Morningstar, Inc. Commentaries
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.