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PIMCO Multi-Sector Income Fund T.PIX


Primary Symbol: T.PIX.UN

PIMCO Multi-Sector Income Fund (the Fund) is a Canada-based closed-end investment fund. The Fund’s investment objectives is to provide unitholders (the Unitholders) with current income as primary objective and capital appreciation as secondary objective, through various market cycles, by utilizing a dynamic asset allocation strategy among multiple sectors in the global credit markets, including corporate debt, mortgage-related and other asset-backed securities, government and sovereign debt, taxable municipal bonds, other fixed-, variable- and floating-rate income-producing securities of U.S. and global issuers, including emerging market issuers, and real estate-related investments. PIMCO Canada Corp. (PIMCO Canada) is the trustee, investment fund manager and portfolio adviser of the Fund (the Manager), Pacific Investment Management Company LLC (PIMCO) is the sub-adviser and State Street Trust Company Canada is the custodian of the Fund.


TSX:PIX.UN - Post by User

PIMCO Multi-Sector Income Fund
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Comment by tomdogon Sep 06, 2005 7:49pm
284 Views
Post# 9515570

Sad, sad, sad.

Sad, sad, sad.I am having a difficult time believing the fine print in this release. Not only, as you point out, is insider debt being converted at about .28/sh, but also check out the details of those preferred shares that they're issuing themselve: Pay US$1000/sh today. Get 8% dividends ($80/sh) per year for the next few years. In year four, it's your choice of double your money back or, if the shares take off, forget the measly double--you can convert your pref share into common at a huge discount to today's price (at the rate of about CAN.27/sh). Win, win, win (if you are an insider). I say--sad, sad, sad.
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