PIMCO Corporate & Income Opportunity Fund
PTY
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- PIMCO Corporate & Income Opportunity Fund (NYSE: PTY) is a closed-end fixed income management investment company that seeks maximum total return through a combination of current income and capital appreciation. The Fund employs a dynamic asset allocation strategy across multiple fixed income sectors in the global credit markets, investing primarily in corporate debt obligations rated in the lowest investment grade category (Baa or BBB) and the highest non-investment grade category (Ba or BB); mortgage-related and other asset-backed securities; government and sovereign debt; taxable municipal bonds; and other fixed-, variable- and floating-rate income-producing securities of U.S. and foreign issuers, including emerging market issuers. It focuses on intermediate maturity bonds across multiple industries and sectors, utilizing fundamental analysis, a top-down approach, and in-house research to select investments. Launched on December 27, 2002, and domiciled in the United States, the Fund is managed by Allianz Global Investors Fund Management LLC and co-managed by Pacific Investment Management Company LLC, with headquarters at 650 Newport Center Drive, Newport Beach, California. Portfolio managers include Alfred T. Murata, Giang Bui, and Mohit Mittal. The Fund operates globally, targeting fixed income opportunities in U.S. and international markets, including emerging markets, and serves investors seeking high current income with secondary capital appreciation through a leveraged portfolio that features an average coupon rate of approximately 8.25% on corporate debt allocations. In recent developments, the Fund filed for an offering of up to $1 billion in common shares as of September 2025, enabling potential capital raising for investment in line with its objectives. It continues monthly common share distributions, with the latest declared at $0.118800 per share in December 2025, reflecting ongoing commitment to high yield payouts amid a distribution rate of around 12.75% on NAV. As of mid-2025, the Fund maintained a 21.09% leverage ratio, primarily through preferred shares and debt, supporting its performance with a 12-month NAV total return of 17.24% through July 2024, though trading at a premium to NAV exposes it to market volatility risks.