DEF: PIMCO Funds Announce Joint Annual Meeting of Shareholders to Elect Trustees

PIMCO closed-end funds announce a joint annual meeting of shareholders on June 27, 2025, to elect trustees and conduct other business.

Summary

• PIMCO Dynamic Income Strategy Fund (PDX), PIMCO Strategic Income Fund, Inc. (RCS), PIMCO Global StocksPLUS & Income Fund (PGP), PIMCO High Income Fund (PHK), PIMCO Dynamic Income Fund (PDI), PIMCO Income Strategy Fund (PFL), and PIMCO Income Strategy Fund II (PFN) will hold a Joint Annual Meeting of Shareholders on June 27, 2025.
• The meeting will take place at the offices of Pacific Investment Management Company LLC (PIMCO) in Newport Beach, California.
• Shareholders will vote on the election/re-election of Trustees/Directors for each fund.
• The record date for determining shareholders eligible to vote is April 28, 2025.
• Shareholders can vote by mail, internet, telephone, or in person at the meeting.
• The Board of Trustees of each Fund is soliciting proxies for the meeting.
• The cost of soliciting proxies will be borne by PIMCO.
• The Boards of Trustees/Directors unanimously recommend voting for the election of all nominees.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The board's recommendation to vote for the nominees suggests a positive outlook on the current governance structure.

Positives

• The Boards of Trustees/Directors unanimously recommend voting for the election of all nominees, indicating confidence in the proposed leadership.
• Shareholders have multiple options for voting, including mail, internet, telephone, and in person, providing flexibility and convenience.
• The document provides clear instructions on how to vote and how to revoke a proxy, ensuring shareholders are well-informed.

Future Outlook

The document outlines the process for the upcoming annual meeting and provides information for shareholders to participate in the election of trustees/directors.

Management Comments

• The Board of Trustees of each Fund unanimously recommends that you vote for the proposal.
• Each of the nominees has indicated he or she will serve if elected or re-elected, as applicable.

Industry Context

This announcement is typical for registered investment companies, ensuring compliance with regulatory requirements and providing shareholders with the opportunity to participate in corporate governance.

Comparison to Industry Standards

• The structure of the Board with a supermajority of independent trustees is consistent with industry best practices for fund governance.
• The establishment of committees such as the Audit Oversight Committee, Governance and Nominating Committee, and Valuation Oversight Committee aligns with standard practices for overseeing fund operations and risk management.
• The process for shareholder communication and submission of nominee candidates is in line with regulatory requirements and industry norms for shareholder engagement.

Stakeholder Impact

• Shareholders have the opportunity to influence the governance of the funds by voting on the election of trustees/directors.
• The outcome of the vote will determine the composition of the Boards, which oversee the management and operations of the funds.

Next Steps

• Shareholders should review the proxy statement and vote on the election of trustees/directors.
• Shareholders can attend the Joint Annual Meeting on June 27, 2025, or vote by proxy.

Key Dates

Keywords

PIMCO, closed-end funds, annual meeting, trustees, directors, proxy statement, shareholders, election, voting, investment management