Ackman Seeks to Raise $10 Billion for New Equity Fund in Tough Market [MarketWatch]
PIMCO Dynamic Income Fund (PDI)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/dynamic-income-fund
Company Research
Source: MarketWatch
Want to see it on more articles? Give your feedback below or email product@barrons.com thumb-stroke-medium thumb-stroke-medium Bill Ackman, chief executive officer of Pershing Square Capital Management LP, is trying to raise $10 billion for a closed-end fund. Jeenah Moon/Bloomberg Investor Bill Ackman is trying to do the near impossible: launch the largest U.S. closed-end fund ever. His goal is to sell a fund of possibly $10 billion or more—double the size of the largest U.S. closed-end fund, the $5 billion Pimco Dynamic Income fund which trades under the ticker PDI. The nearly $300 billion U.S. closed-end sector is moribund with no new deals priced in 2023. Why? The average closed-end fund is trading for a roughly 10% discount to net asset value, creating cheap competition for a new fund and making investors fearful that any new fund will fall to a discount and result in paper losses to holders. Advertisement That isn't stopping Ackman. His firm, Pershing Square C
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PDI
News
- PDI Under $20 Exceeds A 13% Yield With Potential Upside On The Horizon [Seeking Alpha]Seeking Alpha
- The Incredible 13%-Yielding Junk Bond Fund That's Backed By The Fed [Forbes]Forbes
- The Most Discounted Closed-End Funds Yielding Up To 8% [Forbes]Forbes
- PDI: This Recovery Is Set To Continue (Rating Upgrade) [Seeking Alpha]Seeking Alpha
- SCHD Is Treading Water And Isn't Performing As Well As It Once Was [Seeking Alpha]Seeking Alpha
PDI
Sec Filings
- 3/5/24 - Form N-CSRS
- 2/27/24 - Form NPORT-P
- 2/5/24 - Form 3
- PDI's page on the SEC website