PIMCO Corporate & Income Opportunity Fund (PTY) Revises 80% Investment Policy

What Happened

• PIMCO Corporate & Income Opportunity Fund (PTY) announced on June 24, 2026 (board approved June 23, 2026) that it changed its 80% investment policy.
• Effective August 28, 2026, the Fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in corporate debt obligations of varying maturities and/or other income-producing investments, which may include securities of non-corporate issuers.
• The supplement to the Fund’s prospectus and statement of additional information describing this change was filed as Exhibit 99.1.

Key Details

• Board approval date: June 23, 2026; 8-K filed: June 24, 2026.
• Effective date of policy change: August 28, 2026.
• New 80% policy covers: at least 80% of net assets plus any investment borrowings.
• Eligible holdings expanded language: corporate debt obligations and/or income-producing investments, which may include non-corporate issuers.

Why It Matters

• This is a material change to the Fund’s core investment guideline that defines what the Fund must hold under normal circumstances.
• For investors, the change clarifies (and may broaden) the range of securities the Fund can include to meet the 80% threshold, which could affect portfolio composition, risk profile and comparability with peers.
• Investors should review the updated prospectus/supplement (Exhibit 99.1) for full details and consider whether the revised policy aligns with their investment goals and risk tolerance.