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Morningstar, Inc. Commentaries

PIMCO Prevails in a High-Profile Proxy Battle

May 14, 2015
Click here to access PIMCO Prevails in a High-Profile Proxy Battle

A proxy fight at a PIMCO closed-end fund caught the attention of investors outside of the typically insular CEF world. In early 2015, Ironsides Partners initiated a proxy fight with PIMCO Dynamic Credit Income (PCI). At that point, the firm owned about 1% of the fund's outstanding shares and attempted to add founder Robert Knapp and a lawyer for the firm, Richard Cohen, to the fund's board.

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