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Pimco Alters Income, Opportunity Funds

Pacific Investment Management Co. is making changes to its Pimco Corporate Income Fund and Pimco Corporate Opportunity Fund.

Pacific Investment Management Co. (Pimco) is making changes to its Pimco Corporate Income Fund (PCN) and Pimco Corporate Opportunity Fund (PTY). PCN will be rebranded to Pimco Corporate & Income Strategy Fund and PTY will be renamed to Pimco Corporate & Income Opportunity Fund.

The changes will take effect on or about December 1, following 60 days’ notice to fund shareholders. Each product will also withdraw its current non-fundamental investment policy, under normal market conditions, to contribute to at least 80 percent of its total assets to a diversified portfolio of U.S. dollar-denominated corporate debt obligations of varying maturities and other corporate income-producing securities.

Click here for the release from Business Wire.

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