAV Portfolio II |
| PIMCO Short-Term Floating NAV Portfolio III |
| PIMCO Short-Term Portfolio |
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PIMCO U.S. Government and Short-Term Investments Portfolio
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PVIT (PIMCO Variable Insurance Trust)
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| PIMCO All Asset Portfolio |
| PIMCO Balanced Allocation Portfolio |
| PIMCO CommodityRealReturn® Strategy Portfolio |
| PIMCO Dynamic Bond Portfolio |
| PIMCO Emerging Markets Bond Portfolio |
| PIMCO Global Bond Opportunities Portfolio
(Unhedged) |
SR5538
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PVIT (PIMCO Variable Insurance Trust) - continued
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| PIMCO Global Core Bond (Hedged) Portfolio |
| PIMCO Global Diversified Allocation Portfolio |
| PIMCO Global Managed Asset Allocation
Portfolio |
| PIMCO High Yield Portfolio |
| PIMCO Income Portfolio |
| PIMCO International Bond Portfolio (U.S.
Dollar-Hedged) |
| PIMCO International Bond Portfolio (Unhedged) |
| PIMCO Long-Term U.S. Government Portfolio |
| PIMCO Low Duration Portfolio |
| PIMCO Real Return Portfolio |
| PIMCO Short-Term Portfolio |
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PIMCO Total Return Portfolio
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Closed-End Funds
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| PCM Fund, Inc. |
| PIMCO Access Income Fund |
| PIMCO California Municipal Income Fund |
| PIMCO California Municipal Income Fund II |
| PIMCO California Municipal Income Fund III |
| PIMCO Corporate & Income Opportunity Fund |
| PIMCO Corporate & Income Strategy Fund |
| PIMCO Dynamic Income Fund |
| PIMCO Dynamic Income Opportunities Fund |
| PIMCO Energy and Tactical Credit Opportunities
Fund |
| PIMCO Global StocksPLUS® & Income Fund |
| PIMCO High Income Fund |
| PIMCO Income Strategy Fund |
| PIMCO Income Strategy Fund II |
| PIMCO Municipal Income Fund |
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| PIMCO Municipal Income Fund II |
| PIMCO Municipal Income Fund III |
| PIMCO New York Municipal Income Fund |
| PIMCO New York Municipal Income Fund II |
| PIMCO New York Municipal Income Fund III |
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PIMCO Strategic Income Fund, Inc.
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Interval Funds
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| PIMCO Flexible Credit Income Fund |
| PIMCO Flexible Emerging Markets Income Fund |
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PIMCO Flexible Municipal Income Fund
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PIMCO Managed Accounts Trust
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| Fixed Income SHares: Series C |
| Fixed Income SHares: Series LD |
| Fixed Income SHares: Series M |
| Fixed Income SHares: Series R |
| Fixed Income SHares: Series TE |
SR5538
“And all now existing or hereinafter created funds”
2. The first named Insured shall act for itself and for each and
all of the Insured for all the purposes of the attached bond.
3. Knowledge possessed or discovery made by the Corporate Risk
Management Department, Internal Audit Department, or General
Counsel Department, of any Insured or by any partner or officer
thereof shall for all the purposes of the attached bond constitute
knowledge or discovery by all the Insured.
4. If, prior to the termination of the attached bond in its
entirety, the attached bond is terminated as to any Insured, there
shall be no liability for any loss sustained by such Insured unless
discovered before the time such termination as to such Insured
becomes effective.
5. The liability of the Underwriter for loss or losses sustained by
any or all of the Insured shall not exceed the amount for which
6. If the first named Insured ceases for any reason to be covered
under the attached bond, then the Insured next named shall
thereafter be considered as the first named Insured for all the
purposes of the attached bond.
7. The attached bond shall be subject to all its agreements,
limitations and conditions except as herein expressly modified.
8. This rider shall become effective as 12:01 a.m. on
07/01/2022.
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By: |
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Authorized Representative |
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SR5538
INVESTMENT COMPANY BLANKET BOND
The Underwriter, in consideration of an agreed
premium, and subject to the Declarations made a part hereof, the
General Agreements, Conditions and Limitations and other terms of
this bond, agrees with the Insured, in accordance with the Insuring
Agreements hereof to which an amount of insurance is applicable as
set forth in Item 3 of the Declarations and with respect to loss
sustained by the Insured at any time but discovered during the Bond
Period, to indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
Loss resulting from any dishonest or fraudulent
act(s), including Larceny or Embezzlement committed by an Employee,
committed anywhere and whether committed alone or in collusion with
others, including loss of Property resulting from such acts of an
Employee, which Property is held by the Insured for any purpose or
in any capacity and whether so held gratuitously or not and whether
or not the Insured is liable therefor.
Dishonest or fraudulent act(s) as used in this
Insuring Agreement shall mean only dishonest or fraudulent act(s)
committed by such Employee with the manifest intent:
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to cause the Insured to sustain such loss; and
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to obtain financial benefit for the Employee, or
for any other person or organization intended by the Employee to
receive such benefit, other than salaries, commissions, fees,
bonuses, promotions, awards, profit sharing, pensions or other
employee benefits earned in the normal course of employment.
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Expense incurred by the Insured for that part of
the costs of audits or examinations required by any governmental
regulatory authority to be conducted either by such authority or by
an independent accountant by reason of the discovery of loss
sustained by the Insured through any dishonest or fraudulent
act(s), including Larceny or Embezzlement of any of the Employees.
The total liability of the Underwriter for such expense by reason
of such acts of any Employee or in which such Employee is
concerned or implicated or with respect to any one
audit or examination is limited to the amount stated opposite Audit
Expense in Item 3 of the Declarations; it being understood,
however, that such expense shall be deemed to be a loss sustained
by the Insured through any dishonest or fraudulent act(s),
including Larceny or Embezzlement of one or more of the Employees
and the liability under this paragraph shall be in addition to the
Limit of liability stated in Insuring Agreement (A) in Item 3
of the Declarations.
Loss of Property (occurring with or without
negligence or violence) through robbery, burglary, Larceny, theft,
holdup, or other fraudulent means, misplacement, mysterious
unexplainable disappearance, damage thereto or destruction thereof,
abstraction or removal from the possession, custody or control of
the Insured, and loss of subscription, conversion, redemption or
deposit privileges through the misplacement or loss of Property,
while the Property is (or is supposed or believed by the Insured to
be) lodged or deposited within any offices or premises located
anywhere, except in an office listed in Item 4 of the Declarations
or amendment thereof or in the mail or with a carrier for hire
other than an armored motor vehicle company, for the purpose of
transportation.
Offices and Equipment
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(1) |
Loss of or damage to, furnishings, fixtures,
stationery, supplies or equipment, within any of the Insured’s
offices covered under this bond caused by Larceny or theft in, or
by burglary, robbery or holdup of such office, or attempt thereat,
or by vandalism or malicious mischief; or
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loss through damage to any such office by Larceny
or theft in, or by burglary, robbery or holdup of such office or
attempt thereat, or to the interior of any such office by vandalism
or malicious mischief provided, in any event, that the Insured is
the owner of such offices, furnishings, fixtures, stationery,
supplies or equipment or is legally liable for such loss or damage,
always excepting, however, all loss or damage through fire.
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Loss of Property (occurring with or without
negligence or violence) through robbery, Larceny, theft, holdup,
misplacement, mysterious unexplainable disappearance, being lost or
otherwise made away with, damage thereto or destruction thereof,
and loss of subscription, conversion, redemption or deposit
privileges through the misplacement or loss of Property, while the
Property is in transit anywhere in the custody of any person or
persons acting as messenger, except while in the mail or with a
carrier for hire, other than an armored motor vehicle company, for
the purpose of transportation, such transit to begin immediately
upon receipt of such Property by the transporting person or
persons, and to end immediately upon delivery thereof at
destination.
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FORGERY OR ALTERATION
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Loss through FORGERY or ALTERATION of, on or in any
bills of exchange, checks, drafts, acceptances, certificates of
deposit. promissory notes, or other written promises, orders or
directions to pay sums certain in money, due bills, money orders,
warrants, orders upon public treasuries, letters of credit, written
instructions, advices or applications directed to the Insured,
authorizing or acknowledging the transfer, payment, delivery or
receipt of funds or Property, which instructions or advices or
applications purport to have been signed or endorsed by any
customer of the Insured, shareholder or subscriber to shares,
whether certificated or uncertificated, of any Investment Company
or by any financial a banking institution or stockbroker but which
instructions, advices or applications either bear the forged
signature or endorsement or have been altered without the knowledge
and consent of such customer,
shareholder or subscriber to shares, whether
certificated or uncertificated, of an Investment Company, financial
or banking institution or stockbroker, withdrawal orders or
receipts for the withdrawal of funds or Property, or receipts or
certificates of deposit for Property and bearing the name of the
Insured as issuer, or of another Investment Company for which the
Insured acts as agent, excluding, however, any loss covered under
Insuring Agreement (F) hereof whether or not coverage for
Insuring Agreement (F) is provided for in the Declarations of
this bond.
Any check or draft (a) made payable to a
fictitious payee and endorsed in the name of such fictitious payee
or (b) procured in a transaction with the maker or drawer
thereof or with one acting as an agent of such maker or drawer or
anyone impersonating another and made or drawn payable to the one
so impersonated and endorsed by anyone other than the one
impersonated, shall be deemed to be forged as to such
endorsement.
Mechanically reproduced facsimile signatures are
treated the same as handwritten signatures.
Loss sustained by the Insured, including loss
sustained by reason of a violation of the constitution,
by-laws, rules or
regulations of any Self Regulatory Organization of which the
Insured is a member or which would have been imposed upon the
Insured by the constitution, by-laws, rules or regulations of any
Self Regulatory Organization if the Insured had been a member
thereof,
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(1) |
through the Insured’s having, in good faith and in
the course of business, whether for its own account or for the
account of others, in any representative, fiduciary, agency or any
other capacity, either gratuitously or otherwise, purchased or
otherwise acquired, accepted or received, or sold or delivered, or
given any value, extended any credit or assumed any liability, on
the faith of, or otherwise acted upon, any securities, documents or
other written instruments which prove to have been
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forged as to the signature of any maker, drawer,
issuer, endorser, assignor, lessee, transfer agent or registrar,
acceptor, surety or guarantor or as to the signature of any person
signing in any other capacity, or
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(c) |
raised or otherwise altered, or lost, or stolen,
or
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(2) |
through the Insured’s having, in good faith and in
the course of business, guaranteed in writing or witnessed any
signatures whether for valuable consideration or not and whether or
not such guaranteeing or witnessing is ultra vires the Insured,
upon any transfers, assignments, bills of sale, powers of attorney,
guarantees, endorsements or other obligations upon or in connection
with any securities, documents or other written instruments and
which pass or purport to pass title to such securities, documents
or other written instruments; EXCLUDING, losses caused by FORGERY
or ALTERATION of, on or in those instruments covered under Insuring
Agreement (E) hereof.
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Securities, documents or other written instruments
shall be deemed to mean original (including original counterparts)
negotiable or non-negotiable agreements which in and
of themselves represent an equitable interest, ownership, or debt,
including an assignment thereof which instruments are in the
ordinary course of business, transferable by delivery of such
agreements with any necessary endorsement or assignment.
The word “counterfeited” as used in this Insuring
Agreement shall be deemed to mean any security, document or other
written instrument which is intended to deceive and to be taken for
an original.
Mechanically produced facsimile signatures are
treated the same as handwritten signatures.
Loss through the receipt by the Insured, in good
faith, of any counterfeited money orders or altered paper
currencies or coin of the United States of America or Canada issued
or purporting to have been issued by the United States of America
or Canada or issued pursuant to a United States of America or
Canadian statute for use as currency.
Loss against any and all sums which the Insured
shall become obligated to pay by reason of the Liability imposed
upon the Insured by law for damages:
For having either complied with or failed to comply
with any written notice of any customer, shareholder or subscriber
of the Insured or any Authorized Representative of such customer,
shareholder or subscriber to stop payment of any check or draft
made or drawn by such customer, shareholder or subscriber or any
Authorized Representative of such customer, shareholder or
subscriber, or
For having refused to pay any check or draft made
or drawn by any customer, shareholder or subscriber of the Insured
or any Authorized Representative of such customer, shareholder or
subscriber.
| (I) |
UNCOLLECTIBLE ITEMS OF DEPOSIT
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Loss resulting from payments of dividends or fund
shares, or withdrawals permitted from any customer’s, shareholder’s
or subscriber’s account based upon Uncollectible Items of Deposit
of a customer, shareholder or subscriber credited by the Insured or
the Insured’s agent to such customer’s, shareholder’s or
subscriber’s Mutual Fund Account; or
loss resulting from any Item of Deposit processed
through an Automated Clearing House which is reversed by the
customer, shareholder or subscriber and deemed uncollectible by the
Insured.
Loss includes dividends and interest accrued not to
exceed 15% of the Uncollectible Items which are deposited.
This Insuring Agreement applies to all Mutual Funds
with “exchange privileges” if all Fund(s) in the exchange program
are insured by a National Union
Fire Insurance Company of Pittsburgh, PA for
Uncollectible Items of Deposit. Regardless of the number of
transactions between Fund(s), the minimum number of days of deposit
within the Fund(s) before withdrawal as declared in the Fund(s)
prospectus shall begin from the date a deposit was first credited
to any Insured Fund(s).
GENERAL AGREEMENTS
| A. |
ADDITIONAL OFFICES OR EMPLOYEES-CONSOLIDATION OR
MERGER-NOTICE
|
| |
1. |
If the Insured shall, while this bond is in force,
establish any additional office or offices, such office or offices
shall be automatically covered hereunder from the dates of their
establishment, respectively. No notice to the Underwriter of an
increase during any premium period in the number of offices or in
the number of Employees at any of the offices covered hereunder
need be given and no additional premium need be paid for the
remainder of such premium period.
|
| |
2. |
If an Investment Company, named as Insured herein,
shall, while this bond is in force, merge or consolidate with, or
purchase the assets of another institution, coverage for such
acquisition shall apply automatically from the date of acquisition.
The Insured shall notify the Underwriter of such acquisition within
60 days of said date, and an additional premium shall be computed
only if such acquisition involves additional offices or
employees.
|
No statement made by or on behalf of the Insured,
whether contained in the application or otherwise, shall be deemed
to be a warranty of anything except that it is true to the best of
the knowledge and belief of the person making the statement.
| C. |
COURT COSTS AND ATTORNEYS’ FEES
|
(Applicable to all Insuring Agreements or Coverages
now or hereafter forming part of this bond)
The Underwriter will indemnify the Insured against
court costs and reasonable attorneys’ fees incurred and paid by the
Insured in defense, whether or not successful, whether or not fully
litigated on the merits and whether or not settled of any suit or
legal proceeding brought against the Insured to enforce the
Insured’s liability or alleged liability on account of any loss,
claim or damage which, if established against the Insured, would
constitute a loss sustained by the Insured covered under the terms
of this bond provided, however, that with respect to Insuring
Agreement (A) this indemnity shall apply only in the event
that
| |
(1) |
an Employee admits to being guilty of any dishonest
or fraudulent act(s), including Larceny or Embezzlement; or
|
| |
(2) |
an Employee is adjudicated to be guilty of any
dishonest or fraudulent act(s), including Larceny or
Embezzlement;
|
| |
(3) |
in the absence of (1) or (2) above an
arbitration panel agrees, after a review of an agreed statement of
facts, that an Employee would be found guilty of dishonesty if such
Employee were prosecuted.
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The Insured shall promptly give notice to the
Underwriter of any such suit or legal proceeding and at the request
of the Underwriter shall furnish it with copies of all pleadings
and other papers therein. At the Underwriter’s election the Insured
shall permit the Underwriter to conduct the defense of such suit or
legal proceeding, in the Insured’s name, through attorneys of the
Underwriter’s selection. In such event, the Insured shall give all
reasonable information and assistance which the Underwriter shall
deem necessary to the proper defense of such suit or legal
proceeding.
If the amount of the Insured’s liability or
alleged
liability is greater than the amount recoverable
under this bond, or if a Deductible Amount is applicable, or both,
the liability of the Underwriter under this General Agreement is
limited to the proportion of court costs and attorneys’ fees
incurred and paid by the Insured or by the Underwriter that the
amount recoverable under this bond bears to the total of such
amount plus the amount which is not so recoverable. Such indemnity
shall be in addition to the Limit of Liability for the applicable
Insuring Agreement or Coverage.
Acts of an Employee, as defined in this bond, are
covered under Insuring Agreement (A) only while the Employee
is in the Insured’s employ. Should loss involving a former Employee
of the Insured be discovered subsequent to the termination of
employment, coverage would still apply under Insuring Agreement
(A) if the direct proximate cause of the loss occurred while
the former Employee performed duties within the scope of his/her
employment.
THE FOREGOING INSURING AGREEMENTS AND
GENERAL AGREEMENTS ARE SUBJECT TO
THE FOLLOWING CONDITIONS
AND LIMITATIONS:
SECTION 1. DEFINITIONS
The following terms, as used in this bond, shall
have the respective meanings stated in this Section:
| |
(1) |
any of the Insured’s officers, partners, or
employees, and
|
| |
(2) |
any of the officers or employees of any predecessor
of the Insured whose principal assets are acquired by the Insured
by consolidation or merger with, or purchase of assets or capital
stock of such predecessor. and
|
| |
(3) |
attorneys retained by the Insured to perform legal
services for the Insured and the employees of such attorneys while
such attorneys or the employees of such attorneys are performing
such services for the Insured, and
|
| |
(4) |
guest students pursuing their studies or duties in
any of the Insured’s offices, and
|
| |
(5) |
directors or trustees of the Insured, the
investment advisor, underwriter (distributor), transfer agent, or
shareholder accounting record keeper, or administrator authorized
by written agreement to keep financial and/or other required
records, but only while
|
| |
performing acts coming within the scope of the usual duties of an
officer or employee or while acting as a member of any committee
duly elected or appointed to examine or audit or have custody of or
access to the Property of the Insured, and
|
| |
(6) |
any individual or individuals assigned to perform
the usual duties of an employee within the premises of the Insured,
by contract, or by any agency furnishing temporary personnel on a
contingent or part-time basis, and
|
| |
(7) |
each natural person, partnership or corporation
authorized by written agreement with the Insured to perform
services as electronic data processor of checks or other accounting
records of the Insured, but excluding any such processor who acts
as transfer agent or in any other agency capacity in issuing
checks, drafts or securities for the Insured, unless included under
Sub-section (9) hereof, and
|
| |
(8) |
those persons so designated in Section 15,
Central Handling of Securities, and
|
| |
(9) |
any officer, partner or Employee of
|
| |
a) |
an investment advisor,
|
| |
b) |
an underwriter (distributor),
|
| |
c) |
a transfer agent or shareholder accounting
record-keeper, or
|
| |
d) |
an administrator authorized by written agreement to
keep financial and/or other required records,
|
for an Investment Company named as Insured while
performing acts coming within the scope of the usual duties of an
officer or Employee of any Investment Company named as Insured
herein, or while acting as a member of any committee duly elected
or appointed to examine or audit or have custody of or access to
the Property of any such Investment Company, provided that only
Employees or partners of a transfer agent, shareholder accounting
record-keeper or administrator which is an affiliated person as
defined in the Investment Company Act of 1940, of an Investment
Company named as Insured or is an affiliated person of the adviser,
underwriter or administrator of such Investment Company, and which
is not a bank, shall be included within the definition of
Employee.
Each employer of temporary personnel or processors
as set forth in Sub-Sections (6) and of Section 1(a) and
their partners, officers and employees shall collectively be deemed
to be one person for all the purposes of this bond, excepting,
however, the last paragraph of Section 13.
Brokers, or other agents under contract or
representatives of the same general character shall not be
considered Employees.
| |
(b) |
“Property” means money (i.e.. currency, coin, bank
notes, Federal Reserve notes), postage and revenue stamps, U.S.
Savings Stamps, bullion, precious metals of all kinds and in any
form and articles made therefrom, jewelry, watches, necklaces,
bracelets, gems, precious and semi-precious stones, bonds,
securities, evidences of
|
| |
debts, debentures, scrip, certificates, interim receipts, warrants,
rights, puts, calls, straddles, spreads, transfers, coupons,
drafts, bills of exchange, acceptances, notes, checks, withdrawal
orders, money orders, warehouse receipts, bills of lading,
conditional sales contracts, abstracts of title, insurance
policies, deeds, mortgages under real estate and/or chattels and
upon interests therein, and assignments of such policies, mortgages
and instruments, and other valuable papers, including books of
account and other records used by the Insured in the conduct of its
business, and all other instruments similar to or in the nature of
the foregoing including Electronic Representations of such
instruments enumerated above (but excluding all data processing
records) in which the Insured has an interest or in which the
Insured acquired or should have acquired an interest by reason of a
predecessor’s declared financial condition at the time of the
Insured’s consolidation or merger with, or purchase of the
principal assets of, such predecessor or which are held by the
Insured for any purpose or in any capacity and whether so held by
the Insured for any purpose or in any capacity and whether so held
gratuitously or not and whether or not the Insured is liable
therefor.
|
| |
(c) |
“Forgery” means the signing of the name of another
with intent to deceive; it does not include the signing of one’s
own name with or without authority, in any capacity, for any
purpose.
|
| |
(d) |
“Larceny and Embezzlement” as it applies to any
named Insured means those acts as set forth in Section 37 of
the Investment Company Act of 1940.
|
| |
(e) |
“Items of Deposit” means any one or more checks and
drafts. Items of Deposit shall not be deemed uncollectible until
the Insured’s collection procedures have failed.
|
SECTION 2. EXCLUSIONS
THIS BOND DOES NOT COVER:
| |
(a) |
loss effected directly or indirectly by means of
forgery or alteration of, on or in any instrument, except when
covered by Insuring Agreement (A), (E), (F) or (G).
|
| |
(b) |
loss due to riot or civil commotion outside the
United States of America and Canada; or loss due to military, naval
or usurped power, war or insurrection unless such loss occurs in
transit in the circumstances recited in Insuring Agreement (D), and
unless, when such transit was initiated, there was no knowledge of
such riot, civil commotion, military, naval or usurped power, war
or insurrection on the part of any person acting for the Insured in
initiating such transit.
|
| |
(c) |
loss, in time of peace or war, directly or
indirectly caused by or resulting from the effects of nuclear
fission or fusion or radioactivity; provided, however, that this
paragraph shall not apply to loss resulting from industrial uses of
nuclear energy.
|
| |
(d) |
loss resulting from any wrongful act or acts of any
person who is a member of the Board of Directors of the Insured or
a member of any equivalent body by whatsoever name known unless
such person is also an Employee or an elected official, partial
owner or partner of the Insured in some other capacity, nor, in any
event, loss resulting from the act or acts of any person while
acting in the capacity of a member of such Board or equivalent
body.
|
| |
(e) |
loss resulting from the complete or partial
non-payment of, or default
upon, any loan or transaction in the nature of, or amounting to, a
loan made by or obtained from the Insured or any of its partners,
directors or Employees, whether authorized or unauthorized and
whether procured in good faith or through trick, artifice, fraud or
false pretenses. unless such loss is covered under Insuring
Agreement (A), (E) or (F).
|
| |
(f) |
loss resulting from any violation by the Insured or
by any Employee
|
| |
(1) |
of law regulating (a) the issuance, purchase or
sale of securities, (b)
|
| |
securities transactions upon Security Exchanges or over the counter
market, (c) Investment Companies, or (d) Investment
Advisors, or
|
| |
(2) |
of any rule or regulation made pursuant to any such
law, unless such loss, in the absence of such laws, rules or
regulations, would be covered under Insuring Agreements (A) or
(E).
|
| |
(g) |
loss of Property or loss of privileges through the
misplacement or loss of Property as set forth in Insuring Agreement
(C) or (D) while the Property is in the custody of any armored
motor vehicle company, unless such loss shall be in excess of the
amount recovered or received by the Insured under (a) the
Insured’s contract with said armored motor vehicle company,
(b) insurance carried by said armored motor vehicle company
for the benefit of users of its service, and (c) all other
insurance and indemnity in force in whatsoever form carried by or
for the benefit of users of said armored motor vehicle company’s
service, and then this bond shall cover only such excess.
|
| |
(h) |
potential income, including but not limited to
interest and dividends, not realized by the Insured because of a
loss covered under this bond, except as included under Insuring
Agreement (I).
|
| |
(i) |
all damages of any type for which the Insured is
legally liable, except direct compensatory damages arising from a
loss covered under this bond.
|
| |
(j) |
loss through the surrender of Property away from an
office of the Insured as a result of a threat
|
| |
(1) |
to do bodily harm to any person, except loss of
Property in transit in the custody of any person acting as
messenger provided that when such transit was initiated there was
no knowledge by the Insured of any such threat, or
|
| |
(2) |
to do damage to the premises or Property of the
Insured, except when
|
| |
covered under Insuring Agreement (A).
|
| |
(k) |
all costs, fees and other expenses incurred by the
Insured in establishing the existence of or amount of loss covered
under this bond unless such indemnity is provided for under
Insuring Agreement (B).
|
| |
(l) |
loss resulting from payments made or withdrawals
from the account of a customer of the Insured, shareholder or
subscriber to shares involving funds erroneously credited to such
account, unless such payments are made to or withdrawn by such
depositor or representative of such person, who is within the
premises of the drawee bank of the Insured or within the office of
the Insured at the time of such payment or withdrawal or unless
such payment is covered under Insuring Agreement (A).
|
| |
(m) |
any loss resulting from Uncollectible Items of
Deposit which are drawn from a financial institution outside the
fifty states of the United States of America, District of Columbia,
and territories and possessions of the United States of America,
and Canada.
|
SECTION 3. ASSIGNMENT OF RIGHTS
This bond does not afford coverage in favor of any
Employers of temporary personnel or of processors as set forth in
sub-sections (6) and
(7) of Section 1(a) of this bond, as aforesaid, and upon
payment to the Insured by the Underwriter on account of any loss
through dishonest or fraudulent act(s) including Larceny or
Embezzlement committed by any of the partners, officers or
employees of such Employers, whether acting alone or in collusion
with others, an assignment of such of the Insured’s rights and
causes of action as it may have against such Employers by reason of
such acts so committed shall, to the extent of such payment, be
given by the Insured to the Underwriter, and the Insured shall
execute all papers necessary to secure to the Underwriter the
rights herein provided for.
