PIMCO Canada Completes Fund Mergers, Enhancing Investment Options

PIMCO Canada Announces Successful Fund Mergers

PIMCO Canada Corp. is excited to share that it has successfully completed the planned reorganization of several of its closed-end funds. This strategic move involves the merging of the PIMCO Tactical Income Fund, PIMCO Tactical Income Opportunities Fund, and PIMCO Multi-Sector Income Fund into the PIMCO Monthly Enhanced Income Fund. This is an important step aimed at enhancing the overall value for investors.

Details of the Mergers

Under the recent changes, PIMCO Monthly Enhanced Income Fund acquired all outstanding units of the aforementioned funds in exchange for its own Class A units. The exchange ratio for these swaps was determined based on the relative net asset values of the respective funds, ensuring that unitholders were adequately compensated for their investments. Each fund's unitholder received a specified number of PMEI Units that corresponded to the units held in their previous fund.

Exchange Ratios Explained

The Mergers led to a total issuance of approximately 79,688,842 PMEI Units, which have been made available on the Toronto Stock Exchange. The details of the exchange ratios are significant as they provide insights into how investors' previous holdings were transitioned into the new fund structure:

PIMCO Tactical Income Fund (Ticker: PTI)

Exchange Ratio: 0.74905

PIMCO Tactical Income Opportunities Fund (Ticker: PTO)

Exchange Ratio: 0.82962

PIMCO Multi-Sector Income Fund (Ticker: PIX)

Exchange Ratio: 0.89435

Benefits of the Mergers

This merger is designed not only to simplify the investment landscape for current unitholders but also to enhance the overall offering of investment solutions available under the PIMCO umbrella. With a focus on efficiency and improved performance, PIMCO Canada aims to maximize returns for its clients amidst varying market conditions.

Understanding PIMCO’s Market Position

PIMCO is recognized as one of the leading fixed-income investment managers globally, establishing itself in 1971. The firm has continuously evolved its strategies to meet the changing demands of its clients, offering innovative investment solutions tailored to diverse needs. With more than 2,500 professionals and a commitment to understanding market trends, PIMCO is well-equipped to navigate fluctuating economic landscapes.

Contact and Additional Information

PIMCO Canada continuous to prioritize transparency and communication with its investors. For inquiries regarding the recent mergers or any other investment questions, please reach out directly to the media relations team:

PIMCO Canada Corp.
199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2
Phone: 416-368-3350

Frequently Asked Questions

What was the purpose of the PIMCO fund mergers?

The primary goal was to streamline investment options for clients and enhance value through improved fund efficiencies.

How were the exchange ratios determined?

The exchange ratios were calculated based on the relative net asset values of each fund involved in the mergers.

What are the new tickers for the funds after the mergers?

The tickers for the merged entities include PTI for PIMCO Tactical Income Fund, PTO for PIMCO Tactical Income Opportunities Fund, and PIX for PIMCO Multi-Sector Income Fund.

Who can I contact for more information about PIMCO funds?

For details on the fund operations or performances, contact PIMCO Canada’s media relations team at 416-368-3350.

What should I know about investing in these funds?

Investors should be aware that while the funds are designed to deliver returns, all investments carry risks and past performance is not indicative of future results.

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