Dresdner RCM Global Investors is having a difficult time getting its shareholders to vote for the reorganization it proposed in October. The firm wants to hand over its 13 mutual funds to PIMCO Funds in order to help the expansion of the institutional and retail distribution channels for both firms, as well as to give shareholders exchange privileges among a broader group of funds. Both firms are affiliates under the Allianz AG umbrella.
Apparently, however, the firm is having a problem getting the necessary approval of shareholders. Consequently, Robert Goldstein, president Dresdner, sent out a letter, dated Dec. 6, asking advisers to tell their clients to vote for the proposal.