SECTION 4. LOSS -NOTICE -PROOF-
LEGAL PROCEEDINGS
This bond is for the use and benefit only of the
Insured named in the Declarations and the Underwriter shall not be
liable hereunder for loss sustained by anyone other than the
Insured unless the Insured, in its sole discretion and at its
option, shall include such loss in the Insured’s proof of loss. At
the earliest practicable moment after discovery of any loss
hereunder the Insured shall give the Underwriter written notice
thereof and shall also within six months after such discovery
furnish to the Underwriter affirmative proof of loss with full
particulars. If claim is made under this bond for loss of
securities or shares, the Underwriter shall not be liable unless
each of such securities or shares is identified in such proof of
loss by a certificate or bond number or, where such securities or
shares are uncertificated, by such identification means as agreed
to by the Underwriter. The Underwriter shall have thirty days after
notice and proof of loss within which to investigate the claim, but
where the loss is clear and undisputed, settlement shall be made
within forty-eight hours; and this shall apply notwithstanding the
loss is made up wholly or in part of securities of which duplicates
may be obtained. Legal proceedings for recovery of any loss
hereunder shall not be brought prior to the expiration of sixty
days after such proof of loss is filed with the Underwriter nor
after the expiration of twenty-four months from the discovery of
such loss, except that any action or proceeding to recover
hereunder on account of any judgment against the Insured in any
suit mentioned in General Agreement C or to recover attorneys’ fees
paid in any such suit, shall be begun within twenty-four months
from the date upon which the judgment in such suit shall become
final. If any limitation embodied in this bond is prohibited by any
law controlling the construction hereof, such limitation shall be
deemed to be amended so as to be equal to the minimum period of
limitation permitted by such law.
Discovery occurs when the Insured
| |
(a) |
becomes aware of facts, or
|
| |
(b) |
receives written notice of an actual or potential
claim by a third party which alleges that the Insured is liable
under circumstance
|
which would cause a reasonable person to assume
that a loss covered by the bond has been or will be
incurred even though the exact amount or details of
loss may not be then known.
SECTION 5. VALUATION OF PROPERTY
The value of any Property, except books of accounts
or other records used by the Insured in the conduct of its
business, for the loss of which a claim shall be made hereunder,
shall be determined by the average market value of such Property on
the business day next preceding the discovery of such loss;
provided, however, that the value of any Property replaced by the
Insured prior to the payment of claim therefor shall be the actual
market value at the time of replacement; and further provided that
in case of a loss or misplacement of interim certificates,
warrants, rights, or other securities, the production which is
necessary to the exercise of subscription, conversion, redemption
or deposit privileges, the value thereof shall be the market value
of such privileges immediately preceding the expiration thereof if
said loss or misplacement is not discovered until after their
expiration. If no market price is quoted for such Property or for
such privileges, the value shall be fixed by agreement between the
parties or by arbitration.
In case of any loss or damage to Property
consisting of books of accounts or other records used by the
Insured in the conduct of its business, the Underwriter shall be
liable under this bond only if such books or records are actually
reproduced and then for not more than the cost of blank books,
blank pages or other materials plus the cost of labor for the
actual transcription or copying of data which shall have been
furnished by the Insured in order to reproduce such books and other
records.
SECTION 6. VALUATION OF PREMISES AND
FURNISHINGS
In case of damage to any office of the Insured, or
loss of or damage to the furnishings, fixtures, stationery,
supplies, equipment, safes or vaults therein, the Underwriter shall
not be liable for more than the actual cash value thereof, or for
more than the actual cost of their replacement or repair. The
Underwriter may, at its election, pay such actual cash value or
make such replacement or repair. If the Underwriter
and the Insured cannot agree upon such cash value
or such cost of replacement or repair, such shall be determined by
arbitration.
SECTION 7. LOST SECURITIES
If the Insured shall sustain a loss of securities
the total value of which is in excess of the limit stated in Item 3
of the Declarations of this bond, the liability of the Underwriter
shall be limited to payment for, or duplication of, securities
having value equal to the limit stated in Item 3 of the
Declarations of this bond.
If the Underwriter shall make payment to the
Insured for any loss of securities, the Insured shall thereupon
assign to the Underwriter all of the Insured’s rights, title and
interests in and to said securities.
With respect to securities the value of which do
not exceed the Deductible Amount (at the time of the discovery of
the loss) and for which the Underwriter may at its sole discretion
and option and at the request of the Insured issue a Lost
Instrument Bond or Bonds to effect replacement thereof, the Insured
will pay the usual premium charged therefor and will indemnify the
Underwriter against all loss or expense that the Underwriter may
sustain because of the issuance of such Lost Instrument Bond or
Bonds.
With respect to securities the value of which
exceeds the Deductible Amount (at the time of discovery of the
loss) and for which the Underwriter may issue or arrange for the
issuance of a Lost Instrument Bond or Bonds to effect replacement
thereof, the Insured agrees that it will pay as premium therefor a
proportion of the usual premium charged therefor, said proportion
being equal to the percentage that the Deductible Amount bears to
the value of the securities upon discovery of the loss, and that it
will indemnify the issuer of said Lost Instrument Bond or Bonds
against all loss and expense that is not recoverable from the
Underwriter under the terms and conditions of this INVESTMENT
COMPANY BLANKET BOND subject to the Limit of Liability
hereunder.
SECTION 8. SALVAGE
In case of recovery, whether made by the Insured or
by the Underwriter, on account of any loss in excess of the Limit
of Liability hereunder plus the Deductible Amount applicable to
such loss from any
source other than suretyship, insurance,
reinsurance, security or indemnity taken by or for the benefit of
the Underwriter, the net amount of such recovery, less the actual
costs and expenses of making same, shall be applied to reimburse
the Insured in full for the excess portion of such loss, and the
remainder, if any, shall be paid first in reimbursement of the
Underwriter and thereafter in reimbursement of the Insured for that
part of such loss within the Deductible Amount. The Insured shall
execute all necessary papers to secure to the Underwriter the
rights provided for herein.
SECTION 9. NON-REDUCTION AND NON-
ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
At all times prior to termination hereof this bond
shall continue in force for the limit stated in the applicable
sections of Item 3 of the Declarations of this bond notwithstanding
any previous loss for which the Underwriter may have paid or be
liable to pay hereunder; PROVIDED, however, that regardless of the
number of years this bond shall continue in force and the number of
premiums which shall be payable or paid, the liability of the
Underwriter under this bond with respect to all loss resulting
from
| |
(a) |
any one act of burglary, robbery or holdup, or
attempt thereat, in which no Partner or Employee is concerned or
implicated shall be deemed to be one loss, or
|
| |
(b) |
any one unintentional or negligent act on the part
of any one person resulting in damage to or destruction or
misplacement of Property, shall be deemed to be one loss, or
|
| |
(c) |
all wrongful acts, other than those specified in
(a) above, of any one person shall be deemed to be one loss,
or
|
| |
(d) |
all wrongful acts, other than those specified in
(a) above, of one or more persons (which dishonest act(s) or
act(s) of Larceny or Embezzlement include, but are not limited to,
the failure of an Employee to report such acts of others) whose
dishonest act or acts intentionally or unintentionally, knowingly
or unknowingly, directly or indirectly, aid or aids in any way, or
permits the continuation of, the dishonest act or acts
|
| |
of any other person or persons shall be deemed to be one loss with
the act or acts of the persons aided, or
|
| |
(e) |
any one casualty or event other than those
specified in (a), (b), (c) or (d) preceding, shall be deemed
to be one loss, and
|
shall be limited to the applicable Limit of
Liability stated in Item 3 of the Declarations of this bond
irrespective of the total amount of such loss or losses and shall
not be cumulative in amounts from year to year or from period to
period.
Sub-section
(c) is not applicable to any situation to which the language
of sub-section
(d) applies.
SECTION 10. LIMIT OF LIABILITY
With respect to any loss set forth in the PROVIDED
clause of Section 9 of this bond which is recoverable or
recovered in whole or in part under any other bonds or policies
issued by the Underwriter to the Insured or to any predecessor in
interest of the Insured and terminated or cancelled or allowed to
expire and in which the period for discovery has not expired at the
time any such loss thereunder is discovered, the total liability of
the Underwriter under this bond and under other bonds or policies
shall not exceed, in the aggregate, the amount carried hereunder on
such loss or the amount available to the Insured under such other
bonds or policies, as limited by the terms and conditions thereof,
for any such loss if the latter amount be the larger.
SECTION 11. OTHER INSURANCE
If the Insured shall hold, as indemnity against any
loss covered hereunder, any valid and enforceable insurance or
suretyship, the Underwriter shall be liable hereunder only for such
amount of such loss which is in excess of the amount of such other
insurance or suretyship, not exceeding, however, the Limit of
Liability of this bond applicable to such loss.
SECTION 12. DEDUCTIBLE
The Underwriter shall not be liable under any of
the Insuring Agreements of this bond on account of loss as
specified, respectively, in sub-sections (a), (b), (c), (d) and
(e) of Section 9, NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND
TOTAL LIABILITY, unless the amount of such loss,
after deducting the net amount of all reimbursement and/or recovery
obtained or made by the Insured, other than from any bond or policy
of insurance issued by an insurance company and covering such loss,
or by the Underwriter on account thereof prior to payment by the
Underwriter of such loss, shall exceed the Deductible Amount set
forth in Item 3 of the Declarations hereof (herein called
Deductible Amount) and then for such excess only, but in no event
for more than the applicable Limit of Liability stated in Item 3 of
the Declarations.
The Insured will bear, in addition to the
Deductible Amount, premiums on Lost Instrument Bonds as set forth
in Section 7.
There shall be no deductible applicable to any loss
under Insuring Agreement A sustained by any Investment Company
named as Insured herein.
SECTION 13. TERMINATION
The Underwriter may terminate this bond as an
entirety by furnishing written notice specifying the termination
date which cannot be prior to 60 days after the receipt of such
written notice by each Investment Company named as Insured and the
Securities and Exchange Commission, Washington, D.C. The Insured
may terminate this bond as an entirety by furnishing written notice
to the Underwriter. When the Insured cancels, the Insured shall
furnish written notice to the Securities and Exchange Commission,
Washington. D.C. prior to 60 days before the effective date of the
termination. The Underwriter shall notify all other Investment
Companies named as Insured of the receipt of such termination
notice and the termination cannot be effective prior to 60 days
after receipt of written notice by all other Investment Companies.
Premiums are earned until the termination date as set forth
herein.
This Bond will terminate as to any one Insured
immediately upon taking over of such Insured by a receiver or other
liquidator or by State or Federal officials, or immediately upon
the filing of a petition under any State or Federal statute
relative to bankruptcy or reorganization of the Insured, or
assignment for the benefit of creditors of the
Insured. or immediately upon such Insured ceasing to exist, whether
through merger into another entity, or by disposition of all of its
assets.
The Underwriter shall refund the unearned premium
computed at short rates in accordance with the standard short rate
cancellation tables if terminated by the Insured or pro rata if
terminated for any other reason.
This Bond shall terminate
| |
(a) |
as to any Employee as soon as any partner, officer
or supervisory Employee of the Insured, who is not in collusion
with such Employee, shall learn of any dishonest or fraudulent
act(s), including Larceny or Embezzlement on the part of such
Employee without prejudice to the loss of any Property then in
transit in the custody of such Employee (See Section 16[d]),
or
|
| |
(b) |
as to any Employee 60 days after receipt by each
Insured and by the Securities and Exchange Commission of a written
notice from the Underwriter of its desire to terminate this bond as
to such Employee, or
|
| |
(c) |
as to any person, who is a partner, officer or
employee of any Electronic Data Processor covered under this bond,
from and after the time that the Insured or any partner or officer
thereof not in collusion with such person shall have knowledge or
information that such person has committed any dishonest or
fraudulent act(s), including Larceny or Embezzlement in the service
of the Insured or otherwise, whether such act be committed before
or after the time this bond is effective.
|
SECTION 14. RIGHTS AFTER TERMINATION OR CANCELLATION
At any time prior to the termination or
cancellation of this bond as an entirety, whether by the Insured or
the Underwriter, the Insured may give to the Underwriter notice
that it desires under this bond an additional period of 12 months
within which to discover loss sustained by the Insured prior to
the
effective date of such termination or cancellation
and shall pay an additional premium therefor.
Upon receipt of such notice from the Insured, the
Underwriter shall give its written consent thereto; provided,
however, that such additional period of time shall terminate
immediately;
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(a) |
on the effective date of any other insurance
obtained by the Insured, its successor in business or any other
party, replacing in whole or in part the insurance afforded by this
bond, whether or not such other insurance provides coverage for
loss sustained prior to its effective date, or
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(b) |
upon takeover of the Insured’s business by any
State or Federal official or agency, or by any receiver or
liquidator, acting or appointed for this purpose
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without the necessity of the Underwriter giving
notice of such termination. In the event that such additional
period of time is terminated, as provided above, the Underwriter
shall refund any unearned premium.
The right to purchase such additional period for
the discovery of loss may not be exercised by any State or Federal
official or agency, or by any receiver or liquidator, acting or
appointed to take over the Insured’s business for the operation or
for the liquidation thereof or for any other purpose.
SECTION 15. CENTRAL HANDLING OF SECURITIES
Securities included in the systems for the central
handling of securities established and maintained by Depository
Trust Company, Midwest Depository Trust Company, Pacific Securities
Depository Trust Company, and Philadelphia Depository Trust
Company, hereinafter called Corporations, to the extent of the
Insured’s interest therein as effective by the making of
appropriate entries on the books and records of such Corporations
shall be deemed to be Property.
The words “Employee” and “Employees” shall be
deemed to include the officers, partners, clerks and other
employees of the New York Stock Exchange, Boston Stock Exchange,
Midwest Stock Exchange, Pacific Stock Ex- change and Philadelphia Stock
Exchange, hereinafter called Exchanges, and of the above named
Corporations, and of any nominee in whose name is registered any
security included within
the systems for the central handling of securities
established and maintained by such Corporations, and any employee
of any recognized service company, while such officers, partners,
clerks and other employees and employees of service companies
perform services for such Corporations in the operation of such
systems. For the purpose of the above definition a recognized
service company shall be any company providing clerks or other
personnel to said Exchanges or Corporation on a contract basis.
The Underwriter shall not be liable on account of
any loss(es) in connection with the central handling of securities
within the systems established and maintained by such Corporations,
unless such loss(es) shall be in excess of the amount(s)
recoverable or recovered under any bond or policy of insurance
indemnifying such Corporations, against such loss(es), and then the
Underwriter shall be liable hereunder only for the Insured’s share
of such excess loss(es), but in no event for more than the Limit of
Liability applicable hereunder.
For the purpose of determining the Insured’s share
of excess loss(es) it shall be deemed that the Insured has an
interest in any certificate representing any security included
within such systems equivalent to the interest the Insured then has
in all certificates representing the same security included within
such systems and that such Corporations shall use their best
judgement in apportioning the amount(s) recoverable or recovered
under any bond or policy of insurance indemnifying such
Corporations against such loss(es) in connection with the central
handling of securities within such systems among all those having
an interest as recorded by appropriate entries in the books and
records of such Corporations in Property involved in such loss(es)
on the basis that each such interest shall share in the amount(s)
so recoverable or recovered in the ratio that the value of each
such interest bears to the total value of all such interests and
that the Insured’s share of such excess loss(es) shall be the
amount of the Insured’s interest in such Property in excess of the
amount(s) so apportioned to the Insured by such Corporations.
This bond does not afford coverage in favor of such
Corporations or Exchanges or any nominee in whose name is
registered any security included within the systems for the central
handling of securities established and maintained by such
Corporations, and upon payment to the Insured by the Underwriter on
account of any loss(es) within the systems, an
assignment of such of the Insured’s rights and
causes of action as it may have against such Corporations or
Exchanges shall to the extent of such payment, be given by the
Insured to the Underwriter, and the Insured shall execute all
papers necessary to secure to the Underwriter the rights provided
for herein.
SECTION 16. ADDITIONAL COMPANIES INCLUDED AS INSURED
If more than one corporation, co-partnership or person or any
combination of them be included as the Insured herein:
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(a) |
the total liability of the Underwriter hereunder
for loss or losses sustained by any one or more or all of them
shall not exceed the limit for which the Underwriter would be
liable hereunder if all such loss were sustained by any one of
them,
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(b) |
the one first named herein shall be deemed
authorized to make, adjust and receive and enforce payment of all
claims hereunder and shall be deemed to be the agent of the others
for such purposes and for the giving or receiving of any notice
required or permitted to be given by the terms hereof, provided
that the Underwriter shall furnish each named Investment Company
with a copy of the bond and with any amendment thereto, together
with a copy of each formal filing of the settlement of each such
claim prior to the execution of such settlement,
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(c) |
the Underwriter shall not be responsible for the
proper application of any payment made hereunder to said first
named Insured,
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(d) |
knowledge possessed or discovery made by any
partner, officer or supervisory Employee of any Insured shall for
the purposes of Section 4 and Section 13 of this bond
constitute knowledge or discovery by all the Insured, and
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(e) |
if the first named Insured ceases for any reason to
be covered under this bond, then the Insured next named shall
thereafter be considered as the first
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named Insured for the purposes of this bond.
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SECTION 17. NOTICE AND CHANGE OF CONTROL
Upon the Insured’s obtaining knowledge of a
transfer of its outstanding voting securities which results in a
change in control (as set forth in Section 2(a) (9) of
the Investment Company Act of 1940) of the Insured, the Insured
shall within thirty (30) days of such knowledge give written
notice to the Underwriter setting forth:
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(a) |
the names of the transferors and transferees (or
the names of the beneficial owners if the voting securities are
requested in another name), and
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(b) |
the total number of voting securities owned by the
transferors and the transferees (or the beneficial owners), both
immediately before and after the transfer, and
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(c) |
the total number of outstanding voting
securities.
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As used in this section, control means the power to
exercise a controlling influence over the management or policies of
the Insured.
Failure to give the required notice shall result in
termination of coverage of this bond, effective upon the date of
stock transfer for any loss in which any transferee is concerned or
implicated.
Such notice is not required to be given in the case
of an Insured which is an Investment Company.
SECTION 18. CHANGE OR MODIFICATION
This bond or any instrument amending or effecting
same may not be changed or modified orally. No changes in or
modification thereof shall be effective unless made by written
endorsement issued to form a part hereof over the signature of the
Underwriter’s Authorized Representative. When a bond covers only
one Investment Company no change or modification which would
adversely affect the rights of the Investment Company shall be
effective prior to 60 days after written notification has been
furnished to the Securities and Exchange Commission, Washington,
D.C. by the Insured or by the
Underwriter. If more than one Investment Company is
named as the Insured herein, the Underwriter shall give written
notice to each Investment Company and to the Securities and
Exchange Commission, Washington, D.C. not less than 60 days prior
to the effective date of any change or modification which would
adversely affect the rights of such Investment Company.
IN WITNESS WHEREOF, the Underwriter has caused this
bond to be executed on the Declarations Page.
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA.
Rider No. 2
| 1. |
It is agreed that Insuring Agreement (A) FIDELITY
is deleted and replaced by the following:
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(A) FIDELITY
Loss resulting from any dishonest or fraudulent act(s), including
Larceny or Embezzlement committed by an Employee, committed
anywhere and whether committed alone or in collusion with others,
including loss of Property resulting from such acts of an Employee,
which Property is held by the Insured for any purpose or in any
capacity and whether so held gratuitously or not and whether or not
the Insured is liable therefor.
Dishonest or fraudulent act(s) as used in this Insuring Agreement
shall mean only dishonest or fraudulent act(s) committed by such
Employee with the intent:
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(a) |
to cause the Insured to sustain such loss, or
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(b) |
to obtain thereby an improper financial benefit for
the Employee, or for any person or entity intended by the Employee
to receive such benefit.
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It is agreed that loss resulting from the intentional transfer of
Property to the benefit of an innocent third party, committed by
the Employee in the knowledge that such third party was not
lawfully entitled to such Property and which Property is not
lawfully recoverable by the Insured, shall be deemed to be a loss
which meets the requirements of this Insuring Agreement. Such loss
must result from acts committed by the Employee with the intent to
cause the Insured to sustain such loss.
Notwithstanding the foregoing however, it is agreed that with
regard to Loans and Trading this bond covers only loss resulting
directly from dishonest or fraudulent acts committed by an Employee
with the intent to make and which result in
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(i) |
an improper financial benefit for the Employee, or
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(ii) |
an improper financial benefit for another person or
entity with whom the Employee committing the dishonest or
fraudulent act was in collusion, provided that the Insured
establishes that the Employee intended to participate in the
financial benefit.
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Salaries, commissions, fees, bonuses, promotions, awards, profit
sharing, pensions or other Employee benefits shall not constitute
an improper financial benefit.
The word “Loan” as used in this Insuring Agreement means all
extensions of credit by the Insured and all transactions creating a
creditor relationship in favor of the Insured and all transactions
by which the Insured assumes an existing creditor relationship.
The word “Trading” as used in this Insuring Agreement means trading
or other dealings in securities, commodities, futures, options,
foreign or Federal Funds, currencies, foreign exchange and the
like.
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2. |
Nothing herein contained shall be held to vary, alter,
waive or extend any of the terms, limitations, conditions or
agreements of the attached bond other than as above stated.
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| AUTHORIZED REPRESENTATIVE |
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA.
RIDER No. 3
To be attached to and form part of Investment Company Blanket Bond
No. 24157067
in favor of PIMCO Funds.
It is agreed that:
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1. |
Insuring Agreement (B), AUDIT EXPENSE, is amended so
that it applies to any of the Insuring Agreements contained in this
Bond or added to this Bond by rider.
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2. |
Nothing herein contained shall be held to vary, alter,
waive or extend any of the terms, limitations, conditions or
agreements of the attached bond other than as above stated.
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AUTHORIZED REPRESENTATIVE |
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NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA.
RIDER No. 4
To be attached to and form part of No. 24157067 in favor of
PIMCO Funds.
It is agreed that:
| 1. |
INSURING AGREEMENT G “Counterfeit Currency” is deleted
in its entirety and the following is substituted therefor:
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Loss resulting directly from the receipt by the Insured, in good
faith, of any counterfeited money orders or altered paper currency
or coin of any country.
| 2. |
Nothing herein contained shall be held to vary, alter,
waive, or extend any of the terms, limitations, conditions, or
agreements of the attached bond other than as above stated.
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| AUTHORIZED REPRESENTATIVE |
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NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA.
RIDER No. 5
This rider, effective 07/01/2022 forms a part of bond number
24157067 issued to PIMCO Funds by AIG.
AMEND LOSS – NOTICE – PROOF – LEGAL
PROCEEDINGS
It is agreed that:
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1. |
Section 4, Loss – Notice – Proof – Legal
Proceedings, is amended by deleting the following:
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“At the earliest practicable moment after discovery of any loss…”
and substituting the words “At the earliest practicable moment, not
to exceed sixty (60) days, after discovery of any loss…”
The following section is also deleted
“Discovery occurs when the Insured
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(a) |
becomes aware of facts, or
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(b) |
receives written notice of an actual or potential
claim by a third party which alleges that the Insured is liable
under circumstance which would cause a reasonable person to assume
that a loss covered by the bond has been or will be incurred even
though the exact amount or details of loss may not be then
known.”
