Toronto-based PIMCO Canada Corp. announced on Thursday that it is reducing management fees for two funds as well as changing the distribution policy of a third fund.
PIMCO Canadian Short Term Bond Fund and PIMCO Canadian Total Return Bond Fund will have their management fees reduced by up to a maximum of 20 basis points. The firm’s announcement provides details on how the fee reductions will affect various series within those two funds. Those changes will be in effect on Sept. 1.
The firm is also changing the distribution policy of PIMCO Balanced Income Fund (Canada), which will be in place on or about Oct. 3.
“PIMCO Balanced Income Fund (Canada) will declare and distribute income to unitholders quarterly, rather than crediting net income daily to unitholders’ accounts and distributing net income quarterly,” states the announcement. “PIMCO Balanced Income Fund (Canada) will continue to distribute net realized capital gains annually.”