The Pimco Corporate & Income Opportunity Fund (NYSE: PTY) is a closed-end management investment company sponsored by Pacific Investment Management Company LLC (PIMCO). The fund’s primary objective is to provide a high level of current income, with a secondary focus on capital appreciation. It seeks to achieve these goals through investment in a diversified portfolio of corporate debt securities, loan participations and other fixed-income instruments.
PTY primarily invests in a broad range of U.S. and global corporate bonds, including both investment-grade and below-investment-grade issues. The portfolio may also include convertible securities, collateralized loan obligations and structured products such as mortgage- and asset-backed securities. By combining exposure to different credit sectors and maturities, the fund aims to capture income opportunities across changing market conditions.
As a closed-end fund, PTY issues a fixed number of shares and may employ leverage through borrowings and the issuance of preferred shares to enhance income potential. The fund pays monthly distributions to shareholders, reflecting its focus on delivering regular income. Its structure allows portfolio managers to take advantage of pricing inefficiencies and credit spreads that can arise in corporate and structured credit markets.
Pacific Investment Management Company, the fund’s advisor, was founded in 1971 and is headquartered in Newport Beach, California, with offices throughout North America, Europe and Asia. The Pimco portfolio management team overseeing PTY has decades of experience in credit markets, supported by research capabilities that span sovereign, corporate and securitized sectors. This global platform underpins the fund’s approach to seeking consistent income generation and risk management.
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