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and replacing the above with the following:
“Discovery occurs when the Insured’s Risk Manager’s or General
Counsel’s office
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(a) |
becomes aware of facts, or
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(b) |
receives written notice of an actual or potential
claim by a third party which alleges that the Insured is liable
under circumstance which would cause a reasonable person to assume
that a loss covered by the bond has been or will be incurred even
though the exact amount or details of loss may not be then
known
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of a loss that exceeds, or is likely to exceed, $100,000.”
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2. |
Nothing herein contained shall be held to vary, alter,
waive or extend any of the terms, limitations, conditions or
agreements of the attached bond other than as above stated.
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| AUTHORIZED REPRESENTATIVE |
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
Rider No. 6
Internet
Rider
To be attached to and form part of Investment Company Blanket Bond
No. 24157067 in favor of PIMCO Funds.
It is agreed that Section 2(d) of Computer Systems Insuring
Agreement (J) is amended to include:
1. Related communications networks or customer communication
including but not limited to the INTERNET, by which Electronic Data
are electronically collected, transmitted, processed, stored, and
retrieved.
2. Nothing herein shall be held to vary, alter, waive or extend any
of the terms, limitations, conditions or provisions of the attached
bond other than as above stated.
3. This rider shall become effective as of 12:01 a.m. on 07/01/2022
standard time as specified in the attached bond.
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Authorized Representative
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NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA.
RIDER No. 7
To be attached to and form part of Investment Company Blanket Bond
No. 24157067
in favor of PIMCO Funds
It is agreed that:
| 1. |
SECTION 1., DEFINITIONS, (a) “Employee,” is hereby
amended to include the following:
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(10) |
registered representatives and retired Employees for a
period of sixty (60) days after their retirement.
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| 2. |
Nothing herein contained shall be held to vary, alter,
waive or extend any of the terms, limitations, conditions or
agreements of the attached bond other than as above stated.
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| AUTHORIZED REPRESENTATIVE |
This endorsement, effective 7/01/2022 at 12:01 AM,
forms a part of
Policy number: 24157067
Issued to: PIMCO Funds
By: National Union Fire Insurance Company of
Pittsburgh, PA
PROTECTED INFORMATION EXCLUSION
(CARVEBACK)
This endorsement modifies insurance provided under
the following:
INVESTMENT COMPANY BLANKET BOND
In consideration of the premium charged, it is
hereby understood and agreed that this policy does not cover loss
resulting directly or indirectly from the: (i) “theft,”
disappearance or destruction of; (ii) unauthorized use or
disclosure of; (iii) unauthorized access to; or
(iv) failure to protect any:
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(1) |
confidential or non-public; or
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(2) |
personal or personally identifiable;
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information that any person or entity has a duty to
protect under any law, rule or regulation, any agreement or any
industry guideline or standard.
This exclusion shall not apply to loss of any
money, securities or tangible property:
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(a) |
owned by the Insured;
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(b) |
held by the Insured in any capacity; or
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(c) |
owned and held by someone else under circumstances
which make the Insured responsible for the Property prior to the
occurrence of the loss;
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that was the subject of a theft, disappearance,
damage or destruction resulting directly from the unauthorized use
or disclosure of such information.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN
UNCHANGED.
© American International Group, Inc. All rights
reserved.
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AUTHORIZED
REPRESENTATIVE
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| 115903
(10/13) |
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Page 1 of 1 |
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This rider, effective 7/01/2022 at 12:01 AM, forms
a part of
Bond number: 24157067
Issued to: PIMCO Funds
By: National Union Fire Insurance Company of
Pittsburgh, PA
INDIRECT OR CONSEQUENTIAL LOSS EXCLUSION
This rider modifies insurance provided under the
following:
INVESTMENT COMPANY BLANKET BOND
It is agreed that:
| 1. |
This bond shall not cover any indirect or any
consequential loss of any nature including, but not limited to
fines, penalties, multiple or punitive damages.
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| 2. |
Nothing contained here shall be held to vary,
alter, waive or extend any of the terms, limitations, conditions,
or agreements of the attached bond other than as above stated.
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© American International Group, Inc. All rights
reserved.
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AUTHORIZED
REPRESENTATIVE
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| 113022 (10/12) |
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Page 1 of 1 |
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NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
INSURING AGREEMENT J Computer Systems
To be attached to and form part of Bond No. 24157067
in favor of PIMCO Funds.
It is agreed that:
| 1. |
The attached bond is amended by adding an
additional insuring agreement as follows:
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COMPUTER SYSTEMS
Loss resulting directly from a fraudulent
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(1) |
Entry of data into, or
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(2) |
Change of data or programs within
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a Computer System; provided the fraudulent entry or change
causes
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(a) |
Property to be transferred paid or delivered,
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(b) |
an account of the Insured, or of its customer, to
be added, deleted, debited or credited:
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(c) |
an unauthorized account of a fictitious account to
be debited or credited;
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(3) |
Voice instructions or advices having been
transmitted to the Insured or its agent(s) by telephone;
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and provided further, the fraudulent entry or change is made or
caused by an individual acting with the intent to:
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(i) |
cause the Insured or its agent(s) to sustain a
loss, and
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(ii) |
obtain financial benefit for that individual or for
other persons intended by that individual to receive financial
benefit,
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(iii) |
and further provided such voice instruction or
advices:
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(a) |
were made by a person who purported to represent an
individual authorized to make such voice instruction or advices;
and
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(b) |
were electronically recorded by the Insured or its
agent(s).
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(4) It shall be a condition to recovery under the
Computer Systems Rider that the Insured or its agent(s) shall to
the best of their ability electronically record all voice
instructions or advices received over telephone. The Insured or its
agent(s) warrant that they shall make their best efforts to
maintain the electronic recording system on a continuous basis.
Nothing, however, in this Rider shall bar the Insured from recovery
where no recording is available because of mechanical failure of
the device used in making such recording, or because of failure of
the media used to record conversation from any cause, or error or
omission of any Employee(s) or agent(s) of the Insured.
SCHEDULE OF SYSTEMS
All computer systems utilized by the Insured.
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As used in this Rider, Computer System means:
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(a) |
computers with related peripheral components,
including storage components, wherever located,
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(b) |
systems and application software,
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(d) |
related communication networks or customer
communication systems, and
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(e) |
related Electronic Funds Transfer Systems,
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by which data are electronically collected, transmitted, processed,
stored, and retrieved.
| 3. |
In addition to the exclusions in the attached bond,
the following exclusions are applicable to this Insuring
Agreement:
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(a) |
loss resulting directly or indirectly from the
theft of confidential information, material or data; and
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(b) |
loss resulting directly or indirectly from entries
or changes made by an individual authorized to have access to a
Computer System who acts in good faith on instructions, unless such
instructions are given to that individual by a software contractor
(or by a partner, officer or employee thereof) authorized by the
Insured to design, develop, prepare, supply service, write or
implement programs for the Insured’s Computer System.
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| 4. |
The following portions of the attached bond are not
applicable to this Rider:
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(a) |
the initial paragraph of the bond preceding the
Insuring Agreements which reads “...at any time but discovered
during the Bond Period.”
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(b) |
Section 9-NON-REDUCTION AND
NON-ACCUMULATION OF
LIABILITY AND TOTAL LIABILITY
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(c) |
Section 10-LIMIT OF LIABILITY
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| 5. |
The Coverage afforded by this rider applies only to
loss discovered by the Insured during the period this Rider is in
force.
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| 6. |
All loss or series of losses involving the
fraudulent activity of one individual, or involving fraudulent
activity in which one individual is implicated, whether or not that
individual is specifically identified, shall be treated as one
loss. A Series of losses involving unidentified individuals but
arising from the same method of operation may be deemed by the
Underwriter to involve the same individual and in that event shall
be treated as one loss.
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| 7. |
The Limit of Liability for the coverage provided by
this Rider shall be ($15,000,000), it being understood however,
that such liability shall be part of and not in addition to the
Limit of Liability stated in Item 3 of the Declarations of the
attached bond.
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| 8. |
The Underwriter shall be liable hereunder for the
amount by which one loss shall be in excess of
$250,000, (herein
called the Deductible amount) but not in excess of the Limit of
Liability stated above.
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| 9. |
If any loss is covered under this Insuring
Agreement and any other Insuring Agreement or Coverage, the maximum
amount payable for such loss
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shall not exceed the largest amount available under
any one Insuring Agreement or Coverage.
| 10. |
Coverage under this Rider shall terminate upon
termination or cancellation of the bond to which this Rider is
attached. Coverage under this rider may also be terminated or
cancelled without cancelling the bond as an entirety:
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(a) |
60 days after receipt by the Insured of written
notice from the Underwriter of its desire to terminate or cancel
coverage under this Rider, or
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(b) |
Immediately upon receipt by the Underwriter of a
written request from the Insured to terminate or cancel coverage
under this Rider.
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The Underwriter shall refund to the Insured the
unearned premium for this coverage under this Rider. The refund
shall be computed at short rates if this Rider is terminated or
cancelled or reduced by notice from, or at the instance of, the
Insured.
| 11. |
Section 4-LOSS-NOTICE-PROOF-LEGAL
PROCEEDING of the Conditions and Limitations of this bond is
amended by adding the following sentence:
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“Proof of Loss resulting from Voice Instructions or
advices covered under this bond shall include Electronic Recording
of such Voice Instructions or advices.”
| 12. |
Not withstanding the foregoing, however, coverage
afforded by this Rider is not designed to provide protection
against loss covered under a separate Electronic and Computer Crime
Policy by whatever title assigned or by whatever Underwriter
written. Any loss which is covered under such separate Policy is
excluded from coverage under this bond; and the Insured agrees to
make claim for such loss under its separate Policy.
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| 13. |
Nothing herein contained shall be held to vary,
alter, waiver or extend any of the terms, limitations, conditions
or agreements of the attached bond other than as above stated.
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| 14. |
This rider shall become effective at 12:01 a.m.
Standard time on 07/01/2022.
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By: |
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Authorized Representative
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NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
INSURING AGREEMENT K
To be attached to and form a part of Investment Company Blanket
Bond No. 24157067
in favor of PIMCO Funds.
It is agreed that:
| (1) |
The attached bond is amended by adding an
additional Insuring Agreement as follows:
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UNAUTHORIZED SIGNATURES
Loss resulting directly from the insured having
accepted, paid or cashed any check or withdrawal order, draft, made
or drawn on a customer’s account which bears the signature or
endorsement of one other than a person whose name and signature is
on the application on file with the Insured as a signatory on such
account.
| (2) |
It shall be a condition precedent to the Insured’s
right of recovery under this rider that the Insured shall have on
file signatures of all persons who are authorized signatories on
such account.
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| (3) |
The Single Loss Limit of Liability for the coverage
provided by this rider shall be $50,000, it being understood,
however, that such liability shall be part of, and not in addition
to, the Aggregate Limit of Liability stated in item 3. of the
Declarations of the attached bond.
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The Underwriter shall not be liable under the
Unauthorized Signatures Rider for any loss on account of any
instrument unless the amount of such instrument shall be excess of
$5,000, (herein called Deductible Amount), and unless such loss on
account of such instrument, after deducting all recoveries on
account of such instrument made prior to the payment of such loss
by the Underwriter, shall be in excess of such Deductible Amount
and then for such excess only, but in no event more than the amount
of the attached bond, or the amount of coverage under the
Unauthorized Signatures Rider, if the amount of such coverage is
less than the amount of the attached bond.
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| (5) |
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, limitations, conditions,
or provisions of the attached bond other than as above stated.
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| (6) |
The rider is effective as of 12:01 a.m. standard
time on 07/01/2022 as specified in the bond.
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Authorized
Representative |
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103004 (10/09)
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
INSURING AGREEMENT L
To be attached to and form part of Bond No. 24157067
Issued to PIMCO Funds.
It is agreed that:
| 1. |
The attached bond is amended by adding an
additional Insuring Agreement as follows:
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AUTOMATED PHONE SYSTEM
| |
I. |
Loss caused by an Automated Phone System
(“APS”)Transaction, where the request for such APS Transaction is
unauthorized or fraudulent and is made with the manifest intent to
deceive; provided, that the entity which receives such request
generally maintains and follows during the bond Period all APS
Designated Procedures with respect to APS Transactions. The
Unintentional isolated failure of such entity to maintain and
follow a particular APS Designated Procedure in a particular
instance shall not preclude coverage under this Insuring Agreement,
subject to the exclusions herein and in the Bond.
|
1. Definitions. The
following terms used in this Insuring Agreement shall have the
following meanings:
a. “APS Transaction”
means any APS Redemption, APS Exchange or APS Election.
b. “APS Redemption”
means any redemption of shares issued by an Investment Company
which is requested over the telephone by means of information
transmitted by an individual caller through use of a telephone
keypad.
c. “APS Election”
means any election concerning dividend options available to Fund
Shareholders which is made over the telephone by means of
information transmitted by an individual caller through use of a
telephone keypad.
d. “APS Exchange”
means any exchange of shares in a registered account of one Fund
into shares in an identically registered account of another Fund in
the same complex pursuant to exchange privileges of the two Funds,
which exchange is requested over the telephone by means of
information transmitted by an individual caller through use of a
telephone keypad.
e. “APS Designated
Procedures” means all of the following procedures:
(1) Election in
Application: No APS Redemption shall be executed unless the
shareholder to whose account such an APS Redemption relates has
previously elected by Official Designation to permit such APS
Redemption.
(2) Logging: All APS
Transaction requests shall be logged or otherwise recorded, so as
to preserve all of the information transmitted by an individual
caller through use of a telephone keypad in the course of such a
request, and the records shall be retained for at least six
months.
(a) Information contained in the records
shall be capable of being retrieved through the following
methods:
audio tape and or transactions stored on computer
disks
(b) Information contained in the records
shall be capable of being retrieved and produced within a
reasonable time after retrieval of specific information is
requested, at a success rate of no less than 85 percent.
(3) Identity
Test: The identity of the caller in any request for an APS
Transaction shall be tested before execution of that APS
Transaction by requiring the entry by the caller of a confidential
personal identification number (“PIN”)
(a) Limited Attempts to Enter PIN: If
the caller fails to enter a correct PIN within three attempts, the
caller must not be allowed additional attempts during the same
(telephone call/twenty-four hour day) to enter the PIN
(4) Written Confirmation: A
written confirmation of any APS Transaction shall be mailed to the
shareholder(s) to whose account such APS Transaction relates, at
the original record address, by the end of the Insured’s next
regular processing cycle, but in no event later than five business
days following such APS Transaction.
(5) Access to APS Equipment:
Access to the equipment which permits the entity receiving the APS
Transaction request to process and effect the transaction shall be
limited in the following manner:
2. Exclusions. It is
further understood and agreed that this extension shall not
cover:
a. Any loss covered under Insuring
Agreement A. “Fidelity”, of this Bond;
b. Any loss resulting from:
(1) The redemption of
shares, where the proceeds of such redemption are made payable to
other than
(i) the
shareholder of record, or
(ii) a person
officially Designated to receive redemption proceeds, or
(iii) a bank account
officially Designated to receive redemption proceeds, or
(2) The redemption of
shares, where the proceeds of such redemption are paid by check
mailed to any address, unless such address has either been
| |
(i) |
designated by voice over the telephone or in
writing without a signature guarantee, in either case at least
thirty (30) days prior to such redemption, or
|
| |
(ii) |
Officially Designated, or
|
| |
(iii) |
Verified by any other procedures which may be
stated below in this Rider, or
|
(3) The redemption of
shares, where the proceeds of such redemption are paid by wire
transfer to other than the shareholder’s officially Designated bank
account, or
(4) The Intentional failure
to adhere to one or more APS Designated Procedures.
| 2. |
Nothing herein contained shall be held to vary,
alter, waive, or extend any of the terms, limitations, conditions
or provisions of the attached bond other than above stated.
|
| 3. |
This rider shall become effective as of 12:01 a.m.
on 07/01/2022, standard time as specified in the bond.
|
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| By: |
|
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|
|
Authorized Representative |
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
INSURING AGREEMENT M
TELEFACSIMILE TRANSMISSIONS
To be attached to and form part of Investment Company Blanket Bond
No. 24157067
issued to PIMCO Funds.
It is agreed that:
| 1. |
The attached bond is amended by adding an
additional Insuring Agreement as follows:
|
TELEFACSIMILE TRANSMISSIONS
Loss resulting by reason of the Insured having
transferred, paid or delivered any funds or Property, established
any credit, debited any account, or given any value relying on any
fraudulent instructions sent by a customer or financial institution
by Telefacsimile Transmission directed to the Insured, authorizing
or acknowledging the transfer, payment, or delivery of funds or
property, the establishment of a credit, debiting of any account,
or the giving of value by the Insured, but only if such
telefacsimile instructions:
| |
i) |
bear a valid test key exchanged between the Insured
and a customer or another financial institution with authority to
use such test key for Telefacsimile instructions in the ordinary
course of business, but which test key has been wrongfully obtained
by a person who was not authorized to initiate, make, validate or
authenticate a test key arrangement; and
|
| |
ii) |
fraudulently purport to have been sent by such
customer or financial institution, but which telefacsimile
instruction were transmitted without the knowledge or consent of
such customer or financial institution by a person other than such
customer or financial institution and which bear a forged
signature.
|
As used in this Insuring Agreement, “Telefacsimile”
means a system of transmitting written documents by electronic
signals over telephone lines to equipment maintained by the Insured
within its communication room for the purposes of reproducing a
copy of said document. It does not mean electronic communication
sent by Telex, TWC, or electronic mail, or Automated Clearing
House.
| 2. |
The Single Loss Limit of Liability for the coverage
provided under the TELEFACSIMILE TRANSMISSIONS Insuring Agreement
shall be $15,000,000 it being understood, however, that such
liability shall be part of, and not in addition to, the aggregate
limit of liability stated in Item 3 of the Declaration of the
attached bond.
|
| 3. |
The Underwriter shall be liable hereunder for the
amount by which a Single Loss exceeds the Deductible Amount of
$250,000 but not in excess of the Single Limit of Liability stated
above.
|
| 4. |
Nothing herein contained shall be held to vary,
alter, waive or extend any of the terms, limitations conditions or
agreements of the attached bond other than as above stated.
|
| 5. |
This rider is effective as of 12:01 a.m. on
07/01/2022, standard time as specified in the attached bond.
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| By: |
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Authorized Representative |
|
|
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA
AMENDMENT TO TERMINATION
To be attached to and form part of Investment Company Blanket Bond
No. 24157067
in favor of PIMCO Funds.
It is agreed that:
|
|
|
|
1.
|
|
The attached bond is hereby amended by deleting Section 13.
TERMINATION in its entirety and replacing it with the
following:
|
SECTION 13. TERMINATION
The Underwriter may terminate this bond as an
entirety by furnishing written notice specifying the termination
date which cannot be prior to 90 days after the receipt of such
written notice by each Investment Company named as Insured and the
Securities and Exchange Commission, Washington, D.C. The Insured
may terminate this bond as an entirety by furnishing written notice
to the Underwriter. When the Insured cancels, the Insured shall
furnish written notice to the Securities and Exchange Commission,
Washington, D.C. prior to 90 days before the effective date of the
termination. The Underwriter shall notify all other Investment
Companies named as Insured of the receipt of such termination
notice and the termination cannot be effective prior to 90 days
after receipt of written notice by all other Investment Companies.
Premiums are earned until the termination date as set forth
herein.
This Bond will terminate as to any one Insured
(other than a registered management investment company) immediately
upon taking over of such Insured by a receiver or other liquidator
or by State or Federal officials, or immediately upon the filing of
a petition under any State or Federal statute relative to
bankruptcy or reorganization of the Insured, or assignment for he
benefit of creditors of the Insured, or immediately upon such
Insured ceasing to exist, whether through merger into another
entity, or by disposition of all of its assets.
This Bond will terminate as to any registered
management investment company upon the expiration of 90 days after
written notice has been given to the Securities and Exchange
Commission, Washington, D.C.
The Underwriter shall refund the unearned premium
computed at short rates in accordance with the standard short rate
cancellation tables if terminated by the Insured or pro rata
terminated for any other reason.
This bond shall terminate
| |
a. |
as to any Employee as soon as any partner, officer
or supervisory Employee of the Insured, who is not in collusion
with such Employee, shall learn of any dishonest or fraudulent
act(s), including Larceny or Embezzlement on the part of such
Employee without prejudice to the loss of any Property then in
transit in the custody of such Employee and upon the expiration of
ninety (90) days after written notice has been given to the
Securities and Exchange Commission, Washington, D.C. (See
Section 16(d)) and to the Insured Investment Company, or
|
|
| |
b. |
as to any Employee 90 days after receipt by each
Insured and by the Securities and Exchange Commission of a written
notice from the Underwriter of its desire to terminate this bond as
to such Employee, or
|
|
| |
c. |
as to any person, who is a partner, officer or
employee of any Electronic Data Processor covered under this bond,
from and after the time that the Insured or any partner or officer
thereof not in collusion with such person shall have knowledge or
information that such person has committed any dishonest or
fraudulent act(s), including Larceny or Embezzlement in the service
of the Insured or otherwise, whether such act be committed before
or after the time this bond is effective and upon the expiration of
ninety (90) days after written notice has been given by the
Underwriter to the Securities and Exchange Commission, Washington
DC and to the insured Investment Company.
|
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2.
|
|
Nothing herein contained shall be held to vary, alter, waive, or
extend any of the terms, limitations, conditions, or provisions of
the attached bond other than as above stated.
|
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3.
|
|
This rider is effective as of 12:01 a.m. on 07/01/2022.
|
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By:
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| |
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| |
Authorized Representative |
|
|
EDGEWOOD PARTNERS INSURANCE CENTER
ATTN: Veronica Koprowski
350 HUDSON STREET
NEW YORK, NY 10014
|
|
|
| INSURED: |
|
PIMCO FUNDS |
|
|
| PRODUCT: |
|
DFIBond |
|
|
| POLICY
NO: |
|
82126616 |
|
|
| TRANSACTION: |
|
RENL_RW |
PREMIUM BILL
Producer: EDGEWOOD PARTNERS INSURANCE CENTER
Company: FEDERAL INSURANCE COMPANY
THIS BILLING IS TO BE ATTACHED TO AND FORM PART OF THE BOND
REFERENCED BELOW.
| NOTE: |
PLEASE RETURN THIS BILL WITH REMITTANCE AND NOTE
HEREON ANY CHANGES. BILL WILL BE RECEIPTED AND RETURNED TO YOU
PROMPTLY UPON REQUEST.
|
PLEASE REMIT TO PRODUCER INDICATED ABOVE. PLEASE REFER TO:
|
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|
EFFECTIVE DATE
|
|
BOND NUMBER |
|
COVERAGE |
|
|
|
PREMIUM |
|
July 1, 2022
|
|
82126616
|
|
EXCESS BOND
|
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|
|
$36,214.00
|
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To
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July 1, 2023
|
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|
Renewal |
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0.00% Commission
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TOTAL
|
|
$36,214.00
|
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|
|
| Chubb Group of
Insurance Companies |
|
DECLARATIONS |
| 202B Hall’s Mill
Road |
|
FINANCIAL INSTITUTION |
|
|
| Whitehouse Station,
NJ 08889 |
|
EXCESS BOND FORM E |
|
|
| NAME OF ASSURED: |
|
Bond Number: 82126616 |
|
|
| PIMCO FUNDS |
|
FEDERAL INSURANCE COMPANY |
|
|
Incorporated under the laws of Indiana, |
| 650 NEWPORT CENTER
DRIVE |
|
a stock insurance company, herein called the
COMPANY |
| NEWPORT BEACH, CA 92660 |
|
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Capital Center, 251 North Illinois, Suite
1100 |
|
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Indianapolis, IN 46204-1927 |
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| ITEM 1. |
|
BOND PERIOD: |
|
from |
|
12:01 a.m. on July 1, 2022 |
|
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to |
|
12:01 a.m. on July 1, 2023 |
|
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| ITEM 2. |
|
AGGREGATE LIMIT OF LIABILITY:
$15,000,000 |
|
|
|
| ITEM 3. |
|
SINGLE LOSS LIMIT OF LIABILITY: |
|
$15,000,000 excess
$15,000,000 |
|
|
| ITEM 4. |
|
DEDUCTIBLE AMOUNT: $ See Endorsement
#4 (17-02-1003) |
|
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|
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| ITEM 5. |
|
PRIMARY BOND: |
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Insurer: |
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National Union Fire
Insurance Company of Pittsburgh, PA |
|
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Bond No. |
|
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|
24157067 |
|
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Limit |
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$15,000,000 |
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Deductible: |
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|
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$250,000 |
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|
Bond Period |
|
|
|
July 1, 2022
to July 1, 2023 |
|
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| ITEM 6. |
|
COVERAGE EXCEPTIONS TO PRIMARY
BOND: |
|
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|
|
NOTWITHSTANDING ANY COVERAGE PROVIDED BY THE PRIMARY BOND, THIS
EXCESS BOND DOES NOT DIRECTLY OR INDIRECTLY COVER:
N/A
|
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|
| ITEM 7. |
|
TOTAL OF LIMITS OF LIABILITY OF OTHER
UNDERLYING BONDS, EXCESS OF PRIMARY BOND: |
|
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| ITEM 8. |
|
THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE
FOLLOWING ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:
1 – 4 Endorsements
|
IN WITNESS WHEREOF, THE COMPANY issuing this Bond has caused
this Bond to be signed by its authorized officers, but it shall not
be valid unless also signed by a duly authorized representative of
the Company.
|
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Secretary
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President
|
| August 5, 2022 |
|
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| Date |
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|
Authorized Representative |
|
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|
Excess Bond (7-92) |
|
|
| Form 17-02-0842 (Ed. 7-92) |
|
Page 1 of 1 |
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|
The COMPANY, in consideration of the required
premium, and in reliance on the statements and information
furnished to the COMPANY by the ASSURED, and subject to the
DECLARATIONS made a part of this bond and to all other terms and
conditions of this bond, agrees to pay the ASSURED for:
|
| Insuring
Clause |
|
Loss which would have been paid under
the Primary Bond but for the fact the loss exceeds the
Deductible Amount. |
|
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|
Coverage under this bond shall follow
the terms and conditions of the Primary Bond, except with
respect to: |
|
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a. |
|
The coverage exceptions in ITEM 6. of the
DECLARATIONS; and |
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b. |
|
The limits of liability as stated in ITEM 2. and
ITEM 3. of the DECLARATIONS. |
|
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With respect to the exceptions stated above, the provisions of this
bond shall apply.
|
| General
Agreements |
|
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|
Change Or Modification Of Primary
Bond |
|
A. |
|
If after the inception date of this bond the
Primary Bond is changed or modified, written notice of any
such change or modification shall be given to the COMPANY as soon
as practicable, not to exceed thirty (30) days after such
change or modification, together with such information as the
COMPANY may request. There shall be no coverage under this bond for
any loss related to such change or modification until such time as
the COMPANY is advised of and specifically agrees by written
endorsement to provide coverage for such change or
modification.
|
| Representations
Made By Assured |
|
B. |
|
The ASSURED represents that all information it has furnished to the
COMPANY for this bond or otherwise is complete, true and correct.
