PIMCO Global Income Opportunities Fund
TSX : PGI.UN

PIMCO Global Income Opportunities Fund

September 26, 2014 15:52 ET

Pacific Investment Management Company, LLC ("PIMCO") CIO William H. Gross to Leave PIMCO

TORONTO, ONTARIO--(Marketwired - Sept. 26, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

PIMCO Global Income Opportunities Fund (the "Fund") (TSX:PGI.UN) announced today that it has been advised that Willaim H. Gross, the Co-founder and Chief Investment Officer ("CIO") of PIMCO has resigned and will leave the firm, effective immediately. The Manager of the Fund, PIMCO Canada Corp. ("PIMCO Canada"), retains PIMCO to provide investment management services to the Fund.

The Fund has been advised that Douglas Hodge and Jay Jacobs will continue in their roles as Chief Executive Officer and President of PIMCO. The Fund has also been assured that PIMCO has a succession plan in place and its Management Board, comprised of its Managing Directors, will confirm shortly the election of a new Chief Investment Officer.

There will be no change to the individuals at PIMCO who will be primarily responsible for managing the Fund's portfolio and the Fund's portfolio will continue to be primarily managed by Alfred Murata and Daniel Ivascyn.

The Fund invests in an actively managed portfolio comprised primarily of fixed-income securities selected from multiple global fixed-income sectors.

The Fund's investment objectives are to:

(a) provide unitholders with monthly cash distributions;

(b) maximize total return to unitholders through distributions and capital appreciation; and

(c) preserve capital.

About PIMCO

PIMCO is a leading global investment management firm, with offices in 12 countries throughout the Americas, Europe and Asia. PIMCO has U.S.$1.94 trillion in assets under management as of March 31, 2014. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz S.E., 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", "intend", "will" and similar expressions to the extent they relate to the Fund. 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.

Contact Information

  • Agnes Crane
    PIMCO - Media
    Relations Phone: +212 739.4212