PIMCO Investments LLC (“PI” or the “Firm”) has developed a Business Continuity Plan (the “Plan”) describing the Firm’s anticipated response to events that significantly disrupt its business. Because the timing and impact of disasters and disruptions is unpredictable, flexibility will be necessary when responding to actual events as they occur. With that in mind, the information below summarizes the Firm’s Business Continuity Plan.
PIMCO Investments’ Business Continuity Plan
The Firm’s policy is to respond to a Significant Business Disruption (“SBD”) by safeguarding 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 transaction of business to continue. In the event that the Firm determines business is unable to continue, PIMCO Funds’ shareholders can be reasonably confident that problems with the business will not affect prompt access to their funds, securities and account records. PI does not perform any type of clearing function for itself or others.
Furthermore, it does not hold customer funds or securities. Transactions in PIMCO Funds are processed either by the Funds’ transfer agent(s), as applicable, or by third-party broker/dealers. Each transfer agent also maintains certain shareholders’ accounts, can grant those shareholders access to them, and can deliver funds and securities upon request.
PI maintains a Business Continuity Plan designed to respond reasonably and effectively to events of varying scope. The Plan defines critical functions, staff assignments, alternate work locations, resource requirements, vital records, and assets related to restoring business operations with minimal impact. The Plan is reviewed and maintained on an annual basis to ensure that documented information is current and recovery strategies support the operations.
The Firm has offices located in New York, NY (Location #1) and Newport Beach, CA (Location #2). (Note: each transfer agent or administrator receives mail, orders and payments for the relevant funds at their business office locations.
The New York, NY (Location #1) Office is located at 1633 Broadway, New York, NY 10019. Its main telephone number is 212-739-3000.
The Newport Beach, CA (Location #2) Office is located at 840 Newport Center Dr., Newport Beach, CA, 92660. Its main telephone number is (949) 720-6000.
Alternative Physical Location(s) of Employees
In the event of an SBD at Location #1 we may move certain key personnel from Location #1 to IBM Business Continuity and Recovery Services, Sterling Forest, NY, while other employees work from their home. Its main telephone number is 845-759-4900. In the event of an SBD at Location #2, we may move certain key employees to an alternate location in California, while other employees work from their home.
Other measures have been taken so that key employees are able to access their desktop computers from a remote location.
As indicated above, the Firm does not maintain custody of PIMCO Funds shareholder funds, securities or records. In the event of an internal or external SBD, if Web access is available, the Firm will post on our Website that customers may access their funds and securities by contacting BFDS at 816-435-1000 or State Street. The Firm will make this information available to customers through its disclosure policy. 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.
For more information – If you have questions about our business continuity planning, you can contact us at 212-739-3000.