Such information constitutes part of this bond.
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The ASSURED must promptly notify the COMPANY of any change in any
fact or circumstance which materially affects the risk assumed by
the COMPANY under this bond.
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Any misrepresentation, omission, concealment or
incorrect statement of a material fact by the ASSURED to the
COMPANY shall be grounds for recision of this bond.
|
| Notice To Company
Of Legal Proceedings Against Assured - Election To
Defend |
|
C. |
|
The ASSURED shall notify the COMPANY at the earliest practical
moment, not to exceed thirty (30) days after the ASSURED
receives notice, of any legal proceeding brought to determine the
ASSURED’S liability for any loss, claim or damage which, if
established, would constitute a collectible loss under this bond or
any of the Underlying Bonds. Concurrent with such notice,
and as requested thereafter, the ASSURED shall furnish copies of
all pleadings and pertinent papers to the COMPANY.
|
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Excess Bond (7-92) R
Form 17-02-0842 (Ed. 7-92) R
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Page 1 of 5 |
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| General Agreements |
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| Notice To Company
Of Legal Proceedings Against Assured - Election To Defend
(continued) |
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If the COMPANY elects to defend all or part of any legal
proceeding, the court costs and attorneys’ fees incurred by the
COMPANY and any settlement or judgment on that part defended by the
COMPANY shall be a loss under this bond. The COMPANY’S liability
for court costs and attorneys’ fees incurred in defending all or
part of such legal proceeding is limited to the proportion of such
court costs and attorneys’ fees incurred that the amount
recoverable under this bond bears to the amount demanded in such
legal proceeding.
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If the COMPANY declines to defend the ASSURED, no
settlement without the prior written consent of the COMPANY or
judgment against the ASSURED shall determine the existence, extent
or amount of coverage under this bond, and the COMPANY shall not be
liable for any costs, fees and expenses incurred by the
ASSURED.
|
| Conditions And
Limitations |
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| Definitions |
|
1. |
|
As used in this bond: |
|
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|
|
a. |
|
Deductible Amount means the amount stated in ITEM 4. of the
DECLARATIONS. In no event shall this Deductible Amount be
reduced for any reason, including but not limited to, the
non-existence, invalidity,
insufficiency or uncollectibility of any of the Underlying
Bonds, including the insolvency or dissolution of any Insurer
providing coverage under any of the Underlying Bonds.
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b. |
|
Primary Bond means the bond scheduled in ITEM 5. of the
DECLARATIONS or any bond that may replace or substitute for such
bond.
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c. |
|
Single Loss means all covered
loss, including court costs and attorneys’ fees incurred by the
COMPANY under General Agreement C., resulting from: |
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(1) |
|
any one act of burglary, robbery or attempt either, in which no
employee of the ASSURED is implicated, or
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(2) |
|
any one act or series of related acts on the part of any person
resulting in damage to or destruction or misplacement of property,
or
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(3) |
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all acts other than those specified in c.(1) and c.(2), caused by
any person or in which such person is implicated, or
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(4) |
|
any one event not specified above, in c.(1), c.(2)
or c.(3). |
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|
d. |
|
Underlying Bonds means the Primary
Bond and all other insurance coverage referred to in ITEM 7. of
the DECLARATIONS.
|
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|
Excess Bond (7-92) |
|
|
| Form 17-02-0842 (Ed. 7-92) |
|
Page 2 of 5 |
|
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| Conditions And
Limitations |
|
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| (continued) |
|
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|
Limit Of Liability
Aggregate Limit Of Liability
|
|
2.
|
|
The COMPANY’S total cumulative liability for all Single
Losses of all ASSUREDS discovered during the BOND PERIOD shall
not exceed the AGGREGATE LIMIT OF LIABILITY as stated in ITEM 2. of
the DECLARATIONS. Each payment made under the terms of this bond
shall reduce the unpaid portion of the AGGREGATE LIMIT OF LIABILITY
until it is exhausted.
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On exhausting the AGGREGATE LIMIT OF LIABILITY by such
payments:
|
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a.
|
|
the COMPANY shall have no further liability for loss or losses
regardless of when discovered and whether or not previously
reported to the COMPANY, and
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|
b.
|
|
the COMPANY shall have no obligation under General Agreement C. to
continue the defense of the ASSURED, and on notice by the COMPANY
to the ASSURED that the AGGREGATE LIMIT OF LIABILITY has been
exhausted, the ASSURED shall assume all responsibility for its
defense at its own cost.
|
|
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|
|
The unpaid portion of the AGGREGATE LIMIT OF LIABILITY shall not be
increased or reinstated by any recovery made and applied in
accordance with Section 4. In the event that a loss of
property is settled by indemnity in lieu of payment, then such loss
shall not reduce the unpaid portion of the AGGREGATE LIMIT OF
LIABILITY.
|
|
|
|
Single Loss Limit Of
Liability |
|
The COMPANY’S liability for each Single Loss
shall not exceed the SINGLE LOSS LIMIT OF LIABILITY as stated in
ITEM 3. of the DECLARATIONS or the unpaid portion of the AGGREGATE
LIMIT OF LIABILITY, whichever is less.
|
|
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|
| Discovery |
|
3.
|
|
This bond applies only to loss first discovered by the ASSURED
during the BOND PERIOD. Discovery occurs at the earlier of the
ASSURED being aware of:
|
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|
|
|
|
|
a.
|
|
facts which may subsequently result in a loss of a type covered by
this bond, or
|
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b.
|
|
an actual or potential claim in which it is alleged that the
ASSURED is liable to a third party,
|
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|
|
regardless of when the act or acts causing or
contributing to such loss occurred, even though the amount of loss
does not exceed the applicable Deductible Amount, or
the exact amount or details of loss may not then be known.
|
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|
|
| Subrogation-Assignment-Recovery |
|
4.
|
|
In the event of a payment under this bond, the COMPANY shall be
subrogated to all of the ASSURED’S rights of recovery against any
person or entity to the extent of such payments. On request, the
ASSURED shall deliver to the COMPANY an assignment of the ASSURED’S
rights, title and interest and causes of action against any person
or entity to the extent of such payment.
|
|
|
|
|
Excess Bond (7-92) |
|
|
| Form 17-02-0842 (Ed. 70-2) |
|
Page 3 of 5 |
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| Conditions And
Limitations |
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Subrogation-Assignment-Recovery
(continued) |
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Recoveries, whether effected by the COMPANY or by
the ASSURED, shall be applied net of the expense of such recovery,
first, to the satisfaction of the ASSURED’S loss which would
otherwise have been paid but for the fact that it is in excess of
the AGGREGATE LIMIT OF LIABILITY, second, to the COMPANY in
satisfaction of amounts paid in settlement of the ASSURED’S claim
and third, to the ASSURED in satisfaction of the DEDUCTIBLE AMOUNT.
Recovery from reinsurance and/or indemnity of the COMPANY shall not
be deemed a recovery under this Section.
|
| Cooperation Of
Assured |
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5. |
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At the COMPANY’S request and at reasonable times and places
designated by the COMPANY the ASSURED shall:
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a. |
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submit to examination by the COMPANY and subscribe to the same
under oath, and
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b. |
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produce for the COMPANY’S examination all pertinent records,
and
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c. |
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cooperate with the COMPANY in all matters pertaining to the
loss.
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The ASSURED shall execute all papers and render
assistance to secure to the COMPANY the rights and causes of action
provided for under this bond. The ASSURED shall do nothing after
loss to prejudice such rights or causes of action.
|
| Termination |
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6. |
|
This bond terminates as an entirety on the earliest occurrence of
any of the following:
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a. |
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sixty (60) days after the receipt by the ASSURED of a written
notice from the COMPANY of its decision to terminate this bond,
or
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b. |
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immediately on the receipt by the COMPANY of a written notice from
the ASSURED of its decision to terminate this bond, or
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c. |
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immediately on the appointment of a trustee, receiver or liquidator
to act on behalf of the ASSURED, or the taking over of the ASSURED
by State or Federal officials, or
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d. |
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immediately on the dissolution of the ASSURED, or
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e. |
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immediately on exhausting the AGGREGATE LIMIT OF LIABILITY, or
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f. |
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immediately on expiration of the BOND PERIOD, or
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g. |
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immediately on cancellation, termination or
recision of the Primary Bond.
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Conformity |
|
7. |
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If any limitation within this bond is prohibited by
any law controlling this bond’s construction, such limitation shall
be deemed to be amended so as to equal the minimum period of
limitation provided by such law.
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|
Excess Bond (7-92) |
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| Form 17-02-0842 (Ed. 7-92) |
|
Page 4 of 5 |
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| Conditions And
Limitations |
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| (continued) |
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| Change Or
Modification Of This Bond |
|
8. |
|
This bond or any instrument amending or affecting this bond may not
be changed or modified orally. No change in or modification of this
bond shall be effective except when made by written endorsement to
this bond signed by an Authorized Representative of the
COMPANY.
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Excess Bond (7-92)
Form 17-02-0842 (Ed. 70-2)
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Page 5 of 5 |
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FEDERAL INSURANCE COMPANY |
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Endorsement No: |
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1 |
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Bond Number: |
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82126616 |
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| NAME OF ASSURED: PIMCO FUNDS |
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PREMIUM ENDORSEMENT
It is agreed that:
| 1. |
The premium for this bond for the period July 1,
2022 to July 1, 2023 is:
|
| |
Premium: Thirty -Six Thousand Two Hundred and Fourteen
Dollars ($36,214.00)
|
| 2. |
It is further agreed that this premium is subject to
change during this period if amendments are made to this bond at
the request of the ASSURED.
|
This Endorsement applies to loss discovered after 12:01 a.m. on
July 1, 2022.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
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| Date: August 5, 2022 |
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By |
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Authorized Representative |
Excess Bond
Form 17-02-0735 (Rev. 1-97)
ENDORSEMENT/RIDER
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Effective date of
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this endorsement/rider: July 1, 2022
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FEDERAL INSURANCE COMPANY
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Endorsement/Rider No. 2
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To be attached to and
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form a part of Policy No. 82126616
|
Issued to: PIMCO FUNDS
COMPLIANCE WITH APPLICABLE TRADE SANCTION
LAWS
It is agreed that this insurance does not apply to the extent that
trade or economic sanctions or other similar laws or regulations
prohibit the coverage provided by this insurance.
The title and any headings in this endorsement/rider are solely for
convenience and form no part of the terms and conditions of
coverage.
All other terms, conditions and limitations of this Policy shall
remain unchanged.
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Authorized Representative
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| 14-02-9228 (2/2010) |
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Page 1 |
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ENDORSEMENT/RIDER
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Effective date of
this endorsement/rider: July 1,
2022
|
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FEDERAL INSURANCE COMPANY |
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Endorsement/Rider No. 3 |
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To be attached to and |
|
|
form a part of Bond No. 82126616 |
| Issued to: PIMCO FUNDS |
|
|
REMOVE AGGREGATE LIMIT OF LIABILITY ENDORSEMENT
In consideration of the premium charged, it is agreed that this
bond is amended as follows:
| 1. |
By deleting in its entirety ITEM 2., AGGREGATE LIMIT
OF LIABILITY, on the DECLARATIONS.
|
| 2. |
By deleting in its entirety Section 2., Limit of
Liability, and substituting the following:
|
| |
“Section 2. Single Loss Limit of Liability
|
| |
The COMPANY’S liability for each Single Loss
discovered during the BOND PERIOD shall not exceed the applicable
SINGLE LOSS LIMIT OF LIABILITY as stated in ITEM 3. of the
DECLARATIONS. If a Single Loss is covered under more than
one INSURING CLAUSE, the maximum payable shall not exceed the
largest applicable SINGLE LOSS LIMIT OF LIABILITY.”
|
| 3. |
By deleting in its entirety the second paragraph of
Section 4., Subrogation-Assignment-Recovery, and substituting
the following:
|
| |
Recoveries, whether effected by the COMPANY or by the
ASSURED, shall be applied net of the expense of such recovery,
first, to the satisfaction of the ASSURED’S loss which would
otherwise have been paid, second, to the COMPANY in satisfaction of
amounts paid in settlement of the ASSURED’S claim and third, to the
ASSURED in satisfaction of the DEDUCTIBLE AMOUNT. Recovery from
reinsurance and/or indemnity of the COMPANY shall not be deemed a
recovery under this Section.
|
| 4. |
By deleting in its entirety subparagraph e. from
Section 6, Termination.
|
The title and any headings in this endorsement/rider are solely for
convenience and form no part of the terms and conditions of
coverage.
All other terms, conditions and limitations of this Bond shall
remain unchanged.
|
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Authorized Representative
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| 14-02-13158
(05/2007) |
|
Page 1 |
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FEDERAL INSURANCE COMPANY
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Endorsement No. |
|
4 |
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Bond Number: |
|
82126616 |
NAME OF ASSURED: PIMCO FUNDS
AMENDED DEDUCTIBLE/DROP DOWN ENDORSEMENT
It is agreed that this bond is amended by deleting ITEM 4.,
DEDUCTIBLE AMOUNT of the DECLARATIONS, in its entirety and
substituting the following:
“ITEM 4. DEDUCTIBLE AMOUNT
| |
a. |
$250,000, plus any unpaid portion of the AGGREGATE
LIMIT OF LIABILITY of the Underlying Bonds on the date of
payment of any Single Loss under this bond.
|
| |
b. |
The ASSURED shall notify the COMPANY immediately of
any payment made or intended to be made under any of the
Underlying Bonds.
|
| |
c. |
This bond shall drop down but only by the amount paid
under the Underlying Bonds.”
|
This Endorsement applies to loss discovered after 12:01 a.m. on
July 1, 2022.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
|
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Date: August 5, 2022
|
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By
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Authorized Representative |
|
|
Excess Bond
Form 17-02-1003 (Ed. 7-92)
IMPORTANT NOTICE TO POLICYHOLDERS
All of the members of the Chubb Group of
Insurance companies doing business in the United States
(hereinafter “Chubb”) distribute their products through licensed
insurance brokers and agents (“producers”). Detailed information
regarding the types of compensation paid by Chubb to producers on
US insurance transactions is available under the Producer
Compensation link located at the bottom of the page at
www.chubb.com, or by calling 1-866-588-9478.
Additional information may be available from your producer.
Thank you for choosing Chubb.
10-02-1295 (ed. 6/2007)
Important Notice:
The SEC Requires Proof of Your Fidelity Insurance Policy
Your company is now required to file an electronic copy of your
fidelity insurance coverage (Chubb’s ICAP Bond policy) to the
Securities and Exchange Commission (SEC), according to rules
adopted by the SEC on June 12, 2006.
Chubb is in the process of providing your agent/broker with an
electronic copy of your insurance policy as well as instructions on
how to submit this proof of fidelity insurance coverage to the SEC.
You can expect to receive this information from your agent/broker
shortly.
The electronic copy of your policy is provided by Chubb solely as a
convenience and does not affect the terms and conditions of
coverage as set forth in the paper policy you receive by mail. The
terms and conditions of the policy mailed to you, which are the
same as those set forth in the electronic copy, constitute the
entire agreement between your company and Chubb.
If you have any questions, please contact your agent or broker.
Form 14-02-12160 (ed. 7/2006)
125 Broad Street, 8th Fl, New York, NY 10004
August 8, 2022
Michael Klaschka
Managing Principal
EDGEWOOD PARTNERS INSURANCE CENTER
350 HUDSON ST FL 4
NEW YORK, NY 10014-4500
Mutual Fund Bond
Policy Number 267860356
Expiration Date: 07/01/2023
Dear Michael,
We are pleased to enclose Policy Number 267860356
for PIMCO Funds. We trust that this policy meets with the
specifications outlined in our quotation (number 6292984101).
Please review it carefully to confirm this. Should you detect any
problem, please contact me as soon as possible.
If commissions or other compensation are payable
hereunder, Insurance Producer will comply with all applicable
federal and state laws, rules, regulations and/or orders governing
disclosure by an agent, broker or producer to an insured or
prospective insured of commissions or other compensation.
We appreciate the opportunity to do business with
PIMCO Funds and with you. If you should have any comments,
questions, or concerns, please do not hesitate to contact me.
Sincerely,
John Moscato
Assistant Vice President
(212) 440-3781
John.Moscato@cna.com
|
|
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|
|
|
DECLARATIONS
EXCESS INSURANCE POLICY
|
|
|
|
|
|
|
|
|
ACCOUNT NUMBER
|
|
233330
|
|
COVERAGE PROVIDED BY
(hereafter Insurer)
|
|
Continental Casualty Company |
|
POLICY NUMBER
|
|
267860356
|
|
Item 1: NAMED ENTITY AND PRINCIPAL ADDRESS
|
|
PRODUCER
|
|
PIMCO Funds
650 Newport Center Drive
Newport Beach, CA 92660
|
|
EDGEWOOD PARTNERS INSURANCE CENTER
350 HUDSON ST FL 4
NEW YORK, NY 10014-4500
|
| Attn: |
|
|
|
Michael Klaschka
|
|
|
|
|
|
|
|
|
Item 2.
|
|
Policy
|
|
7/1/2022 To 7/1/2023
|
|
Item 3. Limit of Liability
|
|
|
Period:
|
|
|
|
|
|
|
|
|
12:01 a.m. Standard Time at the Principal
|
|
$15,000,000 maximum aggregate Limit
of Liability under the Policy |
|
|
|
|
Address stated in Item 1.
|
|
|
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|
|
Item 4.
|
|
Schedule of Underlying Insurance:
|
|
|
|
|
|
|
A. Followed Policy
|
|
|
|
|
|
|
|
|
|
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|
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Name of Carrier
|
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Policy No
|
|
Limits
|
|
Ded/Ret Amount
|
|
|
|
|
|
|
|
National Union Fire Insurance Company
of Pittsburgh, PA |
|
|
24157067 |
|
$15,000,000 |
|
$250,000 |
|
|
|
|
|
|
B. Underlying Excess Policies:
|
|
|
*** SEE ATTACHED SCHEDULE ***
|
|
|
|
|
|
|
|
|
|
Item 5.
|
|
Policy Premium
|
|
|
$34,664 |
|
|
|
|
|
|
|
|
|
|
|
|
| Item 6. |
|
Notices of Claims: |
|
All other Notices: |
|
|
CNA – Claims Reporting |
|
|
|
|
P.O. Box 8317 |
|
Open Brokerage Global Specialty Lines |
|
|
Chicago, IL 60680-8317 |
|
CNA Insurance Company |
|
|
Email address: SpecialtyProNewLoss@cna.com |
|
125 Broad Street – 8th Floor |
|
|
Fax Number: 866-773-7504 |
|
New York, NY 10004 |
|
|
|
| Item 7. |
|
Endorsements forming a part of this Policy at
inception: |
|
|
|
|
GSL-7132-XX
2010-06-01
Trade
And Economic Sanctions Endorsement |
These Declarations, along with the completed and signed
Application, the Policy, and any written endorsements attached
thereto shall constitute the contract between the Insureds and the
Insurer.
|
|
|
|
|
| Authorized
Representative: |
|
 |
|
Date: August 8, 2022 |
|
|
|
|
|
| G-22076-B(c) (ED. 06-10) |
|
1 |
|
|
|
© CNA All Rights Reserved. |
|
|
UNDERLYING EXCESS POLICY SCHEDULE
|
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| Name of Carrier |
|
|
|
|
Policy No. |
|
|
|
|
|
Limits |
|
|
Excess of |
|
|
|
|
|
|
|
|
Federal Insurance Company
|
|
|
|
|
|
|
82126616 |
|
|
|
|
|
|
$ |
15,000,000 |
|
|
$ |
15,000,000 |
|
|
|
|
|
|
| G-22076-B(c) (ED. 06-10) |
|
2 |
|
|
|
© CNA All Rights Reserved. |
|
|
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|
|
|
|
EXCESS INSURANCE
POLICY |
Words defined in the Followed Policy have the
same meaning in this Policy even if not defined herein. In
consideration of the payment of the premium and in reliance upon
the applications submitted to the Insurer or any insurer of the
Underlying Insurance, and any other material submitted in
connection with such applications (all of which are deemed attached
hereto and made a part hereof) the Insurer and the Insureds agree
as follows:
|
|
|
| I. |
|
FOLLOW FORM EXCESS COVERAGE
|
|
|
The Insurer shall provide coverage in accordance with all of the
terms, conditions and limitations (including, but not limited to
the exclusions and notice requirements) of the policy scheduled in
Item 4.A. of the Declarations (hereafter “Followed Policy”)
except as otherwise set forth herein. Coverage hereunder shall
attach only after all of the aggregate Limits of Liability, as set
forth in Item 4. of the Declarations have been exhausted through
payment of covered loss under all policies scheduled in Item 4. of
the Declarations (hereafter “Underlying Insurance”) by or on
behalf of the insurers of such Underlying Insurance, or by
or on behalf of the Insureds. The risk of uncollectibility of any
Underlying Insurance (in whole or in part), whether because
of financial impairment or insolvency of an underlying insurer or
for any other reason, is expressly retained by the Insureds and is
not insured by or assumed by the Insurer.
|
| II. |
|
LIMIT OF LIABILITY
|
|
|
The amount set forth in Item 3. of the Declarations shall be the
maximum aggregate Limit of Liability of the Insurer for all loss
under this Policy, regardless of the number of claims made against
the Insureds or the time of payment and regardless of whether or
not an extended reporting period applies. If the Limit of Liability
under this Policy is exhausted by payment of loss, the Insurer’s
obligations under this Policy shall be deemed completely fulfilled
and extinguished.
|
| III. |
|
CHANGES TO UNDERLYING INSURANCE/DEPLETION OF SUB-LIMITS
|
|
|
If, subsequent to the inception date of this Policy, there is a
change to any Underlying Insurance which expands coverage,
then this Policy shall become subject to such change only if the
Insurer agrees thereto by written endorsement to this Policy. If
any loss under any Underlying Insurance is subject to a
sub-limit, then this Policy
provides no coverage excess of such Underlying Insurance
sub-limit, but the
Underlying Insurance shall be deemed depleted by payment of
any such sub-limit.
|
| IV. |
|
INSURER RIGHTS/COOPERATION CLAUSE
|
|
|
The Insurer has the same rights and protections as has the insurer
of the Followed Policy and has the right, but not the
obligation, at its sole discretion, to elect to participate in the
investigation, settlement, prosecution or defense of any claim
reasonably likely to attach to and be covered under this Policy or
any Underlying Insurance, even if the Underlying
Insurance has not been exhausted. The Insureds shall cooperate
with the Insurer in such investigation, settlement, prosecution or
defense and shall do nothing that prejudices the Insurer’s position
or rights of recovery.
|
| V. |
|
NOTICES
|
|
|
Where notice is permitted or required by the
Followed Policy, the Insureds have the same rights and
obligations to notify the Insurer under this Policy, except that
such notice shall be given to the Insurer at the applicable address
specified in Item 6. of the Declarations. |
IN WITNESS WHEREOF, the Insurer has caused this Policy to be
executed by its Chairman and Secretary, but this Policy shall not
be binding upon us unless completed by the attachment of the
Declarations:
|
|
|
|
|
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|
|
|
|
|
Chairman |
|
|
|
Secretary |
|
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| |
|
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 |
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 |
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|
|
| G-22075-B (Ed. 06-10) |
|
- 1 - |
|
|
|
|
© CNA All Rights Reserved. |
|
|
TRADE AND ECONOMIC SANCTIONS ENDORSEMENT
In consideration of the premium charged, it is understood and
agreed, a new condition is added to the Policy as follows:
This Policy does not provide coverage for Insureds, transactions or
that part of loss that is uninsurable under the laws or regulations
of the United States concerning trade or economic sanctions.
