PIMCO Corporate Income Fund, PIMCO Corporate Opportunity Fund, PIMCO High Income Fund Announce Change in Portfolio Management.NEW YORK -- PA Fund Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Pacific Investment Management Company LLC, the investment manager and sub-adviser, respectively of PIMCO PIMCO Pacific Investment Management Company Corporate Income Fund (NYSE NYSE See: New York Stock Exchange : PCN 1. PCN - Program Composition Notation. 2. (communications) PCN - Personal Communication Network. ), PIMCO Corporate Opportunity Fund (NYSE: PTY) and PIMCO High Income Fund (NYSE: PHK) (collectively, the "Funds"), announced today that effective today Mark Kiesel has assumed day-to-day management of PCN and PTY. Also effective today, Raymond Kennedy, currently a co-manager of PHK, becomes the sole portfolio manager of that Fund. David Hinman, formerly the portfolio manager of PCN and PTY and a co-manager of PHK, is leaving PIMCO. Mr. Kiesel is an Executive Vice President and a senior member of PIMCO's investment strategy and portfolio management group. He also heads the investment-grade corporate desk and manages corporate portfolios for the firm. Previously, Mr. Kiesel served as PIMCO's head of equity derivatives and as a senior credit analyst. Mr. Kiesel joined the firm in 1996, previously having been associated with the sales and trading divisions of Merrill Lynch and JP Morgan. He has eleven years of investment experience and holds a bachelor's degree in economics from the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. and an MBA in finance, economics and international business from the University of Chicago Graduate School of Business Recruiters also voice a strongly positive opinion of students. According to BusinessWeek's biannual MBA rankings: "Chicago's grads were hands-down favorites in our survey of companies that hire MBAs. . The Funds are closed-end management investment companies. The primary objective of the Corporate Income Fund is to seek high current income with secondary objectives of capital preservation and appreciation. The investment objective of the Corporate Opportunity Fund is to seek maximum total return through a combination of current income and capital appreciation. The High Income Fund's primary objective is to seek high current income with capital appreciation as a secondary objective. PA Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group (NYSE - AZ). Pacific Investment Management Company LLC, a PA Fund Management affiliate, serves as the Funds' sub-adviser. Allianz is a leading global financial services company. The Funds' daily New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. closing prices, net asset values per share as well as other information are available at www.pimcoadvisors.com or by calling the Funds' transfer agent at 1-800-331-1710. |
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