TORONTO, ON--(Marketwired - Feb 27, 2014) - PIMCO Canada Corp. (the "Manager") is pleased to announce that PIMCO Global Income Opportunities Fund (the "Fund") has filed a final prospectus dated February 26, 2014, with the securities regulatory authorities of all the Canadian provinces and territories for an initial public offering of Class A Units (the "Class A Units") at a price of $10 per Class A Unit. The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Class A Units under the symbol PGI.UN, subject to the fulfillment of TSX requirements.
The Fund is being created to invest in an actively managed portfolio (the "Portfolio") comprised primarily of fixed-income securities selected from multiple global fixed-income sectors. The Manager has retained Pacific Investment Management Company, LLC, ("PIMCO"), to provide investment management services to the Fund.
The Fund's investment objectives are to:
- provide unitholders with monthly cash distributions;
- maximize total return to unitholders through distributions and capital appreciation; and
- preserve capital.
The Fund will not have a fixed monthly distribution amount but intends to make cash distributions monthly. The Fund's monthly distributions are initially targeted to be 6.5% per annum on the original subscription price (or $0.5417 per Class A Unit per month or $0.65 per annum).
The syndicate of Agents is being co-led by RBC Capital Markets, CIBC, TD Securities and National Bank Financial, and includes Scotiabank, BMO Capital Markets, Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities Inc., Raymond James Ltd., Desjardins Securities, and Mackie Research Capital Corp.
The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Fund's securities referred to herein in the United States.
PIMCO is a leading global investment management firm, with offices in 12 countries throughout the Americas, Europe and Asia. PIMCO had approximately U.S. $1.9 trillion in assets under management as of December 31, 2013. 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.
The offering of Units is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from a registered representative of any of the Dealers listed in the prospectus. Investors should read the prospectus before making an investment decision.
Commissions, management fees and expenses all may be associated with an investment in the Units. The Units are not guaranteed, their value may change frequently and past performance may not be repeated.
The fund is not a complete investment program. An investment in the fund involves a high degree of risk and should be considered speculative. Investors could lose some or all of their investment. For a summary of the risks of an investment in the fund, please see the Principal Risks of the Fund section of the prospectus. Shares of closed-end investment funds are generally not redeemable and trade in the secondary market. Shares of closed-end funds frequently trade at a discount to their net asset value, which may increase risk of loss. The risk may be greater for investors expecting to sell their shares in a relatively short period after completion of the fund's initial public offering.
This is not an offer to sell securities and is not a solicitation of an offer to buy securities in any jurisdiction where the offer or sale is not permitted. Also, before your clients invest or send money, they should carefully read the fund's prospectus and consider carefully the risks they assume when they invest in the fund's common shares. There can be no assurance that the fund will achieve its investment objectives or be able to structure its investment portfolio as anticipated.
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 and YOUR GLOBAL INVESTMENT AUTHORITY are trademarks or registered trademarks of Allianz Asset Management of America L.P. and Pacific Investment Management Company LLC, respectively, in the United States and throughout the world. © 2014 PIMCO