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.