All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to
the Policy issued by the designated Insurers, takes effect on the
effective date of said Policy at the hour stated in said Policy,
unless another effective date is shown below, and expires
concurrently with said Policy.
|
|
|
|
|
| GSL7132XX (6-10) |
|
Policy No: |
|
267860356 |
| Page 1 |
|
Endorsement No: |
|
1 |
| Continental Casualty Company |
|
Effective Date: |
|
07/01/2022 |
| Insured Name: PIMCO Funds |
|
|
|
|
© CNA All Rights Reserved.
PO Box 2950
Hartford, CT 06104-2950
July 7, 2022
PIMCO Funds
650 Newport Center Drive
NEWPORT BEACH, CA 92660
Re: Important Information about Claims Information
Line
Dear PIMCO Funds
Travelers Bond & Specialty Insurance is
pleased to announce its 1-800-842-8496 Claims
Information Line. This line is designed to provide insureds with an
additional resource on how to report claims or those circumstances
or events which may become claims.
Policyholders will be able to obtain assistance on the following
topics from the Claims Information
Line:
| |
• |
|
The information that needs to be included with the claim notice
|
| |
• |
|
The address, electronic mail address and/or facsimile number to
which the policyholder can send claims related information
|
| |
• |
|
Get questions on the claim process answered
|
The Declarations Page of your policy sets forth
where you should report claims and claims related information. You
should also review the policy’s reporting requirements to be aware
of how much time you have to report a claim to Travelers. The
sooner Travelers is notified, the sooner we can become involved in
the process and offer assistance to our policyholder. A delay in
reporting may result in all or part of a matter to fall outside of
the coverage provided.
The Claims Information Line should streamline the
claim reporting process and allow policyholders to ask questions on
what information is needed as well as other questions which will
assist them in working with Travelers. While the Claims Information
Line provides policyholders a valuable resource by answering
questions and providing information, the line does not replace the
reporting requirements contained in the Policy.
We hope this improvement to customer service is
something our policyholders will find helps them understand the
claim process and provides them a resource for reporting.
|
|
|
| LTR-4035 Ed. 06-09 |
|
Page 1 of
1 |
| © 2009 The Travelers Indemnity
Company. All rights reserved. |
|
|
|
|
This notice provides no coverage, nor does it change any policy
terms. To determine the scope of coverage and the insured’s rights
and duties under the policy, read the entire policy carefully. For
more information about the content of this notice, the insured
should contact their agent or broker. If there is any conflict
between the policy and this notice, the terms of the policy
prevail.
|
|
Independent Agent And Broker
Compensation Notice
|
For information on how Travelers compensates independent agents,
brokers, or other insurance producers, please visit this website:
www.travelers.com/w3c/legal/Producer_Compensation_Disclosure.html.
Or write or call:
Travelers, Agency Compensation
P.O. Box 2950
Hartford, Connecticut 06104-2950
(866) 904.8348
|
|
|
| NTC-19036 Rev. 01-19 |
|
Page 1 of 1 |
| © 2019 The Travelers Indemnity Company. All rights
reserved. |
|
|
|
|
|
 |
|
Excess Bond Coverage
Declarations
|
Travelers Casualty and Surety Company of
America
Hartford, Connecticut
(A Stock Insurance Company, herein called the
Company)
| ITEM 1 |
THE COMPANY ISSUES THIS EXCESS BOND COVERAGE
TO:
|
| ITEM 2 |
EXCESS BOND COVERAGE PERIOD:
|
| |
The Excess Bond Coverage Period shall be effective
at:
|
| |
Inception Date: July 01, 2022
Expiration
Date: July 01, 2023
|
| |
12:01 A.M on standard time both dates at the
Principal Address stated in ITEM 1, subject to SECTION 5. EXCESS
BOND COVERAGE PERIOD of the TERMS, CONDITIONS AND
LIMITATIONS of this Excess Bond Coverage.
|
| ITEM 3 |
ALL NOTICES OF CLAIM OR LOSS MUST BE SENT TO THE
COMPANY BY EMAIL, FACSIMILE, OR MAIL AS SET FORTH BELOW:
|
| |
Email: BSIclaims@travelers.com
|
| |
Mail: Travelers Bond & Specialty
Insurance Claim
|
P.O.
Box 2989
Hartford,
CT 06104-2989
| |
Overnight Mail:
Travelers Bond & Specialty
Insurance Claim
|
One Tower Square, S202A
Hartford, CT 06183
| |
For questions related to claim reporting or
handling, please call 1-800-842-8496.
|
|
|
|
|
|
|
|
|
ITEM 4 |
|
LIMIT OF INSURANCE: |
|
|
|
|
|
|
A. |
|
SINGLE LOSS LIMIT OF INSURANCE: |
|
$20,000,000 |
|
|
|
|
|
|
B. |
|
AGGREGATE LIMIT OF INSURANCE: |
|
Not Applicable |
|
|
|
|
XSB-2001 Ed. 01-12 |
|
Page 1 of 3 |
| © 2012 The Travelers Indemnity
Company. All rights reserved. |
| ITEM 5 |
SCHEDULE OF UNDERLYING INSURANCE:
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Bond or Policy
Number |
|
Bond or Policy
Period |
|
Single Loss
Limit of
Insurance |
|
Aggregate Limit
of Insurance |
|
Single Loss
Deductible |
|
A. Issuer of Primary Bond or Policy
|
|
National Union Fire Insurance Company of
Pittsburgh, Pa
|
|
24157067 |
|
07/01/2022 to 07/01/2023 |
|
$15,000,000 |
|
N/A |
|
$250,000 |
|
B. Other Underlying Insurers
|
|
|
|
|
|
|
|
|
|
Federal Insurance Company
|
|
82126616 |
|
07/01/2022 to 07/01/2023
|
|
$15,000,000 |
|
N/A |
|
N/A |
|
Continental Casualty
Company
|
|
267860356 |
|
07/01/2022 to 07/01/2023 |
|
$15,000,000 |
|
N/A |
|
N/A |
| C. |
TOTAL AMOUNT OF UNDERLYING SINGLE LOSS LIMIT OF
INSURANCE:
|
The total amount of Underlying Single Loss Limit of
Insurance is $45,000,000 plus any Single Loss Deductible
under the Bond or Policy identified in ITEM 5 A. of the
Declarations of this Excess Bond Coverage
| D. |
TOTAL AMOUNT OF UNDERLYING AGGREGATE LIMIT OF
INSURANCE EACH EXCESS BOND COVERAGE PERIOD:
|
The total amount of Underlying Aggregate Limit of
Insurance each Excess Bond Coverage Period is Not Applicable
plus any Single Loss Deductible under the Bond or Policy identified
in ITEM 5 A. of the Declarations of this Excess Bond Coverage
|
|
|
|
|
|
|
| ITEM 6 |
|
SUBJECT TO THE DECLARATIONS, INSURING AGREEMENT,
TERMS, CONDITIONS AND LIMITATIONS, AND
ENDORSEMENTS OF THIS EXCESS BOND COVERAGE AND AS EXCEPTED BELOW,
THIS EXCESS BOND COVERAGE FOLLOWS THE FORM OF:
|
|
|
|
|
|
Insurer’s Name: |
|
National Union Fire Insurance
Company of Pittsburg |
|
|
Bond or Policy Number: |
|
24157067 |
|
|
|
|
Policy Period: |
|
From: July 01, 2022 |
|
To: July 01,
2023 |
|
|
Except as provided below: |
|
|
|
|
|
|
|
|
|
|
None |
|
|
|
|
|
|
|
|
ITEM 7
|
|
PREVIOUS BONDS OR POLICIES:
|
|
|
|
|
|
|
The Insured, by acceptance of this Excess Bond
Coverage, gives notice to the Company canceling or terminating
prior bond or policy numbers: |
|
|
|
|
Not Applicable |
|
|
|
|
such cancellation or termination to be effective as of the time
this bond becomes effective.
|
|
ITEM 8
|
|
FORMS AND ENDORSEMENTS ATTACHED AT ISSUANCE:
|
|
|
|
|
XSB-2001 Ed. 01-12 |
|
Page 2 of 3 |
| © 2012 The Travelers Indemnity
Company. All rights reserved. |
XSB-3001-0112;
XSB-19001-0315
PRODUCER INFORMATION:
EDGEWOOD PARTNERS INS
3780 MANSELL RD STE 370
ALPHARETTA, GA 30022
IN WITNESS WHEREOF, the Company has caused this policy/bond to be
signed by its authorized officers.
|
|
|
 |
|
 |
|
President
|
|
Corporate Secretary
|
|
|
|
|
XSB-2001 Ed. 01-12 |
|
Page 3 of 3 |
| © 2012 The Travelers Indemnity
Company. All rights reserved. |
|
|
|
|
|
|
Excess Bond Coverage
|
|
|
|
|
|
|
|
INSURING AGREEMENT
IN CONSIDERATION of the payment of an agreed
premium, and in reliance upon completeness and accuracy of the
statements and disclosures made to the Company and any issuer of
Underlying Insurance by application, including all attachments,
subject to the Declarations, Insuring Agreements, Terms, Conditions
And Limitations, and Endorsements of this Excess Bond Coverage,
this Excess Bond Coverage is subject to the same Insuring
Agreements, Terms, Conditions And Limitations, and Endorsements as
provided by the Bond or Policy identified in ITEM 6 of the
Declarations of this Excess Bond Coverage. In no event shall this
Excess Bond Coverage provide broader coverage than would be
provided by the most restrictive Underlying Insurance.
This Excess Bond Coverage is not subject to the
same premium or the Limit of Insurance of the Bond or Policy
identified in ITEM 6 of the Declarations.
TERMS, CONDITIONS AND LIMITATIONS
SECTION 1. UNDERLYING COVERAGE
| |
A. |
The Insured(s) shall notify the Company in writing,
as soon as practicable, of a failure to maintain in full force and
effect, without alteration, the coverage and provisions of the
Bond(s) or Policy(ies) identified in ITEM 5 A. and B. of the
Declarations.
|
| |
B. |
In the event there is no recovery available to the
Insured as a result of the insolvency of any Underlying Insurer or
the Insured’s failure to comply with the maintenance of any
Underlying Insurance, the coverage hereunder shall apply as excess
of the amount of all Underlying Insurance plus the amount of any
applicable deductible to the same extent as if the Underlying
Insurance were maintained in full force and effect.
|
| |
C. |
If the coverage and provisions of the Bond or
Policy identified in ITEM 6 of the Declarations are altered, the
Insured shall, as soon as practicable, give the Company written
notice of such alteration(s); and upon receipt of written consent
to such alteration(s) from the Company, the Insured shall pay any
additional premium required by the Company. This Excess Bond
Coverage shall not follow the form of any alteration(s) to the Bond
or Policy identified in ITEM 6 of the Declarations unless such
written notice thereof is given by the Insured(s) to the Company,
the Company gives written consent to such alteration(s) and the
Insured(s) pay(s) any additional premium required by the
Company.
|
| |
D. |
Except as provided in Section 2. Limit Of
Insurance, D. and E. below, in no event shall the Company be liable
to pay loss under this Excess Bond Coverage until the total amount
of the Underlying Single Loss Limit of Insurance as stated in ITEM
5 C. of the Declarations has been exhausted solely by reason of the
payment of loss by the Underlying Insurer(s) as covered loss under
the applicable Underlying Insurance.
|
| |
E. |
Any claim, loss or coverage that is subject to a
Sublimit in any Underlying Insurance shall not be considered
covered loss under this Excess Bond Coverage, but shall, for
purposes of this Excess Bond Coverage, reduce or exhaust the
Underlying Limit of Insurance to the extent such payment reduces or
exhausts the aggregate limit(s) of insurance of such Underlying
Insurance.
|
SECTION 2. LIMIT OF INSURANCE
| |
A. |
Payment by the Company of loss covered under this
Excess Bond Coverage shall reduce the Aggregate Limit of Insurance
of this Excess Bond Coverage set forth in ITEM 4 B. of the
Declarations. In the event of exhaustion of the Aggregate Limit of
Insurance of this Excess Bond Coverage set forth in ITEM 4 B. of
the Declarations, the Company shall be relieved of all further
liability under this Excess Bond Coverage.
|
|
|
|
|
|
| XSB-3001
Ed. 01-12 |
|
|
|
Page 1 of 3 |
| © 2012 The Travelers Indemnity
Company. All rights reserved. |
|
|
| |
B. |
The Company’s maximum liability for a Single Loss
covered under this Excess Bond Coverage shall not exceed the amount
of the Single Loss Limit of Insurance stated in ITEM 4 A. of the
Declarations. Also, the Company’s maximum liability for all
loss(es) in the aggregate covered under this Excess Bond Coverage
shall not exceed the amount of the Aggregate Limit of Insurance
stated in ITEM 4 B. of the Declarations, which shall be the maximum
liability of the Company in the Excess Bond Coverage Period stated
in ITEM 2 of the Declarations.
|
| |
C. |
Except as provided in Section 2. Limit Of
Insurance, D. and E. below, the Company shall only be liable to
make payment for a Single Loss covered under this Excess Bond
Coverage after the total amount of the Underlying Single Loss Limit
of Insurance as stated in ITEM 5 C. of the Declarations has been
paid solely by reason of the payment of loss by the Underlying
Insurer(s) as covered loss under the applicable Underlying
Insurance.
|
| |
D. |
In the event the total amount of the Underlying
Aggregate Limit of Insurance as stated in ITEM 5 D. of the
Declarations is reduced solely by reason of the payment of covered
loss by any Underlying Insurer to an amount less than the total
amount of the Underlying Single Loss Limit of Insurance as stated
in ITEM 5 C. of the Declarations, this Excess Bond Coverage shall
pay covered loss excess of the reduced total amount of Underlying
Aggregate Limit of Insurance, but not to exceed the amount of the
Single Loss Limit of Insurance stated in ITEM 4 A. of the
Declarations, and subject always to the remaining Aggregate Limit
of Insurance of this Excess Bond Coverage.
|
| |
E. |
In the event of exhaustion of the total amount of
Underlying Aggregate Limit of Insurance as set forth in ITEM 5 D.
of the Declarations, solely by reason of the payment of covered
loss by the Underlying Insurer(s), this Excess Bond Coverage shall
continue in force as primary insurance, provided always that this
policy shall only pay covered loss excess over any retention or
deductible amount otherwise applicable under the Underlying
Insurance scheduled in ITEM 5 A. of the Declarations, such amount
not to exceed the Single Loss Limit of Insurance stated in ITEM 4
A. of the Declarations and subject always to the remaining
Aggregate Limit of Insurance of this Excess Bond Coverage.
|
SECTION 3. JOINT INSUREDS
If two or more Insureds are covered under this
Excess Bond Coverage, the first named Insured shall act for all
Insureds. Payment by the Company to the first named Insured or to
any named Insured of loss covered under this Excess Bond Coverage
shall fully release the Company on account of such loss. The
liability of the Company for loss(es) sustained by all Insureds
shall not exceed the amount for which the Company would have been
liable had all such loss(es) been sustained by one Insured.
SECTION 4. NOTICE/PROOF OF LOSS – LEGAL
PROCEEDINGS AGAINST COMPANY
| |
A. |
The Insured(s) shall, within the time and manner
prescribed in the Bond or Policy identified in ITEM 6 of the
Declarations, give the Company notice of any loss of the kind
covered by this Excess Bond Coverage, whether or not the Company is
liable therefor in whole or in part, and upon request of the
Company, the Insured(s) shall file with the Company a written
statement of such loss and a copy of all correspondence between the
Insured(s) and any Insurer identified in ITEM 5 A. and B. of the
Declarations. Notice given to any Insurer identified in ITEM 5 A.
and B. of the Declarations of this Excess Bond Coverage shall not
constitute notice as required under Section 4. Notice/Proof Of
Loss – Legal Proceedings Against Company.
|
| |
B. |
The Insured(s) shall, within the time and manner
prescribed in the Bond or Policy identified in ITEM 6 of the
Declarations, file with the Company a proof of loss for any loss of
the kind covered by this Excess Bond Coverage, whether or not the
Company is liable therefore in whole or in part, and upon request
of the Company the Insured(s) shall furnish a copy of all documents
provided to or made available to any Insurer identified in ITEM 5
A. and B. of the Declarations in support of any proof of loss filed
with such Insurer. Filing of a proof of loss with any Insurer
identified in ITEM 5 A. and B. of the Declarations shall not
constitute filing a proof of loss with the Company as required in
Section 4. Notice/Proof Of Loss – Legal Proceedings Against
Company.
|
|
|
|
|
|
| XSB-3001
Ed. 01-12 |
|
|
|
Page 2 of 3 |
| © 2012 The Travelers Indemnity
Company. All rights reserved. |
|
|
| |
C. |
Legal proceedings against the Company shall be
commenced within the time prescribed in the Bond or Policy
identified in ITEM 6 of the Declarations and only after complying
with all the Terms, Conditions And Limitations of this Excess Bond
Coverage.
|
| |
D. |
Notice and proof of loss under this Excess Bond
Coverage shall be given as set forth in ITEM 3 of the
Declarations.
|
SECTION 5. EXCESS BOND COVERAGE
PERIOD
| |
A. |
The term Excess Bond Coverage Period as used in
this Excess Bond Coverage shall mean the lesser of the period
stated in ITEM 2 of the Declarations or the time between the
effective date and the termination date of this Excess Bond
Coverage.
|
| |
B. |
The Aggregate Limit of Insurance set forth in ITEM.
4 B. of the Declarations shall not be cumulated regardless of the
number of Excess Bond Coverage Periods this Excess Bond Coverage
has been in force; the number of renewals of this Excess Bond
Coverage by the Company; any extensions of the Excess Bond Coverage
Period of this Excess Bond Coverage by the Company; the number of
and amount of premiums paid by the Insured, or the number of Excess
Bond Coverage Periods of this Excess Bond Coverage in which the
acts giving rise to a loss(es) were committed or occurred.
|
SECTION 6. SINGLE LOSS DEFINED
As used herein, Single Loss shall be defined as
that term, or any similar term, as defined in the Bond or Policy
identified in ITEM 6 of the Declarations.
SECTION 7. CANCELLATION OF THIS EXCESS
BOND COVERAGE BY THE COMPANY OR THE INSURED
This Excess Bond Coverage terminates as an entirety
upon occurrence of any of the following:
| |
A. |
after the receipt by the Insured of a written
notice from the Company of its desire to cancel this Excess Bond
Coverage in accordance with the conditions and limitations of any
Bond or Policy identified in ITEM 5 A. and B. of the
Declarations,
|
| |
B. |
immediately upon the receipt by the Company of a
written notice from the Insured of its desire to cancel this Excess
Bond Coverage, or
|
| |
C. |
immediately upon cancellation, termination or
nonrenewal of the Underlying Bond or Policy identified in ITEM 6 of
the Declarations, whether by the Insured or the underwriter.
|
|
|
|
|
|
| XSB-3001
Ed. 01-12 |
|
|
|
Page 3 of 3 |
| © 2012 The Travelers Indemnity
Company. All rights reserved. |
|
|
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ
IT CAREFULLY.
GLOBAL COVERAGE COMPLIANCE ENDORSEMENT
This endorsement changes the following:
Excess Bond
It is agreed that:
The following sections are added to TERMS, CONDITIONS AND
LIMITATIONS:
UNLICENSED INSURANCE
| |
A. |
This Excess Bond Coverage does not apply to loss
sustained by an Insured domiciled in any country or jurisdiction in
which the Company is not licensed to provide this insurance, to the
extent that providing this insurance would violate the laws or
regulations of such country or jurisdiction.
|
| |
B. |
In the event an Insured sustains loss referenced in
A. above to which this Excess Bond Coverage would have applied, the
Company will reimburse the first named Insured for its loss, on
account of its Financial Interest in such Insured. As a condition
precedent to such reimbursement, or exercising rights under this
Excess Bond Coverage, the first named Insured will cause such
Insured to comply with the conditions of this Excess Bond
Coverage.
|
| |
C. |
The term Financial Interest as used in this Excess
Bond Coverage shall mean the insurable interest of the first name
Insured in an Insured that is domiciled in a country or
jurisdiction in which the Company is not licensed to provide this
insurance, as a result of the first named Insured’s:
|
| |
1. |
ownership of the majority of the outstanding
securities or voting rights of the Insured representing the present
right to elect, appoint, or exercise a majority control over such
Insured’s board of directors, board of trustees, board of managers,
natural person general partner, or functional foreign
equivalent;
|
| |
2. |
indemnification of, or representation that it has
an obligation to indemnify, the Insured for loss sustained by such
Insured; or
|
| |
3. |
election or obligation to obtain insurance for such
Insured.
|
SANCTIONS
This Excess Bond Coverage will provide coverage, or
otherwise will provide any benefit, only to the extent that
providing such coverage or benefit does not expose the Company or
any of its affiliated or parent companies to any trade or economic
sanction under any law or regulation of the United States of
America or any other applicable trade or economic sanction,
prohibition or restriction.
Nothing herein contained shall be held to vary, alter, waive or
extend any of the terms, conditions, exclusions or limitations of
the above-mentioned policy, except as expressly stated herein. This
endorsement is part of such policy and incorporated therein.
Issuing Company: Travelers Casualty and Surety Company of
America
Policy Number: 106544116
|
|
|
|
XSB-19001 Ed. 03-15 |
|
Page 1 of 1 |
| © 2015 The Travelers
Indemnity Company. All rights reserved. |
|
|
July 28, 2022
Veronica Koprowski
Edgewood Partners Insurance Center
350 Hudson St
New York, NY 10014
Re: PIMCO Funds
Policy # BFIV-45001524-28
Dear Veronica,
Thank you for insuring your account with Berkley Crime. Attached
please find a copy of the policy for the above referenced account.
In the event of loss, please contact:
Ms. Megan Manogue
Vice President, Chief Claims Officer
901 Dulaney Valley Road, Suite 708
Towson, Maryland 21204
Phone (toll free): (866) 539-3995, Option 3
Fax (toll free): (866) 915-7879
E-Mail: claims@berkleycrime.com
Please feel free to contact me with any additional questions.
