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PIMCO fund closure details

PIMCO Select Global Bond

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Fund Group PIMCO Global Advisors (Ireland) Ltd
Fund Name PIMCO Select Global Bond
Type of change Closure
Date fund closed to new business 25 May 2016
Deadline for investors to provide revised fund choice 26 July 2016
Date closure effective from 28 July 2016
Default fund if no revised fund choice provided Cash Deposit (ISA, ISA formerly PEP, CIA)
BlackRock Cash (CRA, CIB)
Is the event subject to FCA approval? No
2. Closure details  
Will the phasing/rebalancing options automatically continue with the new fund replacing the closing fund? No
3. Fund objective  
Current fund objective To maximise total return, consistent with preservation of capital and prudent investment management. The fund will primarily invest in an actively managed, diversified portfolio of fixed income instruments.
4. Charging structure  
Bundled Fund  
Current AMC 1.39
Unbundled Fund  
Current AMC 0.76

 

PIMCO Select UK Corporate Bond

1. Fund details  
Companies impacted Old Mutual Wealth Limited
Old Mutual Wealth Life & Pensions Limited
Fund Group PIMCO Global Advisors (Ireland) Ltd
Fund Name PIMCO Select UK Corporate Bond
Type of change Closure
Date fund closed to new business 25 May 2016
Deadline for investors to provide revised fund choice 26 July 2016
Date closure effective from 28 July 2016
Default fund if no revised fund choice provided Cash Deposit (ISA, ISA formerly PEP, CIA)
BlackRock Cash (CRA, CIB)
Is the event subject to FCA approval? No
2. Closure details  
Will the phasing/rebalancing options automatically continue with the new fund replacing the closing fund? No
3. Fund objective  
Current fund objective To maximise total return, consistent with prudent investment management. The fund will primarily invest in an actively managed, diversified portfolio of fixed income instruments.
4. Charging structure  
Bundled Fund  
Current AMC 1.36
Unbundled Fund  
Current AMC 0.75

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