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GPM - PIMCO Enters The Merger Game: What Are The Implications?
Guggenheim Enhanced Equity Income Fund
PIMCO surprised investors by announcing a merger of two of their most popular funds into a third.
Most of the arbitrage already is gone but we highlight some of our thoughts surrounding what's next and the distribution.
I wrote to members this AM that I expected PDI to be down 1% to 2% and PCI to be up 1% to 2%.
Ultimately, I do think the distribution will need to be cut but perhaps this merger gives PIMCO some time to assess the environment a few months from now.