The Securities Commission has granted an extension of the prospectus lapse date for two mutual funds managed by PIMCO Canada Corp. The extension is for 161 days, moving the lapse date from January 15, 2022, to June 25, 2022. This decision allows the funds’ prospectus to be consolidated with the manager’s primary fund family prospectus, aiming to streamline disclosure and reduce costs.
The extension was granted under subsection 62(5) of the Securities Act (Ontario), which governs the timing for the renewal of a simplified prospectus, annual information form, and fund facts. The Filer, PIMCO Canada Corp., is in compliance with securities legislation and manages both funds as open-ended mutual fund trusts in Ontario.
The consolidation is intended to facilitate distribution, enable easier comparison for investors, and potentially align operational and administrative features across the Filer’s fund platform. The Commission determined that the extension would not compromise the accuracy of the prospectus information and would not be prejudicial to the public interest. The decision was made in accordance with the test set out in the relevant securities legislation.