Sincerely,
George Pierce
Vice President - Underwriting
gpierce@berkleycrime.com
757 Third Avenue, 10th Floor, New York, NY
10017 PH. 844.44.CRIME
|
|
|
|
|
|
PRODUCER
Veronica Koprowski
Edgewood Partners Insurance Center
350 Hudson St
New York, NY 10014
(646) 452-4038
|
|
Underwritten By
BERKLEY REGIONAL INSURANCE COMPANY
|
|
|
|
|
|
|
|
| Administrative Office: |
|
|
|
Issuing Office: |
| 475 Steamboat Road |
|
|
|
29 South Main Street, Suite
308 |
| Greenwich, CT 06830 |
|
|
|
West Hartford, CT 06107 |
INVESTMENT COMPANY EXCESS FOLLOW FORM
CERTIFICATE
|
|
|
|
|
|
|
| POLICY NUMBER |
|
BFIV-45001524-28 |
|
PRIOR POLICY NUMBER |
|
BFIV-45001524-27 |
| NAMED INSURED |
|
PIMCO Funds |
|
|
|
|
|
|
|
|
| MAILING ADDRESS |
|
650 Newport Center Drive |
|
|
|
|
|
|
Newport Beach, CA 92660 |
|
|
|
|
|
|
|
|
| POLICY PERIOD |
|
7/01/2022 to 7/01/2023 |
|
|
|
|
|
|
(12:01 A.M. at your Mailing Address
shown above) |
|
|
TERMS AND CONDITIONS:
In consideration of the premium charged and in reliance upon the
statements and information furnished to the COMPANY by the Insured
and subject to the terms and conditions of the UNDERLYING COVERAGE
scheduled below, the COMPANY agrees to pay the Insured, as excess
and not contributing insurance, for loss which:
| |
a) |
would have been paid by the underlying Carrier(s) in
the UNDERLYING COVERAGE scheduled below but for the fact that such
loss exceeds the Limit of Liability of the underlying Carrier(s),
and
|
| |
b) |
for which the underlying Carrier(s) has made monetary
payment and the Insured has collected the full monetary amount of
the underlying Carrier’s expressed Limit of Liability.
|
This policy does not provide coverage in excess of any sub-limited coverage in the underlying
policy which is below the underlying Carrier’s expressed Limit of
Liability in the UNDERLYING COVERAGE scheduled below.
|
|
|
|
LEAD CARRIER FOR LAYER: |
|
Berkley Regional Insurance Company |
|
LIMIT OF LIABILITY:
|
|
$25,000,000 excess of $65,000,000 plus deductible |
|
AGGREGATE LIMIT:
|
|
|
UNDERLYING COVERAGE:
|
|
|
|
Carrier:
|
|
National
Union Fire Insurance Company of Pittsburgh, PA |
|
Limit of Liability:
|
|
$15,000,000 |
|
Deductible:
|
|
$250,000 |
|
Policy Number:
|
|
24157067 |
|
Policy Period:
|
|
07/01/2022 to 07/01/2023 |
|
|
|
Carrier:
|
|
Federal Insurance Company |
|
Limit of Liability:
|
|
$15,000,000 excess of $15,000,000 plus
deductible |
|
Policy Number:
|
|
82126616 |
|
Policy Period:
|
|
07/01/2022 to 07/01/2023 |
|
|
|
Carrier:
|
|
Continental Insurance Company |
|
Limit of Liability:
|
|
$15,000,000 excess of $30,000,000 plus
deductible |
|
Policy Number:
|
|
267860356 |
|
Policy Period:
|
|
07/01/2022 to 07/01/2023 |
|
|
|
| BCR CGI XS 01 15 |
|
Page 1 of 2 |
|
|
|
|
Carrier: |
|
Travelers Casualty and Surety Company of America |
| Limit of
Liability: |
|
$20,000,000
excess of $45,000,000 plus deductible |
| Policy
Number: |
|
106544116 |
| Policy
Period: |
|
07/01/2022 to
07/01/2023 |
|
|
|
|
|
|
|
|
Forms and Endorsements Forming Part of this Policy When
Issued: |
Form Number and
Edition Date |
|
Description of Form or Endorsement: |
| BCR WDC 01 01 15 |
|
Berkley Crime We Deliver Cover Page |
| BCR COV 01 08 18 |
|
Berkley Crime Cover Letter |
| BCR CGI XS 01 15 |
|
Excess Follow Form Certificate |
| BAP 90 00 11 13 |
|
Forms Index |
| IL P 001 01 04 |
|
U.S. Treasury Department’s Office of Foreign Assets Control
(“OFAC”) Advisory Notice to Policyholders |
| IL 83 19 08 15 |
|
Office Of Foreign Assets Control (OFAC) Exclusion Endorsement |
| BCR WDB 01 01 15 |
|
Berkley Crime We Deliver Back Page |
|
|
|
|
Cancellation of Prior Insurance
Issued by Us: |
|
By acceptance of this Policy you give us notice canceling prior
policy Numbers: BFIV-45001524-27
the cancellation to be effective at the time this Policy becomes
effective.
|
IN WITNESS WHEREOF, Berkley Regional Insurance Company designated
herein has executed and attested these presents.
|
|
|
|
|
 |
|
 |
|
|
|
|
|
|
|
|
|
Ira S. Lederman
Director, Senior Vice President and
Secretary
|
|
W. Robert Berkley, Jr.
Director and President
|
|
|
|
|
|
| BCR CGI XS 01 15 |
|
Page 2 of 2 |
|
|
|
| POLICY NUMBER: BFIV-45001524-28 |
|
BAP 90 00 11 13 |
| NAMED INSURED: PIMCO Funds |
|
ENDORSEMENT #: 1 |
| EFFECTIVE DATE: 07/01/2022 |
|
EXPIRATION DATE: 07/01/2023 |
| DATE OF ISSUANCE: 07/28/2022 |
|
|
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ
IT CAREFULLY.
FORMS INDEX
|
|
|
|
Forms and Endorsements Forming Part of this Policy When
Issued: |
Form Number and
Edition Date |
|
Description of Form or Endorsement: |
| BCR WDC 01 01 15 |
|
Berkley Crime We Deliver Cover Page |
| BCR COV 01 08 18 |
|
Berkley Crime Cover Letter |
| BCR CGI XS 01 15 |
|
Excess Follow Form Certificate |
| BAP 90 00 11 13 |
|
Forms Index |
| IL P 001 01 04 |
|
U.S. Treasury Department’s Office of Foreign Assets Control
(“OFAC”) Advisory Notice to Policyholders |
| IL 83 19 08 15 |
|
Office Of Foreign Assets Control (OFAC) Exclusion Endorsement |
| BCR WDB 01 01 15 |
|
Berkley Crime We Deliver Back Page |
All other terms, conditions, limitations and exclusions remain
unchanged.
|
|
|
| BAP 90 00 11 13 |
|
Page 1 of
1 ☐ |
IL P 001 01 04
U.S. TREASURY DEPARTMENT’S OFFICE OF FOREIGN
ASSETS CONTROL (“OFAC”)
ADVISORY NOTICE TO POLICYHOLDERS
No coverage is provided by this Policyholder Notice
nor can it be construed to replace any provisions of your policy.
You should read your policy and review your Declarations page for
complete information on the coverages you are provided.
This Notice provides information concerning
possible impact on your insurance coverage due to directives issued
by OFAC. Please read this Notice carefully.
The Office of Foreign Assets Control (OFAC)
administers and enforces sanctions policy, based on Presidential
declarations of “national emergency”. OFAC has identified and
listed numerous:
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• |
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Terrorist organizations; and
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as “Specially Designated Nationals and Blocked
Persons”. This list can be located on the United States Treasury’s
web site — http//www.treas.gov/ofac.
In accordance with OFAC regulations, if it is
determined that you or any other insured, or any person or entity
claiming the benefits of this insurance has violated U.S. sanctions
law or is a Specially Designated National and Blocked Person, as
identified by OFAC, this insurance will be considered a blocked or
frozen contract and all provisions of this insurance are
immediately subject to OFAC. When an insurance policy is considered
to be such a blocked or frozen contract, no payments nor premium
refunds may be made without authorization from OFAC. Other
limitations on the premiums and payments also apply.
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| IL P 001 01 04 |
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© ISO Properties, Inc.,
2004
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Page 1 of 1 |
INTERLINE
IL 83 19 08 15
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ
CAREFULLY
OFFICE OF FOREIGN ASSET CONTROL (OFAC)
EXCLUSION ENDORSEMENT
No insurer shall be deemed to provide cover and no insurer shall be
liable to pay any claim or provide any benefit hereunder to the
extent that the provision of such cover, payment of such claim or
provision of such benefit would expose that insurer to any
sanction, prohibition or restriction under United Nations
resolutions or the trade or economic sanctions laws or regulations
of the European Union, United Kingdom or the United States.
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| IL 83 19 08 15 |
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Page 1 of 1 |
Berkley
Crime
29 South Main Street,
3rd Floor |
West Hartford, CT 06107 | 844.44.CRIME
Berkleycrime.com
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AXIS EXCESS
INSURANCE |
POLICYHOLDER NOTICE
ECONOMIC AND TRADE SANCTIONS
This Notice provides information concerning possible impact on your
insurance coverage due to directives issued by the Office of
Foreign Assets Control (OFAC).
THE OFFICE OF FOREIGN ASSETS CONTROL (“OFAC”) OF
THE US DEPARTMENT OF THE TREASURY ADMINISTERS AND ENFORCES ECONOMIC
AND TRADE SANCTIONS BASED ON US FOREIGN POLICY AND NATIONAL
SECURITY GOALS AGAINST TARGETED FOREIGN COUNTRIES AND REGIMES,
TERRORISTS, INTERNATIONAL NARCOTICS TRAFFICKERS, THOSE ENGAGED IN
ACTIVITIES RELATED TO THE PROLIFERATION OF WEAPONS OF MASS
DESTRUCTION, AND OTHER THREATS TO THE NATIONAL SECURITY, FOREIGN
POLICY OR ECONOMY OF THE UNITED STATES.
WHENEVER COVERAGE PROVIDED BY THIS POLICY WOULD
BE IN VIOLATION OF ANY U.S. ECONOMIC OR TRADE SANCTIONS, SUCH
COVERAGE SHALL BE NULL AND VOID.
FOR MORE INFORMATION, PLEASE REFER TO:
HTTPS://WWW.TREASURY.GOV/RESOURCE-CENTER/SANCTIONS/PAGES/DEFAULT.ASPX
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| AXIS 906
0316 |
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Page 1 of 1 |
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AXIS EXCESS
INSURANCE |
DECLARATIONS
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NAMED
INSURED
AND
ADDRESS
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PIMCO Funds
650 Newport Center Drive
Newport Beach, CA 92660
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BROKER
OF
RECORD
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Edgewood Partners Insurance Center (EPIC) [New
York]
350 Hudson Street
New York, NY 10014
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| INSURER |
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AXIS Insurance Company (Admitted)
111 South Wacker Drive, Suite 3500
Chicago, IL 60606
(866) 259-5435
A Stock Insurer
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POLICY
FORM
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AXIS EXCESS INSURANCE POLICY AXIS 1010302 0817 |
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POLICY
NUMBER
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P-001-000157461-03
Renewal of: P-001-000157461-02
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POLICY
PERIOD
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Effective Date: 07/01/2022
Expiration Date: 07/01/2023
Both dates at 12:01 a.m. at the Named Insured’s
address stated herein.
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| TOTAL POLICY PREMIUM |
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$17,005.00 |
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MINIMUM EARNED PREMIUM
(percentage of Total Policy
Premium)
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N/A |
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SURCHARGE / TAX
(included in Total Policy Premium)
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N/A |
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| POLICY LIMITS
OF INSURANCE |
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Single Loss
Limit |
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$10,000,000 excess of $90,000,000 |
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| AXIS 101 0301 0817 |
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P-001-000157461-03
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Page 1 of 4 |
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AXIS EXCESS
INSURANCE |
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| SCHEDULE OF
UNDERLYING INSURANCE |
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| PRIMARY
(FOLLOWED POLICY) |
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| Coverage Description |
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Investment Company Blanket Bond |
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| Insurer |
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National Union Fire Insurance Company of Pittsburgh, Pa. |
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| Policy Number |
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24157067 |
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| Single Loss Limit of
Insurance |
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$15,000,000 |
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| Retention |
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$250,000 |
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| FIRST
EXCESS |
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| Insurer |
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Federal
Insurance Company |
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| Policy Number |
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82126616 |
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| Single Loss Limit of
Insurance |
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$15,000,000 excess of $15,000,000 |
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| SECOND
EXCESS |
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| Insurer |
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Continental Casualty Company |
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| Policy Number |
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267860356 |
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| Single Loss Limit of
Insurance |
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$15,000,000 excess of $30,000,000 |
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| THIRD
EXCESS |
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| Insurer |
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Travelers Casualty and Surety Company of America |
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| Policy Number |
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106544116 |
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| Single Loss Limit of
Insurance |
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$20,000,000 excess of $45,000,000 |
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| FOURTH
EXCESS |
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| Insurer |
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Berkley Regional Insurance Company |
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| Policy Number |
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BFIV-45001524-28 |
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| Single Loss Limit of
Insurance |
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$25,000,000 excess of $65,000,000 |
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| AXIS 101 0301 0817 |
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P-001-000157461-03
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Page 2 of 4 |
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AXIS EXCESS
INSURANCE |
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| NOTICES TO INSURER |
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Send Notice of Claims To: |
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Send All
Other Notices And Inquiries To: |
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AXIS Insurance |
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AXIS
Insurance |
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Claims Department |
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10000 Avalon
Blvd. |
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P.O. Box 4470 |
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Suite 200 |
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Alpharetta, GA 30023-4470 |
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Alpharetta, GA
30009 |
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Email: USFNOL@axiscapital.com |
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Email:
notices@axiscapital.com |
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Phone (Toll-Free): (866) 259-5435 |
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Phone
(Toll-Free): (866) 259-5435 |
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Phone: (678) 746- 9000 |
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Phone: (678)
746- 9000 |
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Fax: (866) 770-5629 |
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Fax: (678) 746-9444 |
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| AXIS 101 0301 0817 |
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P-001-000157461-03
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Page 3 of 4 |
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AXIS EXCESS
INSURANCE |
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| SCHEDULE OF FORMS &
ENDORSEMENTS |
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| Policyholder Notices and Policy Forms |
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Form Number and Edition Date |
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Policyholder Notice - Economic And Trade Sanctions |
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AXIS 906 0316 |
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AXIS Excess Insurance Policy |
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AXIS 1010302 0817 |
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Signature Page |
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AXIS 102AIC 0615 |
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| Endorsements |
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Form Number and Edition Date |
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1
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Definitions Added - Sublimit Or Sublimited Endorsement |
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AXIS 1011683 0121 |
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| AXIS 101 0301 0817 |
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P-001-000157461-03
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Page 4 of 4 |
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AXIS EXCESS
INSURANCE |
In consideration of the premium paid, and subject
to the provisions of this Policy and the Declarations and any
Schedules and Endorsements attached hereto, all of which are made a
part of this Policy, the Insurer and Named Insured, on
behalf of all Insureds, agree as follows:
INSURING
AGREEMENT
Except as specifically set forth herein, and
subject to the Limits of Insurance shown on the Declarations, this
Policy shall provide insurance excess of the Underlying
Insurance in conformance with all provisions of the Followed
Policy. Liability shall attach to the Insurer only after the
full amount of the applicable Underlying Limit, and any
applicable retention or deductible, has been paid, in legal
currency, by the insurers of the Underlying Insurance, the
Insureds, or others on behalf of the Insureds, in any
combination, in accordance with the terms of the Underlying
Insurance.
DEFINITIONS
Whether expressed in the singular or the plural,
whenever appearing in bold in this Policy, the following terms have
the meanings set forth below.
Followed Policy means the insurance policies
identified as such in the Schedule of Underlying Insurance attached
hereto.
Insureds means all persons and entities
identified as such in the Followed Policy.
Named Insured means the persons or entities
designated as such in the Declarations.
Policy Period means the period
designated as such in the Declarations.
Underlying Insurance means the Followed
Policy and all other policies, if any, identified as such in
the Schedule of Underlying Insurance attached hereto.
Underlying Limit means an amount equal to
the aggregate of all applicable limits of insurance set forth in
the Schedule of Underlying Insurance attached hereto.
CONDITIONS
| A. |
Wherever the term claim appears in this Policy, it
refers to claim, loss or occurrence, or the equivalent of such
terms, as used in the Followed Policy.
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| B. |
This Policy shall not apply to any coverage under
the Followed Policy that is subject to a sublimit of
insurance in any Underlying Insurance, unless specifically
listed as a sublimited coverage on the Schedule of Underlying
Insurance. However, payment for any sublimited coverage in any
manner described in the INSURING AGREEMENT section of this Policy
shall reduce the Underlying Limit by the amount of such
payment, whether or not such coverage is listed on the Schedule of
Underlying Insurance.
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| C. |
The Insureds shall give written notice to
the Insurer if any Underlying Insurance is changed or
terminated or if any insurer of the Underlying Insurance
becomes financially unable to pay its limit of insurance. No such
event shall affect coverage under this Policy, unless the Insurer
so agrees in writing. The failure of the Insureds to comply
with this section shall not invalidate coverage. However, the
Insurer shall not be liable to a greater extent than it would have
been had no such event occurred.
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| D. |
All notices to the Insurer must be in writing and
delivered by prepaid express courier or certified mail, facsimile,
or electronic mail to the applicable address, fax number, or email
address designated in the Declarations. Notice to any other insurer
shall not constitute notice to the Insurer unless also given to the
Insurer as provided herein.
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| E. |
The Insurer may, at its sole discretion, elect to
participate in the investigation, defense and settlement of any
claim or other matter to which the coverage under this Policy could
apply even if the applicable Underlying Limit has not been
exhausted. The Insureds shall provide the Insurer with
information, assistance and cooperation as the Insurer reasonably
requests and shall do nothing to prejudice the Insurer’s position
or potential rights of recovery; provided, however, the failure of
an Insured to comply with such request shall not be imputed
to any other natural person Insured under this Policy. No
action by any other insurer shall bind the Insurer under this
Policy.
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SIGNATURE PAGE FOLLOWS.
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| AXIS 1010302 0817 |
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Page 1 of 1 |
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AXIS EXCESS INSURANCE |
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SIGNATURE PAGE
IN WITNESS WHEREOF, the Insurer has caused this policy to be issued
by affixing hereto the facsimile signatures of its President and
Secretary.
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| Secretary |
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President |
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| Andrew Weissert, Secretary |
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Carlton W. Maner, President |
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| AXIS 102AIC 0615 |
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Page 1 of 1 |
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AXIS EXCESS INSURANCE |
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Endorsement
Number
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Effective Date of Endorsement |
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Policy Number |
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Premium |
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1 |
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12:01 a.m. on 07/01/2022 |
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P-001-000157461-03 |
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N/A |
DEFINITIONS ADDED – SUBLIMIT OR SUBLIMITED
ENDORSEMENT
It is agreed that a new definition is added as follows:
Wherever the following words appear in the policy, whether in bold
or unbolded, they shall have the following meaning:
Sublimit or sublimited means any limit that is:
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1. |
part of and erodes another limit of insurance; or
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2. |
not part of and does not erode the policy aggregate
limit of insurance; or
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3. |
less than the highest Limit of Insurance of the
Followed Policy set forth in the Schedule of Underlying
Insurance, where this Policy does not have any applicable policy
aggregate limit of insurance; or
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4. |
not a monetary limit of insurance.
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All other provisions of the policy remain unchanged.
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| AXIS 1011683 0121 |
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Page 1 of 1 |
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U.S. SPECIALTY INSURANCE COMPANY
(Herein called “the Insurer”)
Houston, TX
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DECLARATIONS |
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EXCESS FINANCIAL INSTITUTION
BOND |
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| Policy Number: 64-MGU-22-A54697 |
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Renewal of: 64-MGU-21-A52298 |
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| ITEM 1. |
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NAMED INSURED: |
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PIMCO Funds |
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Principal Address: |
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650 Newport Center Drive |
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Newport Beach, CA 92660 |
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| ITEM 2. |
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BOND PERIOD: |
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(a) Inception Date: |
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7/1/2022 |
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(b) Expiration Date: |
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7/1/2023 |
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at 12:01 a.m. at the Principal Address
Stated in ITEM 1. |
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| ITEM 3. |
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LIMITS OF LIABILITY: |
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(a) Single Loss Limit of Liability:
$115,000,000 |
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(b) Aggregate Limit of Liability:
$ N/A |
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| ITEM 4 |
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SCHEDULE OF UNDERLYING
INSURANCE: |
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See Attached Schedule of Underlying
Insurance |
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| ITEM 5. |
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PREMIUM:
$149,845.00 |
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| ITEM 6. |
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NOTICES REQUIRED TO BE GIVEN TO
INSURER MUST BE ADDRESSED TO: |
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| Street Address: |
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Facsimile Number: |
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E-mail Address: |
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| Tokio Marine HCC - D&O Group |
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(860) 676-1737 |
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usclaims@tmhcc.com |
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| 8 Forest Park Drive |
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| Farmington, CT 06032 |
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| Attn: Claims Manager |
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ITEM 7. |
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RIDERS ATTACHED AT ISSUANCE: |
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USSIC 471-CA 471-101 471-802 |
IN WITNESS WHEREOF, the Insurer has caused this Bond to be signed
on this Declarations Page by its President, a Secretary and a duly
authorized representative of the Insurer.
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| Secretary |
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President |
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Authorized Representative |
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| Date:
September 1, 2022 |
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USSIC
470 (07/2011) |
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Page 1 of 1 |
U.S. TREASURY DEPARTMENT’S OFFICE OF FOREIGN
ASSETS CONTROL (“OFAC”)
ADVISORY NOTICE TO POLICYHOLDERS
No coverage is provided by this Policyholder Notice
nor can it be construed to replace any provisions of your policy.
You should read your policy and review your Declarations page for
complete information on the coverages you are provided.
This Notice provides information concerning
possible impact on your insurance coverage due to directives issued
by OFAC. Please read this Notice carefully.
The Office of Foreign Assets Control (OFAC)
administers and enforces sanctions policy, based on Presidential
declarations of “national emergency”. OFAC has identified and
listed numerous:
| |
• |
|
Terrorist organizations; and
|
as “Specially Designated Nationals and Blocked
Persons”. This list can be located on the United States Treasury’s
web site - http//www.treas.gov/ofac.
In accordance with OFAC regulations, if it is
determined that you or any other insured, or any person or entity
claiming the benefits of this insurance has violated U.S. sanctions
law or is a Specially Designated National and Blocked Person, as
identified by OFAC, this insurance will be considered a blocked or
frozen contract and all provisions of this insurance are
immediately subject to OFAC. When an insurance policy is considered
to be such a blocked or frozen contract, no payments nor premium
refunds may be made without authorization from OFAC. Other
limitations on the premiums and payments also apply.
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| IL P 001 01 04 |
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Reprinted, in part, with permission of
ISO Properties, Inc.
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Page 1 of 1 |
U.S. SPECIALTY INSURANCE COMPANY
EXCESS FINANCIAL INSTITUTION BOND
INSURING AGREEMENT: In consideration of the
payment of the premium, and in reliance upon all statements made
and information furnished to the Insurer and the issuers of the
Underlying Insurance, and subject to the Declarations and
all terms, conditions and limitations of this Bond (including any
endorsement or rider hereto), the Insurer agrees to indemnify the
Insured for loss discovered during the Bond Period
which exceeds the Underlying Insurance but is otherwise
payable thereunder. Coverage under this Bond shall apply in
conformance with the terms, conditions and limitations of the
Primary Bond (including any endorsement or rider thereto);
provided that, in the event any provision of this Bond conflicts
with any provision of the Primary Bond, the provision of
this Bond shall control.
DEFINITIONS
| A. |
Bond Period means the period set forth in
ITEM 2 of the Declarations, subject to prior termination or
cancellation in accordance with the provisions of the Primary
Bond.
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| B. |
Insured(s) means the organization(s)
designated as an insured under the Primary Bond.
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| C. |
Primary Bond means the bond designated as
such in ITEM 4 of the Declarations.
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| D. |
Underlying Insurance means all bonds
scheduled in ITEM 4 of the Declarations (including the Primary
Bond).
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CONDITIONS
| A. |
Maintenance of Underlying
Insurance
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1. |
All of the Underlying Insurance shall be
maintained during the Bond Period in full effect. In the
event the Underlying Insurance is not so maintained, the
Insurer shall not be liable under this Bond earlier or to any
greater extent than it would have been if such Underlying
Insurance had been maintained. The Insurer shall be notified in
writing as soon as practicable if any Underlying Insurance
is terminated or cancelled during the Bond Period.
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2. |
No amendment to the Primary Bond during the
Bond Period shall broaden or extend coverage under this Bond
unless the Insurer evidences its intent to follow form to such
amendment by written endorsement or rider hereto. The Insurer shall
be notified in writing as soon as practicable of any amendment to
the Primary Bond.
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| B. |
Reduction or Exhaustion of Underlying
Limits
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1. |
In the event of reduction of the applicable
Limit(s) of Liability of the Underlying Insurance, this Bond
shall continue to apply as excess insurance. In the event of
exhaustion of all applicable Limit(s) of Liability of the
Underlying Insurance, and satisfaction of the applicable
deductible specified in the Primary Bond, this Bond shall
apply as primary insurance. Such deductible shall apply to
subsequent loss under this Bond.
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2. |
If an issuer of Underlying Insurance fails
to pay covered loss thereunder for any reason, whether due to such
issuer’s insolvency or for any other reason, the Insured
shall be deemed self-insured with respect to such loss. No failure
to pay on the part of an issuer of Underlying Insurance
shall cause the Insurer to be liable under this Bond earlier or to
any greater extent than it would have been in the absence of such
failure.
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| C. |
Limits of Liability: The Single Loss Limit
of Liability set forth in ITEM 3(a) of the Declarations shall be
the Insurer’s maximum liability under this Bond for any one loss.
The Aggregate Limit of Liability set forth in ITEM 3(b) of the
Declarations shall be the Insurer’s total cumulative liability for
all amounts payable under this Bond, regardless of the number of
losses or any other circumstance. Each payment made under this Bond
shall reduce the Aggregate Limit of Liability, except when a loss
is settled by indemnity in lieu of payment. Upon exhaustion of the
Aggregate Limit of Liability, the Insurer shall have no further
obligation or liability under this Bond, regardless of when a loss
may be discovered and whether or not it was previously reported to
the Insurer. The Aggregate Limit of Liability shall not be
increased or reinstated by any recovery.
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| D. |
Notice and Proof of Loss: As a condition
precedent to coverage under this Bond, the Insureds must
give the Insurer written notice of any loss and proof of loss in
the same manner as required under the Primary Bond, except
that such notice and proof of loss must be sent to the Insurer at
the address set forth in ITEM 6 of the Declarations.
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| E. |
Amendment: This Bond cannot be amended or
assigned, and no provision of it may be waived, except by written
endorsement or rider issued to form a part of this Bond.
