PIMCO Investments LLC (the “Firm”) has developed a Business Continuity Plan (the “Plan”) describing the Firm’s anticipated response to a range of events that could significantly disrupt its business. Because the timing and impact of disasters, emergencies and other events is unpredictable, flexibility is necessary when responding to actual disruptions as they occur. With that in mind, the goal of the Plan is to resume operations as quickly and smoothly as possible.
The Firm’s Plan for responding to a significant business disruption addresses safeguarding of employees’ lives and Firm property, making a financial and operational assessment, quickly recovering and resuming operations, protecting all of the Firm’s books and records, and allowing the continued ability to serve investors and transact business.
The Firm’s Plan anticipates events of varying scope including PIMCO-only business disruptions; disruptions to one PIMCO office or to a city or community where a PIMCO office is located; regional or national disruptions; and disruptions of a pandemic nature. The Plan defines critical functions, staff assignments, alternate work locations, resource requirements, vital records, and assets related to recovering and restoring business operations with minimal impact. The Firm continually assesses, updates and tests the Plan and looks for ways to improve its readiness for a significant business disruption.
Transactions in PIMCO Funds are processed either by the Funds’ transfer agent or by third-party broker/dealers. The Funds’ transfer agent maintaining shareholder accounts registered in a shareholder’s name can grant those shareholders access to cash and PIMCO Funds shares upon request. If your PIMCO Fund shares are held through a third-party broker/dealer you should review that broker/dealer’s business continuity plan disclosure. In the event that the Firm determines its business is unable to continue, PIMCO Funds’ shareholders can be reasonably confident that problems with the Firm’s business will not affect prompt access to their cash, PIMCO Funds shares and account records. However, no contingency plan, whether by the Firm, the Funds’ transfer agent, or a third-party broker/dealer, can eliminate all risk of service interruption or temporarily impeded account access.
The Firm has offices located in New York, NY, Newport Beach, CA and Austin, TX. Each transfer agent receives mail, orders and payments for the PIMCO Funds at their business office locations.
The New York, NY Office is located at 1633 Broadway, 45th Floor, New York, NY 10018. Its main telephone number is 212.739.3000.
The Newport Beach, CA Office is located at 650 Newport Center Drive, Newport Beach, CA, 92660. Its main telephone number is 949.720.6000.
The Austin, TX Office is located at 401 Congress Avenue, Suite 1800, Austin, TX, 78701. Its main telephone number is 737.990.3000.
Alternative Physical Location(s) of Employees
In the event of an significant business disruption at one of the Firm’s locations, it may relocate key personnel to alternate sites within the affected region that have been established for critical business units to continue doing business in emergency situations. Systems and processes have been implemented that will allow for employees to support critical functions by accessing their desktop computers from a remote location through secure remote access connections. As a further measure, depending on the extent and magnitude of the disruption, critical functions can be redirected to other PIMCO offices worldwide.
As indicated above, the Firm does not maintain custody of PIMCO Funds shareholders’ cash, shares or records. In the event of an internal or external significant business disruption, if Web access is available, the Firm will post on its Web site, at www.pimco.com, that shareholders of record may access their cash and shares by contacting the respective transfer agent below. Fund shareholders who deal with a third-party broker/dealer will be instructed to contact their broker/dealer regarding access to their funds and securities in such circumstances.
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PIMCO Open-End Mutual Funds
DST Asset Manager Solutions, Inc.
PIMCO Closed-End Funds
American Stock Transfer Agent & Trust Company, LLC (AST)
PIMCO Interval Funds
DST Asset Manager Solutions, Inc.
For more information – If you have questions about our business continuity planning, you can contact us at 212.739.3000.