PFO Fund Renames Itself and Revises Investment Policy Effective July 5, 2019
The Board of Flaherty & Crumrine Preferred Income Opportunity Fund approved a name change to Flaherty & Crumrine Preferred and Income Opportunity Fund and revisions to its investment policies. The non-fundamental policy now requires at least 80% of Managed Assets in preferred and other income-producing securities, down from the prior requirement of preferred securities, and the Board can change it without shareholder approval.
Key points
- Board approved the name change and policy changes on April 23, 2019
- Fund must invest at least 80% of Managed Assets in preferred and other income-producing securities under normal market conditions
- Managed Assets now defined to include net assets plus certain loans, debt, preferred liquidation preference and reverse repurchase proceeds
- Changes take effect on or about July 5, 2019
The filing
Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 02, 2019.
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