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USSIC 471 (07/2011)
Page 1 of 1
RIDER NUMBER: 1
CALIFORNIA AMENDATORY RIDER
To be attached to and made a part of Bond No.
64-MGU-22-A54697, issued to PIMCO Funds by U.S. Specialty Insurance
Company.
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Cancellation – Bond in Effect for 60 Days or
Less: If this Bond has been in effect for 60 days or less, and
is not a renewal of a bond previously issued by the Insurer, then
the Insurer may cancel this Bond by mailing or delivering to the
Named Insured at the address shown in ITEM 1 of the
Declarations, and to the producer of record, advance written notice
of cancellation, stating the reason for cancellation, at least:
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(a) |
10 days before the effective date of cancellation
if the Insurer cancels for:
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(i) |
non-payment of premium, or
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(ii) |
discovery of fraud by 1) the Insureds or
their representative in obtaining this insurance, or 2) the Named
Insured or its representative in pursuing a claim under this
Bond; or (b) 30 days before the effective date of cancellation if
the Insurer cancels for any other reason.
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| (2) |
Cancellation – Bond in Effect for More Than 60
Days
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(a) |
If this Bond has been in effect for more than 60
days, or if it is a renewal of a bond previously issued by the
Insurer, then this Bond may not be cancelled unless one or more of
the following events occurs after inception of the Bond:
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(i) |
non-payment of premium, including payment due on a
prior bond issued by the Insurer covering the same risks and due
during the Bond Period;
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(ii) |
discovery of fraud or material misrepresentation by
1) the Insureds or their representative in obtaining this
insurance, or 2) the Named Insured or its representative in
pursuing a claim under this Bond;
|
| |
(iii) |
judgment by a court or administrative tribunal that
the Named Insured has violated a California or federal law
having as one of its necessary elements an act that materially
increases any of the risks insured against;
|
| |
(iv) |
discovery of willful or grossly negligent acts or
omissions, or of violations of state laws or regulations
establishing safety standards, by the Named Insured or its
representative, which materially increase any of the risks insured
against;
|
| |
(v) |
failure by the Named Insured or its
representative to implement reasonable loss control requirements
that were agreed to as a condition of bond issuance or were
conditions precedent to the Insurer’s use of a particular rate or
rating plan, if that failure materially increases any of the risks
insured against;
|
| |
(vi) |
determination by the Commissioner of Insurance that
a loss of or change in the Insurer’s reinsurance covering all or
part of the risk would threaten the Insurer’s financial integrity
or solvency;
|
| |
(vii) |
determination by the Commissioner of Insurance that
continuation of coverage would place the Insurer in violation of
the laws of California or the state of the Insurer’s domicile or
would threaten the Insurer’s solvency; or
|
| |
(viii) |
change by the Named Insured or its
representative in the activities or property of the commercial or
industrial enterprise which results in a materially added,
|
|
|
|
|
|
|
USSIC 471-CA
Ed. 01/12
|
|
Page 1 of 2 |
|
|
| |
|
increased or changed risk, unless the added,
increased or changed risk is included in this Bond.
|
| |
(b) |
If this Bond has been in effect for more than 60
days, or if it is a renewal of a bond previously issued by the
Insurer, then the Insurer may cancel this Bond by mailing or
delivering to the Named Insured at the address shown in ITEM
1 of the Declarations, and to the producer of record, advance
written notice of cancellation, stating the reason for
cancellation, at least:
|
| |
(i) |
10 days before the effective date of cancellation
if the Insurer cancels for non- payment of premium or discovery of
fraud; or
|
| |
(ii) |
30 days before the effective date of cancellation
if the Insurer cancels for any other reason listed in paragraph
(2)(a) above.
|
| |
(a) |
Subject to paragraph (3)(b) below, if the Insurer
elects not to renew this Bond, then the Insurer will mail or
deliver to the Named Insured at the address shown in ITEM 1
of the Declarations, and to the producer of record, advance written
notice of non-renewal, stating the reason for non-renewal, at least
60 days but not more than 120 days before expiration of the
Bond.
|
| |
(b) |
The Insurer is not required to send notice of
non-renewal in the following situations:
|
| |
(i) |
if the Bond is transferred or renewed, without any
changes in terms, conditions or rates, to another insurer within
the same holding company as the Insurer;
|
| |
(ii) |
if the Bond has been extended for 90 days or less,
when notice already has been given in accordance with paragraph
(3)(a) above;
|
| |
(iii) |
if the Named Insured has obtained
replacement coverage or has agreed, in writing, within 60 days of
expiration of the Bond, to obtain that coverage;
|
| |
(iv) |
if the Bond Period is no more than 60 days
and the Named Insured is notified at the time of issuance
that it will not be renewed;
|
| |
(v) |
if the Named Insured requests a change in
terms or conditions or the risks covered by the Bond within 60 days
prior to expiration of the Bond; or
|
| |
(vi) |
if the Insurer has made a written offer to the
Named Insured, within the timeframe shown in paragraph
(3)(a) above, to renew the Bond under changed terms or conditions
or at a changed premium rate.
|
All other terms, conditions and limitations of this
Bond will remain unchanged.
|
|
|
|
|
|
USSIC 471-CA
Ed. 01/12
|
|
Page 2 of 2 |
|
|
RIDER NUMBER: 2
SCHEDULE OF UNDERLYING INSURANCE
To be attached to and made a part of Bond No. 64-MGU-22-A54697, issued
to PIMCO Funds by U.S. Specialty Insurance Company.
In consideration of the premium charged, it is
agreed that ITEM 4 of the Declarations is deleted and replaced with
the following:
| ITEM 4. |
SCHEDULE OF UNDERLYING INSURANCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bond Number:
|
|
Issued by:
|
|
Underlying Limits of Liability:
|
|
Deductible:
|
|
Primary Bond |
|
24157067 |
|
National Union Fire Insurance Company of
Pittsburgh, Pa. |
|
Single Loss Limit of Liability:
Aggregate Limit of Liability:
|
|
$15,000,000
$N/A |
|
$250,000 |
| 1st Excess Bond |
|
82126616 |
|
Federal Insurance Company |
|
Single Loss Limit of Liability:
Aggregate Limit of Liability:
|
|
$15,000,000
$N/A |
|
$Not
applicable |
|
2nd Excess Bond |
|
267860356 |
|
Continental Casualty Company |
|
Single Loss Limit of Liability:
Aggregate Limit of Liability:
|
|
$15,000,000
$N/A |
|
$Not applicable |
| 3rd Excess Bond |
|
106544116 |
|
Travelers Casualty and Surety Company
of America
|
|
Single Loss Limit of Liability:
Aggregate Limit of Liability:
|
|
$20,000,000
$N/A |
|
$Not
applicable |
|
4th Excess Bond |
|
BFIV-45001524-28 |
|
Berkley Regional Insurance Company |
|
Single Loss Limit of Liability:
Aggregate Limit of Liability:
|
|
$25,000,000
$N/A |
|
$Not applicable |
|
5th Excess Bond |
|
P-001-000157461-03 |
|
AXIS Insurance Company |
|
Single Loss Limit of Liability:
Aggregate Limit of Liability:
|
|
$10,000,000
$N/A |
|
$Not applicable |
All other terms, conditions and limitations of this Bond will
remain unchanged.
Complete the following only when this rider is not prepared with
the Bond or is not to be effective with the Bond.
Effective date of this
rider:
|
|
|
|
471-101
|
|
Page 1 of 1 |
|
Ed. 05/18
|
|
|
RIDER NUMBER: 3
CO-SURETY
RIDER
To be attached to and made a part of Bond No.
64-MGU-22-A54697, issued
to PIMCO Funds by U.S. Specialty Insurance Company.
In consideration of the premium charged, it is agreed that,
notwithstanding anything in this Bond
| 1. |
The following DEFINITIONS are added to this Bond:
|
| |
(a) |
Company means all issuers of this Bond that
are listed in the Schedule of Companies contained in Sub-Section 10. of the Co-Surety CONDITION.
|
| |
(b) |
Controlling Company means U.S. Specialty
Insurance Company.
|
| 2. |
CONDITIONS is amended to include the following at the
end thereof:
|
Co-Surety
| |
1. |
Each Company shall be liable only for such
proportion of any one loss under this Bond as the amount
underwritten by such Company, as specified in Sub-Section 10. of this Co-Surety CONDITION, bears to the
Aggregate Limit of Liability of this Bond, but in no event shall
any of said Companies be liable for an amount greater than
that underwritten by it.
|
| |
2. |
This Co-Surety CONDITION is subject to
CONDITION (C), Limits of Liability.
|
| |
3. |
In the absence of a request from any of said
Companies to pay premiums directly to it, premiums for this
Bond may be paid to the Controlling Company for the account
of all of said Companies.
|
| |
4. |
In the absence of a request from any of said
Companies that notice of any loss and proof of loss be given
to or filed directly with it, the giving of such notice to and the
filing of such proof with, the Controlling Company shall be
deemed to be in compliance with the conditions of this Bond for the
giving of notice of loss and the filing of proof of loss, if given
and filed in accordance with said conditions.
|
| |
5. |
The Controlling Company may give notice in
accordance with the terms of this Bond, terminating or canceling
this Bond as an entirety or as to any employee insured thereunder,
and any notice so given shall terminate or cancel the liability of
all of said Companies as an entirety or as to such employee
insured thereunder, as the case may be.
|
| |
6. |
Any Company, other than the Controlling
Company, may give notice in accordance with the terms of this
Bond, terminating or canceling the entire liability of such other
Company under this Bond or as to any employee insured
thereunder.
|
| |
7. |
In the absence of a request from any of said
Companies that notice of termination or cancellation by the
Insured of this Bond in its entirety be given to or filed
directly with it, the giving of such notice in accordance with the
terms of this Bond to the Controlling Company shall
terminate or cancel the liability of all of said Companies
as an entirety. The Insured may terminate or cancel the
entire liability of any Company, other than the
Controlling Company, under this Bond by giving notice of
such termination or
|
|
|
|
|
471-802
|
|
Page 1 of 3 |
|
Ed. 02/13
|
|
|
| |
cancellation to such other Company, and shall send copy of
such notice to the Controlling Company.
|
| |
8. |
In the event of the termination or cancellation of
this Bond as an entirety, no Company shall be liable to the
Insured for a greater proportion of any return premium due
the Insured than the amount that is underwritten by such
Company bears to the Aggregate Limit of Liability of this
Bond.
|
| |
9. |
In the event of the termination or cancellation of
this Bond as to any Company, such Company alone shall
be liable to the Insured for any return premium due the
Insured on account of such termination or cancellation. The
termination or cancellation of this Bond as to any Company,
other than the Controlling Company, shall not terminate,
cancel or otherwise affect the liability of the other
Companies under this Bond.
|
| |
10. |
SCHEDULE OF COMPANIES:
|
|
|
|
|
|
|
|
Controlling Company
|
|
|
|
Underwritten for the sum of $20,000,000
except as follows: N/A
|
|
U.S. Specialty Insurance Company
|
|
|
|
|
|
By:
|
|
|
|
|
|
|
|
Attest:
|
|
|
|
|
|
|
Company
|
|
|
|
Underwritten for the sum of $20,000,000
except as follows: N/A
|
|
Great American Insurance Company
|
|
|
|
|
|
By:
|
|
|
|
|
|
|
|
Attest:
|
|
|
|
|
|
|
Company
|
|
|
|
Underwritten for the sum of $20,000,000
|
|
Liberty Mutual Insurance Company
|
|
|
|
|
except as follows: N/ A
|
|
By:
|
|
|
|
|
|
|
|
Attest:
|
|
|
|
|
|
|
471-802
|
|
Page 2 of 3 |
|
Ed. 02/13
|
|
|
|
|
|
|
|
|
|
Company |
|
|
|
Underwritten for the sum of $15,000,000
|
|
XL Specialty Insurance Company |
|
|
|
|
except as follows: N/A
|
|
|
|
|
|
|
By: |
|
|
|
|
|
|
|
Attest: |
|
|
|
|
|
|
Company |
|
|
|
Underwritten for the sum of $15,000,000
|
|
RLI Insurance Company |
|
|
|
|
except as follows: N/A
|
|
By: |
|
|
|
|
|
|
|
Attest: |
|
|
|
|
|
|
|
Company |
|
|
|
|
|
Underwritten for the sum of $15,000,000
|
|
National Casualty Company |
|
|
|
|
except as follows: N/A
|
|
By: |
|
/s/ Andrew W. Kakol
|
|
|
|
|
|
Attest: |
|
Andrew W. Kakol
|
|
|
|
|
|
Company |
|
|
|
|
|
Underwritten for the sum of $10,000,000
|
|
ACE American Insurance Company |
|
|
|
|
except as follows: N/A
|
|
By: |
|
/s/ Kevin Ferrara
|
|
|
|
|
|
Attest: |
|
Kevin Ferrara
|
All other terms, conditions and limitations of this Bond will
remain unchanged.
Complete the following only when this rider is not prepared with
the Bond or is not to be effective with the Bond.
Effective date of this rider:
|
|
|
|
471-802
|
|
Page 3 of 3 |
|
Ed. 02/13
|
|
|
PIMCO
Assets as of 3/31/2022
|
|
|
|
|
|
|
|
|
| Fund Name |
|
Net Assets |
|
|
|
|
|
|
|
|
PCM Fund, Inc.
|
|
$ |
103,541,402.18 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO Access Income Fund
|
|
$ |
856,547,012.49 |
|
|
|
1,000,000 |
|
|
|
|
|
PIMCO California Municipal Income Fund
|
|
$ |
382,522,189.06 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO California Municipal Income Fund II
|
|
$ |
412,948,891.01 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO California Municipal Income Fund III
|
|
$ |
326,428,175.40 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Corporate & Income Opportunity Fund
|
|
$ |
1,778,660,418.42 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Corporate & Income Strategy Fund
|
|
$ |
601,691,609.10 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Dynamic Income Fund
|
|
$ |
5,123,110,538.59 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Dynamic Income Opportunities Fund
|
|
$ |
1,991,942,481.28 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Energy and Tactical Credit Opportunities Fund
|
|
$ |
788,371,011.29 |
|
|
|
1,000,000 |
|
|
|
|
|
PIMCO Global StocksPLUS® & Income
Fund
|
|
$ |
104,786,979.62 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO High Income Fund
|
|
$ |
797,025,330.58 |
|
|
|
1,000,000 |
|
|
|
|
|
PIMCO Income Strategy Fund
|
|
$ |
387,343,479.55 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Income Strategy Fund II
|
|
$ |
758,044,770.43 |
|
|
|
1,000,000 |
|
|
|
|
|
PIMCO Municipal Income Fund
|
|
$ |
492,218,038.81 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Municipal Income Fund II
|
|
$ |
1,049,347,388.27 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO Municipal Income Fund III
|
|
$ |
518,395,657.95 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO New York Municipal Income Fund
|
|
$ |
123,791,578.21 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO New York Municipal Income Fund II
|
|
$ |
192,038,606.76 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO New York Municipal Income Fund III
|
|
$ |
76,131,319.87 |
|
|
|
450,000 |
|
|
|
|
|
PIMCO Strategic Income Fund, Inc.
|
|
$ |
243,967,211.30 |
|
|
|
600,000 |
|
|
|
|
|
Closed-End Funds
Total
|
|
$ |
17,108,854,090.17 |
|
|
|
19,525,000 |
|
|
|
|
|
PIMCO 0-5 Year High Yield
Corporate Bond Index Exchange-Traded Fund
|
|
$ |
1,539,932,152.54 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO 1-5 Year U.S. TIPS
Index Exchange-Traded Fund
|
|
$ |
1,468,364,876.08 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund
|
|
$ |
740,648,952.30 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded
Fund
|
|
$ |
414,840,417.03 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Active Bond Exchange-Traded Fund
|
|
$ |
3,888,842,245.08 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO Broad U.S. TIPS Index Exchange-Traded Fund
|
|
$ |
230,463,769.32 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Enhanced Low Duration Active Exchange-Traded Fund
|
|
$ |
1,180,564,659.72 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund
|
|
$ |
175,477,438.48 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
|
|
$ |
13,201,367,834.24 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
|
|
$ |
711,588,879.24 |
|
|
|
900,000 |
|
PIMCO
Assets as of 3/31/2022
|
|
|
|
|
|
|
|
|
| Fund Name |
|
Net Assets |
|
|
|
|
|
|
|
|
PIMCO Investment Grade Corporate Bond Index Exchange-Traded
Fund
|
|
$ |
701,942,790.23 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Municipal Income Opportunities Active Exchange-Traded
Fund
|
|
$ |
38,954,735.61 |
|
|
|
350,000 |
|
|
|
|
|
PIMCO Short Term Municipal Bond Active Exchange-Traded Fund
|
|
$ |
514,319,248.22 |
|
|
|
900,000 |
|
|
|
|
|
ETF Total
|
|
$ |
24,807,307,998.09 |
|
|
|
14,700,000 |
|
|
|
|
|
Fixed Income SHares: Series TE
|
|
$ |
83,143,372.62 |
|
|
|
450,000 |
|
|
|
|
|
Fixed Income SHares: Series R
|
|
$ |
267,853,481.81 |
|
|
|
750,000 |
|
|
|
|
|
Fixed Income SHares: Series M
|
|
$ |
1,430,902,597.92 |
|
|
|
1,250,000 |
|
|
|
|
|
Fixed Income SHares: Series LD
|
|
$ |
110,300,554.60 |
|
|
|
525,000 |
|
|
|
|
|
Fixed Income SHares: Series C
|
|
$ |
1,439,353,317.59 |
|
|
|
1,250,000 |
|
|
|
|
|
FISH Total
|
|
$ |
3,331,553,324.54 |
|
|
|
4,225,000 |
|
|
|
|
|
PIMCO ABS and Short-Term Investments Portfolio
|
|
$ |
4,932,088,101.32 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO All Asset: Multi-RAE
PLUS Fund
|
|
$ |
3,949,904,881.92 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO All Asset: Multi-Real Fund
|
|
$ |
3,043,239,145.97 |
|
|
|
2,100,000 |
|
|
|
|
|
PIMCO All Asset: Multi-Short PLUS Fund
|
|
$ |
160,521,514.10 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO EM Bond and Short-Term Investments Portfolio
|
|
$ |
490,621,810.01 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO High Yield and Short-Term Investments Portfolio
|
|
$ |
520,602,939.46 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO International Portfolio
|
|
$ |
540,678,835.03 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Investment Grade Credit Bond Portfolio
|
|
$ |
4,796,512,713.37 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Long Duration Credit Bond Portfolio
|
|
$ |
28,125,753,965.24 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Low Duration Portfolio
|
|
$ |
1,999,227,615.00 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Moderate Duration Portfolio
|
|
$ |
3,553,087,987.80 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO Mortgage and Short-Term Investments Portfolio
|
|
$ |
1,412,708,315.07 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO Municipal Portfolio
|
|
$ |
137,030,411.68 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO Real Return Portfolio
|
|
$ |
58,159,553.65 |
|
|
|
400,000 |
|
|
|
|
|
PIMCO Sector Fund Series – I
|
|
$ |
62,545,523.00 |
|
|
|
400,000 |
|
|
|
|
|
PIMCO Short Asset Portfolio
|
|
$ |
5,418,252,358.71 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Short-Term Floating NAV Portfolio II
|
|
$ |
15,046,834,609.70 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Short-Term Floating NAV Portfolio III
|
|
$ |
11,832,404,884.52 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Short-Term Portfolio
|
|
$ |
346,038,959.45 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO U.S. Government and Short-Term Investments Portfolio
|
|
$ |
1,972,676,798.22 |
|
|
|
1,500,000 |
|
|
|
|
|
PAPS Total
|
|
$ |
88,398,890,923.22 |
|
|
|
31,175,000 |
|
PIMCO
Assets as of 3/31/2022
|
|
|
|
|
|
|
|
|
| Fund Name |
|
Net Assets |
|
|
|
|
|
|
|
|
PIMCO Dividend and Income Fund
|
|
$ |
192,644,419.96 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO RAE Emerging Markets Fund
|
|
$ |
1,505,012,090.54 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO RAE Global ex-US
Fund
|
|
$ |
91,108,349.69 |
|
|
|
450,000 |
|
|
|
|
|
PIMCO RAE Global Fund
|
|
$ |
266,137,636.95 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO RAE International Fund
|
|
$ |
697,803,028.65 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO RAE US Fund
|
|
$ |
1,084,401,400.40 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO RAE US Small Fund
|
|
$ |
408,995,806.46 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2025 Fund
|
|
$ |
272,582,938.25 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2030 Fund
|
|
$ |
314,969,083.85 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2035 Fund
|
|
$ |
277,735,623.10 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2040 Fund
|
|
$ |
286,880,730.49 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2045 Fund
|
|
$ |
259,824,863.20 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2050 Fund
|
|
$ |
257,038,788.11 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2055 Fund
|
|
$ |
169,274,945.66 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO REALPATH® Blend 2060 Fund
|
|
$ |
21,874,990.57 |
|
|
|
250,000 |
|
|
|
|
|
PIMCO REALPATH® Blend Income Fund
|
|
$ |
260,179,957.30 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF
|
|
$ |
91,499,391.25 |
|
|
|
450,000 |
|
|
|
|
|
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
|
|
$ |
82,742,337.04 |
|
|
|
450,000 |
|
|
|
|
|
PIMCO RAFI Dynamic Multi-Factor International Equity ETF
|
|
$ |
91,152,270.19 |
|
|
|
450,000 |
|
|
|
|
|
PIMCO RAFI ESG U.S. ETF
|
|
$ |
30,565,261.20 |
|
|
|
300,000 |
|
|
|
|
|
PIMCO EqS Total
|
|
$ |
6,662,423,912.86 |
|
|
|
13,950,000 |
|
|
|
|
|
PIMCO StocksPLUS® Global Portfolio
|
|
$ |
224,786,287.15 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO EqS VIT Total
|
|
$ |
224,786,287.15 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO All Asset All Authority Fund
|
|
$ |
3,116,298,350.44 |
|
|
|
2,100,000 |
|
|
|
|
|
PIMCO All Asset Fund
|
|
$ |
16,452,374,491.84 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO California Intermediate Municipal Bond Fund
|
|
$ |
220,612,658.63 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO California Municipal Bond Fund
|
|
$ |
114,739,799.10 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO California Municipal Intermediate Value Fund
|
|
$ |
66,226,129.06 |
|
|
|
400,000 |
|
|
|
|
|
PIMCO California Municipal Opportunistic Value Fund
|
|
$ |
204,928,119.86 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO California Short Duration Municipal Income Fund
|
|
$ |
155,015,633.21 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Climate Bond Fund
|
|
$ |
18,495,824.39 |
|
|
|
225,000 |
|
|
|
|
|
PIMCO CommoditiesPLUS® Strategy Fund
|
|
$ |
4,126,309,988.17 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO CommodityRealReturn Strategy Fund®
|
|
$ |
9,960,449,374.60 |
|
|
|
2,500,000 |
|
PIMCO
Assets as of 3/31/2022
|
|
|
|
|
|
|
|
|
| Fund Name |
|
Net Assets |
|
|
|
|
|
|
|
|
PIMCO Credit Opportunities Bond Fund
|
|
$ |
385,696,341.77 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Diversified Income Fund
|
|
$ |
4,696,385,193.30 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Dynamic Bond Fund
|
|
$ |
3,756,313,428.64 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO Emerging Markets Bond Fund
|
|
$ |
3,675,953,035.33 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO Emerging Markets Corporate Bond Fund
|
|
$ |
118,912,326.80 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO Emerging Markets Currency and Short-Term Investments Fund
|
|
$ |
608,066,054.74 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Emerging Markets Full Spectrum Bond Fund
|
|
$ |
267,376,601.93 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Emerging Markets Local Currency and Bond Fund
|
|
$ |
2,457,163,284.55 |
|
|
|
1,700,000 |
|
|
|
|
|
PIMCO ESG Income Fund
|
|
$ |
196,361,592.60 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Extended Duration Fund
|
|
$ |
732,427,145.95 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Global Advantage® Strategy Bond Fund
|
|
$ |
317,680,058.08 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Global Bond Opportunities Fund (U.S. Dollar-Hedged)
|
|
$ |
887,015,561.61 |
|
|
|
1,000,000 |
|
|
|
|
|
PIMCO Global Bond Opportunities Fund (Unhedged)
|
|
$ |
190,293,346.89 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Global Core Asset Allocation Fund
|
|
$ |
