TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) -- PIMCO Canada Corp. (“PIMCO Canada”) is pleased to announce that the previously announced reorganization of PIMCO Tactical Income Fund (TSX: PTI.UN), PIMCO Tactical Income Opportunities Fund (TSX: PTO.UN) and PIMCO Multi-Sector Income Fund (TSX: PIX.UN) (collectively, the “Funds”) with PIMCO Monthly Enhanced Income Fund (“PMEI”) (the “Mergers”) was completed following the close of business on December 20, 2024.
Pursuant to the Mergers, PMEI acquired all of the outstanding units of each Fund in exchange for Class A units (the “PMEI Units”) of PMEI. Each unitholder of each Fund received, as of the close of business on December 20, 2024, such number of PMEI Units as is equal to the number of units of the applicable Fund held multiplied by the exchange ratio noted in the table below (the “Exchange Ratios”). The Exchange Ratios were calculated based on the relative net asset values of the units of each Fund and the PMEI Units.
| Fund | Ticker | Exchange Ratio |
| PIMCO Tactical Income Fund | PTI | 0.74905 |
| PIMCO Tactical Income Opportunities Fund | PTO | 0.82962 |
| PIMCO Multi-Sector Income Fund | PIX | 0.89435 |
As a result of the Mergers, PMEI issued an aggregate of 79,688,842 PMEI Units, which are listed on the Toronto Stock Exchange under the symbol PMEI.UN.
About PIMCO
PIMCO is one of the world’s premier fixed income investment managers. With its launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, the firm continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today PIMCO has offices across the globe and 2,500+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz SE, a leading global diversified financial services provider.
Forward-Looking Statements
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “anticipate”, “will” and similar expressions to the extent they relate to the Funds. The forward-looking statements are not historical facts but reflect the Fund’s, PIMCO Canada and/or PIMCO’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Fund, PIMCO Canada and/or PIMCO believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, PIMCO Canada and/or PIMCO undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment funds on Toronto Stock Exchange. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
A word about risk: All investments contain risk and may lose value. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and low interest rate environments increase this risk. Reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed.
PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and throughout the world. ©2024, PIMCO
The products and services provided by PIMCO Canada Corp. may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose.
PIMCO Canada has retained PIMCO LLC as sub-adviser. PIMCO Canada will remain responsible for any loss that arises out of the failure of its sub-adviser.
PIMCO Canada Corp. 199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2 is a company of PIMCO, 416-368-3350
Contact:
Agnes Crane
PIMCO – Media Relations
Ph. 212-597-1054
Email: agnes.crane@pimco.com
