other material
confidence high
sentiment neutral
materiality 0.55
PIMCO High Income Fund eliminates 38% leverage cap from investment guidelines
PIMCO HIGH INCOME FUND
- Board removed non-fundamental guideline that capped future commitments plus Preferred Shares at 38% of total assets.
- Change effective immediately; Fund still bound by Section 18 of Investment Company Act of 1940.
- Deleted restrictions applied to leverage from ARPS, reverse repurchase agreements, dollar rolls, and borrowings.
- Prospectus supplement filed Dec 22, 2022 removes the 38% segregation requirement from three sections.