Sep 22, 4:26 PM ET
PIMCO Dynamic Income Strategy Fund (PDX) renames, cuts fee 0.10%, changes strategy
On September 20, 2023, the board of PIMCO Energy and Tactical Credit Opportunities Fund approved renaming it PIMCO Dynamic Income Strategy Fund with NYSE ticker PDX, changing its investment objectives and strategies, and rescinding its policy to invest at least 80% of net assets in energy-linked and credit-linked investments. For shareholders, the management fee paid to PIMCO will fall from 1.35% to 1.25% of average daily total managed assets, effective December 1, 2023, while the other changes take effect November 21, 2023. The fund will give shareholders 60 days' written notice of the rescission of the 80% Policy.
- Board approved the name change and NYSE ticker change to PDX on September 20, 2023
- Annual management fee rate to PIMCO cut 0.10%, from 1.35% to 1.25% of average daily total managed assets, effective December 1, 2023
- Investment objectives, strategies and the 80% Policy rescission take effect November 21, 2023, with 60 days' written notice to shareholders
- Dan Ivascyn, Alfred Murata and Giang Bui added to the portfolio management team