PIMCO Canada Announces Unitholder Approval of Proposed Merger of Certain Closed-End Funds

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TORONTO, Dec. 04, 2024 (GLOBE NEWSWIRE) – PIMCO Canada Corp. (“PIMCO Canada“) announced today that at special meetings of unitholders of PIMCO Tactical Income Fund (TSX: PTI), PIMCO Tactical Income Opportunities Fund (TSX: PTO) and PIMCO Multi-Sector Income Fund (TSX: PIX) (collectively, “Funds”) held on December 4, 2024, the unitholders of the Fund approved all matters relating to the reorganization of each Fund (“Integration”), each currently structured as a trust, in which unitholders of the Funds will own the same class of units in PIMCO Monthly Enhanced Income Fund (TSX: PMEI), a new non-deductible investment fund structured as a fund managed by a trust. by PIMCO Canada, all as specifically described in the Funds’ Management Information Circular dated October 18, 2024.

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Necessary regulatory and independent review committee approvals have also been obtained.

Accordingly, PIMCO Canada expects to proceed with the Merger on December 20, 2024. The Funds will continue to trade as normal until the Merger. Units of each Fund are expected to be delisted on the Toronto Stock Exchange as late as December 20, 2024. Subject to compliance with the listing requirements of the Toronto Stock Exchange, PIMCO Monthly Enhanced Income Fund units are expected to begin trading on Monday, December 23, 2024 following the Merger. A copy of the final prospectus that may be issued for the PIMCO Monthly Enhanced Income Fund will be filed by the Manager and available on the Manager’s website at www.pimco.ca or at www.sedarplus.com.

About PIMCO
PIMCO is one of the world’s leading 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 then, the company has continued to bring innovation and expertise to our relationships with clients seeking the best investment solutions. Today PIMCO has offices around the world and 2,500+ professionals united by one goal: to create opportunities for investors everywhere. PIMCO is owned by Allianz SE, a leading global financial services provider.

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Forward-Looking Statements

Other statements included in this press release include forward-looking statements, including, but not limited to, those identified by the words “expect”, “expect”, “will” and similar expressions to the extent they relate to the Funds. Forward-looking statements are not historical facts but reflect the Fund’s, PIMCO Canada’s 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 believe that the assumptions contained in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, therefore, readers are cautioned not to place undue reliance on such forward-looking statements. in its inherent uncertainty. The Fund, PIMCO Canada and/or PIMCO undertake no obligation to publicly update or revise any forward-looking statement or information as a result of new information, future events or other factors affecting this information, except as required by law.

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You will usually pay brokerage fees to your broker when you buy or sell units of mutual funds on the Toronto Stock Exchange. When units are bought 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 costs and expenses associated with owning investment fund units. An investment fund must prepare disclosure documents containing important information about the fund. You can find more 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 they contain risks 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 many bonds and bond strategies is affected 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 zones increase this risk. A reduction in the leverage of bonds may contribute to a decline in market capitalization and an increase in price volatility. Bond investments may cost more or less than the actual cost when used.

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PIMCO as a general matter provides services to professional institutions, financial intermediaries and institutional investors. Individual investors should consult their financial professional to determine the most appropriate investment options for their financial situation. This information is distributed for informational purposes only and should not be construed as investment advice or a recommendation of any security, strategy or investment product. No part of this application may be reproduced in any form, or referenced in any other document, without express written permission. PIMCO is a trademark of Allianz Asset Management of America LLC in the United States and worldwide. ©2024, PIMCO

Products and services provided by PIMCO Canada Corp. may only be available in certain provinces or territories of Canada and only through authorized dealers for that purpose.

PIMCO Canada has retained PIMCO LLC as a sub-advisor. PIMCO Canada will remain liable for any losses arising from the failure of its sub-adviser.

PIMCO Canada Corp. 199 Bay Street, Suite 2050, Commerce Court Station, PO Box 363, Toronto, ON, M5L 1G2 is a PIMCO Company, 416-368-3350

Contact person:
Agnes Crane
PIMCO – Media Relations
Ph. 212-597-1054
Email: [email protected]

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