PIMCO Canada Corp. (PIMCO), a leading global investment management firm, announced on August 4 management fee reductions to two of its bond funds. The company declared a change in the distribution policy of its balanced income fund in the same release.
Effective September 1, PIMCO Canadian Short Term Bond Fund and PIMCO Canadian Total Return Bond Fund will have management fee reductions of up to 20 basis points. More specifically, the company will decrease management fees on PIMCO Canadian Short Term Bond Fund to: Series A (1.00%), Series F (0.50%), Series M (0.45%) and Series O (0.95%) and on PIMCO Canadian Total Return Bond Fund to: Series A (1.00%), Series F (0.50%), Series M (0.46%) and Series O (0.96%).
The change in distribution shall be applied to the PIMCO Balanced Income Fund (Canada) effective on October 3. Starting on that date, the fund will declare and distribute income to unitholders on a quarterly basis, as opposed to crediting net income daily to unitholders' accounts and distributing net income quarterly. As for net realized capital gains, the fund will continue to distribute these annually.
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