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Friday, November 30, 2012

PIMCO Clears Fund Board Membership Obstacles

News summary by MFWire's editors

Historically, PIMCO [profile] had severely restrictive rules governing who could be nominated to its board, and how. But that is changing for the better, according to Morningstar analyst Eric Jacobson.

By changing the rules for nominating members to the firm's mutual funds board, that Pimco body has made their process nearly as permissive as those of any large fund complexes that Morningstar covers, according to Jacobson.

In essence, he writes, all one now needs to do in order to make a board nomination is hold at least $25,000 worth of funds' shares for at least five years and provide a variety of information about the relationship between the nominating shareholder and the nominee.

To learn more about the board rule changes, read Jacobson's Fund Spy article

Edited by: Tommy Fernandez

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