Fixed income investment manager PIMCO has released details of the Global Income Opportunities Trust (PMX), its first listed investment trust for Australian investors.
The PIMCO PMX aims to deliver regular income and risk-adjusted returns by targeting PIMCO’s best income-generating ideas across multiple fixed income sectors globally. It targets a distribution of 4.75% to 5.75% per annum, paid monthly.
PMX is aiming to raise an amount of approximately A$500 million and expects to begin trading on the Australian Securities Exchange on 21 April 2022.
The PIMCO PMX will be managed by a team that includes Dan Ivascyn, managing director and Group Chief Investment Officer; Rob Mead, managing director, head of Australia and co-head of Asia-Pacific portfolio management; and Alfred Murata, managing director and portfolio manager, mortgage credit.
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Ivascyn said: “PIMCO has a long and successful history of managing listed trusts around the world.
The flexibility of the listed structure provides us with greater opportunities to pursue high conviction positions to generate attractive income.
“We will continue to employ our long-standing “bend but don’t break” approach, rigorously analyzing and stress-testing potential opportunities that we believe can offer a resilient return profile under a broad range of economic scenarios.”
The Joint Lead Arrangers and Joint Lead Managers to the offer are E&P Corporate Advisory Pty Limited, Morgans Financial Limited, National Australia Bank Limited and Commonwealth Securities Limited.
Other Joint Lead Managers are Ord Minnett Limited, Shaw and Partners Limited and Bell Potter Securities Limited.
For more information on participating in PMX, visit www.pimco.com.au/LIT-PMX