333,455,017.43 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO GNMA and Government Securities Fund
|
|
$ |
1,196,939,237.01 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO Government Money Market Fund
|
|
$ |
1,252,415,352.14 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO High Yield Fund
|
|
$ |
9,544,181,579.43 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO High Yield Municipal Bond Fund
|
|
$ |
2,801,299,210.02 |
|
|
|
1,900,000 |
|
|
|
|
|
PIMCO High Yield Spectrum Fund
|
|
$ |
334,308,427.74 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Income Fund
|
|
$ |
132,506,475,352.66 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Inflation Response Multi-Asset Fund
|
|
$ |
2,623,699,915.47 |
|
|
|
1,700,000 |
|
|
|
|
|
PIMCO International Bond Fund (U.S. Dollar-Hedged)
|
|
$ |
12,362,528,374.65 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO International Bond Fund (Unhedged)
|
|
$ |
1,375,565,313.27 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO Investment Grade Credit Bond Fund
|
|
$ |
15,911,815,832.50 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Long Duration Total Return Fund
|
|
$ |
3,675,932,610.24 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO Long-Term Credit Bond Fund
|
|
$ |
3,593,002,416.18 |
|
|
|
2,300,000 |
|
|
|
|
|
PIMCO Long-Term Real Return Fund
|
|
$ |
416,962,969.64 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Long-Term U.S. Government Fund
|
|
$ |
657,143,756.10 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Low Duration Credit Fund (FKA PIMCO Senior Floating Rate
Fund)
|
|
$ |
431,631,206.44 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Low Duration ESG Fund
|
|
$ |
440,298,670.97 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Low Duration Fund
|
|
$ |
8,949,852,333.19 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Low Duration Fund II
|
|
$ |
348,146,652.37 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Low Duration Income Fund
|
|
$ |
11,082,060,785.96 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Moderate Duration Fund
|
|
$ |
1,402,019,068.06 |
|
|
|
1,250,000 |
|
PIMCO
Assets as of 3/31/2022
|
|
|
|
|
|
|
|
|
| Fund Name |
|
Net Assets |
|
|
|
|
|
|
|
|
PIMCO Mortgage Opportunities and Bond Fund
|
|
$ |
7,697,352,966.16 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Mortgage-Backed Securities Fund
|
|
$ |
195,983,356.70 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Municipal Bond Fund
|
|
$ |
1,948,605,190.59 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO National Intermediate Municipal Bond Fund
|
|
$ |
183,603,454.14 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO National Municipal Intermediate Value Fund
|
|
$ |
212,764,794.22 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO National Municipal Opportunistic Value Fund
|
|
$ |
204,393,736.01 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO New York Municipal Bond Fund
|
|
$ |
603,577,107.13 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Preferred and Capital Securities Fund
|
|
$ |
2,267,464,365.62 |
|
|
|
1,700,000 |
|
|
|
|
|
PIMCO RAE Fundamental Advantage PLUS Fund
|
|
$ |
679,563,921.77 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO RAE PLUS EMG Fund
|
|
$ |
201,626,308.67 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO RAE PLUS Fund
|
|
$ |
1,377,865,013.39 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO RAE PLUS International Fund
|
|
$ |
135,903,534.14 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO RAE PLUS Small Fund
|
|
$ |
213,910,973.03 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO RAE Worldwide Long/Short PLUS Fund
|
|
$ |
728,709,875.23 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Real Return Fund
|
|
$ |
11,987,003,116.95 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO RealEstateRealReturn Strategy Fund
|
|
$ |
1,294,278,831.54 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO Short Asset Investment Fund
|
|
$ |
3,258,682,068.57 |
|
|
|
2,100,000 |
|
|
|
|
|
PIMCO Short Duration Municipal Income Fund
|
|
$ |
491,144,331.50 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Short-Term Fund
|
|
$ |
16,778,189,315.26 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO StocksPLUS® Absolute Return
Fund
|
|
$ |
2,385,662,370.53 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO StocksPLUS® Fund
|
|
$ |
2,367,161,185.05 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO StocksPLUS® International Fund
(U.S. Dollar-Hedged)
|
|
$ |
2,013,436,376.15 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO StocksPLUS® International Fund
(Unhedged)
|
|
$ |
369,784,699.18 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO StocksPLUS® Long Duration Fund
|
|
$ |
1,288,619,904.03 |
|
|
|
1,250,000 |
|
|
|
|
|
PIMCO StocksPLUS® Short Fund
|
|
$ |
131,583,602.91 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO StocksPLUS® Small Fund
|
|
$ |
1,616,900,359.59 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Strategic Bond Fund
|
|
$ |
144,081,425.71 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO Total Return ESG Fund
|
|
$ |
2,501,247,424.67 |
|
|
|
1,900,000 |
|
|
|
|
|
PIMCO Total Return Fund
|
|
$ |
64,952,693,032.84 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO Total Return Fund II
|
|
$ |
618,663,995.38 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Total Return Fund IV
|
|
$ |
330,199,033.64 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO TRENDS Managed Futures Strategy Fund
|
|
$ |
2,754,618,962.08 |
|
|
|
1,900,000 |
|
|
|
|
|
PIMCO Funds Total
|
|
$ |
395,900,103,055.34 |
|
|
|
101,675,000 |
|
PIMCO
Assets as of 3/31/2022
|
|
|
|
|
|
|
|
|
| Fund Name |
|
Net Assets |
|
|
|
|
|
|
|
|
PIMCO All Asset Portfolio
|
|
$ |
339,503,296.90 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Balanced Allocation Portfolio
|
|
$ |
206,354,183.63 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO CommodityRealReturn® Strategy Portfolio
|
|
$ |
655,793,248.08 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Dynamic Bond Portfolio
|
|
$ |
74,560,873.25 |
|
|
|
450,000 |
|
|
|
|
|
PIMCO Emerging Markets Bond Portfolio
|
|
$ |
222,877,778.47 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Global Bond Opportunities Portfolio (Unhedged)
|
|
$ |
129,263,296.46 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO Global Core Bond (Hedged) Portfolio
|
|
$ |
119,209,588.30 |
|
|
|
525,000 |
|
|
|
|
|
PIMCO Global Diversified Allocation Portfolio
|
|
$ |
208,930,053.42 |
|
|
|
600,000 |
|
|
|
|
|
PIMCO Global Managed Asset Allocation Portfolio
|
|
$ |
398,898,733.46 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO High Yield Portfolio
|
|
$ |
639,215,767.47 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Income Portfolio
|
|
$ |
520,133,784.82 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO International Bond Portfolio (Unhedged)
|
|
$ |
28,318,438.36 |
|
|
|
300,000 |
|
|
|
|
|
PIMCO International Bond Portfolio (U.S. Dollar-Hedged)
|
|
$ |
661,239,322.40 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Long-Term U.S. Government Portfolio
|
|
$ |
476,438,772.65 |
|
|
|
750,000 |
|
|
|
|
|
PIMCO Low Duration Portfolio
|
|
$ |
1,780,946,143.59 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Real Return Portfolio
|
|
$ |
1,868,069,012.02 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Short-Term Portfolio
|
|
$ |
528,848,522.29 |
|
|
|
900,000 |
|
|
|
|
|
PIMCO Total Return Portfolio
|
|
$ |
5,685,582,679.86 |
|
|
|
2,500,000 |
|
|
|
|
|
PIMCO VIT Total
|
|
$ |
14,544,183,495.43 |
|
|
|
15,850,000 |
|
|
|
|
|
PIMCO California Flexible Municipal Income Fund
|
|
$ |
25,189,572.00 |
|
|
|
300,000 |
|
|
|
|
|
PIMCO Flexible Credit Income Fund
|
|
$ |
3,029,893,731.97 |
|
|
|
2,100,000 |
|
|
|
|
|
PIMCO Flexible Emerging Markets Income Fund
|
|
$ |
26,856,629.17 |
|
|
|
300,000 |
|
|
|
|
|
PIMCO Flexible Municipal Income Fund
|
|
$ |
1,596,124,396.98 |
|
|
|
1,500,000 |
|
|
|
|
|
PIMCO Interval Funds Total
|
|
$ |
4,678,064,330.12 |
|
|
|
4,200,000 |
|
|
|
|
|
PIMCO Capital Solutions BDC Corp.
|
|
$ |
147,220,097.00 |
|
|
|
525,000 |
|
|
|
|
|
BDC Total
|
|
$ |
147,220,097.00 |
|
|
|
525,000 |
|
|
|
|
|
Total
|
|
$ |
555,803,387,513.92 |
|
|
$ |
206,425,000.00 |
|
CERTIFICATE OF SECRETARY
PIMCO FUNDS
PIMCO VARIABLE INSURANCE TRUST
PIMCO ETF TRUST
PIMCO EQUITY SERIES
PIMCO EQUITY SERIES VIT
Regarding Fidelity Bond
I, Ryan G. Leshaw do hereby certify that I am duly elected,
qualified and acting as Chief Legal Officer and Secretary of the
PIMCO Funds, a Massachusetts business trust, and the PIMCO Variable
Insurance Trust, the PIMCO ETF Trust, the PIMCO Equity Series and
the PIMCO Equity Series VIT, each a Delaware statutory trust (the
“Trusts”), and I do hereby further certify that the attached is a
true and correct copy of a resolution adopted at meetings of the
Boards of Trustees of the Trusts held on August 23-24, 2022, with respect
to PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust,
PIMCO Equity Series and PIMCO Equity Series VIT, at which a quorum
was present, by a majority of the Trustees, including a majority of
the Trustees who are not “interested persons” as defined in the
Investment Company Act of 1940, as amended, of each of the Trusts,
and that said resolution has not been revoked or amended and is now
in full force and effect.
IN WITNESS WHEREOF, I have executed this certificate as
Secretary of said Trusts on the 13th day of October
2022.
|
|
| /s/ Ryan
G. Leshaw |
| Ryan G. Leshaw |
| Chief Legal Officer and Secretary of the
Trusts |
CERTIFICATE OF SECRETARY
PIMCO Managed Accounts Trust (PMAT)
PCM Fund, Inc. (PCM)
PIMCO Access Income Fund (PAXS)
PIMCO California Flexible Municipal Income Fund
(CAFLX)
PIMCO California Municipal Income Fund (PCQ)
PIMCO California Municipal Income Fund II (PCK)
PIMCO California Municipal Income Fund III (PZC)
PIMCO Corporate & Income Opportunity Fund
(PTY)
PIMCO Corporate & Income Strategy Fund (PCN)
PIMCO Dynamic Income Fund (PDI)
PIMCO Dynamic Income Opportunities Fund (PDO)
PIMCO Energy and Tactical Credit Opportunities Fund
(NRGX)
PIMCO Flexible Credit Income Fund (PFLEX)
PIMCO Flexible Emerging Markets Income Fund
(EMFLX)
PIMCO Flexible Municipal Income Fund (PMFLX)
PIMCO Global StocksPLUS & Income Fund (PGP)
PIMCO High Income Fund (PHK)
PIMCO Income Strategy Fund (PFL)
PIMCO Income Strategy Fund II (PFN)
PIMCO Municipal Income Fund (PMF)
PIMCO Municipal Income Fund II (PML)
PIMCO Municipal Income Fund III (PMX)
PIMCO New York Municipal Income Fund (PNF)
PIMCO New York Municipal Income Fund II (PNI)
PIMCO New York Municipal Income Fund III (PYN)
PIMCO Strategic Income Fund, Inc. (RCS)
(each, a “Fund” and collectively, the
“Funds”)
Regarding Fidelity Bond
The undersigned, being the duly elected, qualified and acting
Secretary of the above referenced Funds, each a business trust
organized under the laws of the Commonwealth of Massachusetts
(except PCM and RCS, which are Maryland corporations), hereby
certifies that attached hereto is a true and complete copy of
resolutions that were approved in substantially the form attached
hereto by the Boards of Trustees/Directors of the Funds at meetings
held September 21, 2022 at each of which a quorum was present
and voted in favor thereof, and that said resolutions have not been
revoked or amended and are now in full force and effect.
IN WITNESS WHEREOF, the undersigned has executed this certificate
as Secretary of the above mentioned Funds on this 13th day of October
2022.
|
|
| /s/
Wu-Kwan Kit |
| Wu-Kwan
Kit |
| Secretary |
CERTIFICATE OF SECRETARY
PIMCO FLEXIBLE REAL ESTATE INCOME FUND
PIMCO CAPITAL SOLUTIONS BDC CORP.
Regarding Fidelity Bond
The undersigned, being the duly elected, qualified and acting
Secretary of the PIMCO Flexible Real Estate Income Fund (the
“Fund”), a Delaware statutory trust, and PIMCO Capital Solutions
BDC Corp. (the “Company”), a Delaware corporation, hereby certifies
that attached hereto is a true and complete copy of resolutions
that were approved in substantially the form attached hereto by the
Boards of Trustees/Directors of the Fund and Company, respectively,
at meetings held on June 22, 2022, at which a quorum was
present and voted in favor thereof, and that said resolutions have
not been revoked or amended and are now in full force and
effect.
IN WITNESS WHEREOF, the undersigned has executed this
certificate as Secretary of the Fund and the Company, respectively,
on this 13th
day of October 2022.
|
|
|
| Wu-Kwan Kit |
| Secretary |
PIMCO Funds, PIMCO Variable Insurance Trust,
PIMCO ETF Trust, PIMCO Equity
Series and PIMCO Equity Series VIT (the
“Trusts”)
Resolutions Adopted by the Board of Trustees
RESOLVED, that the Joint Fidelity Bond, for
the term July 1, 2022 to July 1, 2023, with the coverage and
premiums as described at the meeting be, and hereby is, ratified
and approved on behalf of the Trusts; and further
RESOLVED, that the form of Agreement Among
Joint Insureds by and among the Trusts and certain other funds
advised or managed by PIMCO insured under the Joint Fidelity Bond
be, and hereby is, approved, and the appropriate officers of the
Trusts are hereby authorized to enter into the Agreement Among
Joint Insureds on behalf of each respective fund; and further
RESOLVED, that the appropriate officers of
the Trusts be, and they hereby are, authorized to file a copy of
the Joint Fidelity Bond with the Securities and Exchange Commission
within ten days after receipt of the executed endorsement to the
Joint Fidelity Bond, together with (1) a copy of the resolution of
the Board approving the amount, type, form, and coverage of the
Joint Fidelity Bond (2) a statement showing the amount of a single
insured bond which each fund would have provided and maintained had
it not been named as an insured under the Joint Fidelity Bond, (3)
a statement as to the period for which premiums have been paid, and
(4) a copy of the Agreement Among Joint Insureds; and further
PIMCO Managed Accounts Trust (PMAT)
PCM Fund, Inc. (PCM)
PIMCO Access Income Fund (PAXS)
PIMCO California Flexible Municipal Income Fund
(CAFLX)
PIMCO California Municipal Income Fund
(PCQ)
PIMCO California Municipal Income Fund II
(PCK)
PIMCO California Municipal Income Fund III
(PZC)
PIMCO Corporate & Income Opportunity Fund
(PTY)
PIMCO Corporate & Income Strategy Fund
(PCN)
PIMCO Dynamic Income Fund (PDI)
PIMCO Dynamic Income Opportunities Fund
(PDO)
PIMCO Energy and Tactical Credit Opportunities
Fund (NRGX)
PIMCO Flexible Credit Income Fund (PFLEX)
PIMCO Flexible Emerging Markets Income Fund
(EMFLX)
PIMCO Flexible Municipal Income Fund
(PMFLX)
PIMCO Global StocksPLUS & Income Fund
(PGP)
PIMCO High Income Fund (PHK)
PIMCO Income Strategy Fund (PFL)
PIMCO Income Strategy Fund II (PFN)
PIMCO Municipal Income Fund (PMF)
PIMCO Municipal Income Fund II (PML)
PIMCO Municipal Income Fund III (PMX)
PIMCO New York Municipal Income Fund
(PNF)
PIMCO New York Municipal Income Fund II
(PNI)
PIMCO New York Municipal Income Fund III
(PYN)
PIMCO Strategic Income Fund, Inc. (RCS)
Resolutions Adopted by the Board of
Trustees/Directors
|
|
|
| VOTED: |
|
That, after considering all relevant factors, the action of the
Funds in joining each other and certain open-end funds and other
funds that are managed by PIMCO in a Joint Investment Company
Blanket Bond (the “Investment Company Blanket Bond”) issued by a
consortium of insurers covering larceny and embezzlement and
certain other acts, with an aggregate coverage amount for the
period of July 1, 2022 to July 1, 2023 of $190 million, be and it
is hereby ratified and approved. (All Funds)
|
|
|
| VOTED: |
|
That the insurers included in the consortium of insurers referenced
in the foregoing Vote be, and they hereby are, ratified and
approved. (All Funds)
|
|
|
| VOTED: |
|
That pursuant to Rule 17g-1 under the 1940 Act, the officers of the
Funds be, and they each hereby are, designated as an agent for the
Funds to make the filings and give the notices required by
subparagraph (g) of said Rule with respect to the Investment
Company Blanket Bond. (All Funds)
|
|
|
|
|
VOTED:
|
|
That the appropriate officers of the Funds be, and they hereby are,
authorized to file a copy of the Investment Company Blanket Bond
with the SEC within 10 days after receipt of the executed
endorsement to the Investment Company Blanket Bond, together with
(1) a copy of the resolution of the Board approving the amount,
type, form, and coverage of the Investment Company Blanket Bond,
(2) a statement showing the amount of a single insured bond which
each Fund would have provided and maintained had it not been named
as an insured under the Investment Company Blanket Bond, (3) a
statement as to the period for which premiums have been paid, and
(4) a copy of the Agreement Among Joint Insureds (as defined
below). (All Funds)
|
|
|
|
VOTED:
|
|
That the form, terms, and provisions of the agreement with the
other parties to the Investment Company Blanket Bond, stating that
in the event recovery is received under the bond as a result of the
loss of any Fund and of one or more of the other named insured
parties, the other Funds shall receive an equitable and
proportionate share of recovery, such share being at least equal to
the amount it would have received had it provided and maintained a
single insured bond with the minimum coverage required under Rule
17g-1 under the 1940 Act (the “Agreement Among Joint Insureds”), as
described to this Meeting, be, and they hereby are, ratified and
approved, and that the action of the Funds in entering into the
Agreement Among Joint Insureds be, and it hereby is, ratified and
approved. (All Funds)
|
|
|
| VOTED: |
|
That the form and amount of the Investment Company Blanket Bond,
after consideration of all relevant factors including each Fund’s
aggregate assets to which persons covered by the bond have access,
the type and terms of arrangements made for custody and safekeeping
of assets, and the nature of the securities held, with such changes
as counsel may deem necessary, be and they hereby are, ratified and
approved. (All Funds)
|
|
|
|
VOTED:
|
|
That each Fund’s participation in the Investment Company Blanket
Bond described above be, and it hereby is, determined to be in the
best interest of each Fund. (All Funds)
|
Resolutions Adopted by the Board of
Trustees/Directors
PIMCO Flexible Real Estate Income Fund
PIMCO Capital Solutions BDC Corp.
|
|
|
| VOTED: |
|
That the officers of the Funds be, and each of
them hereby is, authorized to obtain the appropriate Investment
Company Blanket Bond coverage, as required by the 1940 Act pursuant
to Rule 17g-l. |
|
|
| VOTED: |
|
That the officers of the Funds be, and each of
them hereby is, authorized to enter into joint insureds agreements
on behalf of the Funds, as required by the 1940 Act pursuant to
Rule 17g-1. |
AGREEMENT AMONG JOINT INSUREDS
THIS AGREEMENT AMONG JOINT INSUREDS made as of
July 1, 2022 by and among PIMCO Capital Solutions BDC Corp.,
PIMCO Flexible Real Estate Income Fund and each of the PIMCO
Sponsored Open-End Funds, PIMCO Sponsored Closed-End and PIMCO
Sponsored Interval Funds listed in Exhibit I (each a “Trust”), on
behalf of each Trust’s respective series of shares, as applicable
(the “Funds”).
WHEREAS, each of the Trusts and Funds has retained
Pacific Investment Management Company LLC (“PIMCO”) as investment
adviser;
WHEREAS, the Trusts and Funds are or will be named
as insureds under a joint Investment Company Blanket Bond (the
“Bond”) issued by National Union Fire Insurance Company of
Pittsburgh, Pa, Federal Insurance Company, Continental Casualty
Insurance Company, Travelers Casualty & Surety Company of
America, Berkley Regional Insurance Company, Axis Insurance
Company, U.S. Specialty Insurance Company, Great American Insurance
Company, Liberty Mutual Insurance Company, XL Specialty Insurance
Company, RLI Insurance Company, National Casualty Company and ACE
American Insurance Company (collectively, the “Insurers”);
WHEREAS, the Trusts desire to establish
(i) the basis on which additional investment companies for
which PIMCO may hereafter act as investment adviser or investment
manager may be added as named insureds under the Bond, and
(ii) the criteria by which recoveries under the Bond shall be
allocated among the parties;
NOW, THEREFORE, it is agreed as follows:
1. If the
Insurers are willing without additional premium to add, as an
insured under the Bond, any investment company not listed at the
head of this agreement or in Exhibit I for which PIMCO hereafter is
investment adviser or investment manager, which may be included
in
the Bond pursuant to Rule 17g-1(b) under the
Investment Company Act of 1940, as amended, and the rules and
regulations thereunder (the “Act”), the Trusts agree (a) that
such addition may be made, provided that those trustees of each
Trust who are not “interested persons” of such Trust shall approve
such addition, and (b) that such investment company may become
a party to this agreement and be included within the terms “Trust,”
“Fund,” or “party,” provided that in each case such investment
company shall have executed and delivered to the Trusts its written
agreement to become a party hereto and to be bound by the terms of
this Agreement.
2. In the event
that the claims of loss of two or more insureds under the Bond are
so related that the Insurers are entitled to assert that the claims
must be aggregated, each Trust or Fund, as applicable, shall
receive an equitable and proportionate share of the recovery, but
at least equal to the amount it would have received had it provided
and maintained a single insured bond with the minimum coverage
required under Rule 17g-1 under the Act.
3. For the
entities organized as trusts, a copy of the Agreement and
Declaration of Trust or Trust Instrument of each Trust is on file
with the Secretary of State or Secretary of the Commonwealth of the
state or commonwealth in which such Trust is organized, and notice
is hereby given that this instrument is executed on behalf of the
Trustees of each Trust as Trustees and not individually and that
the obligations under this instrument are not binding upon any of
the Trustees or holders of shares of beneficial interest of any
Trust or Fund individually but are binding only upon the respective
assets and property of each Trust and Fund.
2
IN WITNESS WHEREOF the parties have caused these
presents to be executed by their officers hereunto duly authorized
all as of the day and year first above written.
|
|
|
|
|
|
|
|
|
| PIMCO Capital Solutions BDC Corp. |
|
|
|
PIMCO Flexible Real Estate Income
Fund |
|
|
|
|
|
| By: |
|
/s/ John W. Lane
|
|
|
|
By: |
|
/s/ Eric D. Johnson
|
|
|
John W. Lane |
|
|
|
|
|
Eric D. Johnson |
|
|
President |
|
|
|
|
|
President |
|
|
|
|
| Each of the PIMCO Sponsored
Open-End, |
|
|
|
|
|
|
| PIMCO
Sponsored Closed-End Funds
and |
|
|
|
|
|
 |
| PIMCO Sponsored Interval Funds listed
on |
|
|
|
|
| Exhibit I (each individually and not
jointly) |
|
|
|
|
|
|
|
|
|
| By: |
|
/s/ Eric D. Johnson
|
|
|
|
|
|
|
|
|
Eric D. Johnson |
|
|
|
|
|
|
|
|
President |
|
|
|
|
|
|
3
Exhibit I
PIMCO Sponsored Open-End Funds
PIMCO Equity Series
PIMCO Equity Series VIT
PIMCO ETF Trust
PIMCO Funds
PIMCO Managed Accounts Trust
PIMCO Variable Insurance Trust
PIMCO Sponsored Closed-End Funds
PCM Fund, Inc. (PCM)
PIMCO Access Income Fund (PAXS)
PIMCO California Municipal Income Fund (PCQ)
PIMCO California Municipal Income Fund II (PCK)
PIMCO California Municipal Income Fund III (PZC)
PIMCO Corporate & Income Opportunity Fund (PTY)
PIMCO Corporate & Income Strategy Fund (PCN)
PIMCO Dynamic Income Fund (PDI)
PIMCO Dynamic Income Opportunities Fund (PDO)
PIMCO Energy and Tactical Credit Opportunities Fund (NRGX)
PIMCO Global StocksPLUS & Income Fund (PGP)
PIMCO High Income Fund (PHK)
PIMCO Income Strategy Fund (PFL)
PIMCO Income Strategy Fund II (PFN)
PIMCO Municipal Income Fund (PMF)
PIMCO Municipal Income Fund II (PML)
PIMCO Municipal Income Fund III (PMX)
PIMCO New York Municipal Income Fund (PNF)
PIMCO New York Municipal Income Fund II (PNI)
PIMCO New York Municipal Income Fund III (PYN)
PIMCO Strategic Income Fund, Inc. (RCS)
PIMCO Sponsored Interval Funds
PIMCO California Flexible Municipal Income Fund (CAFLX)
PIMCO Flexible Credit Income Fund (PFLEX)
PIMCO Flexible Emerging Markets Income Fund (EMFLX)
PIMCO Flexible Municipal Income Fund (PMFLX)
4
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