Dresdner RCM Global Investors is planning to hand over its 13 mutual funds to PIMCO Funds, according documents filed today by Dresdner with the Securities and Exchange Commission.
In July, Dresdner Bank, the parent company of Dresdner RCM, was acquired by Allianz AG, a global financial service conglomerate. PIMCO Advisors and PIMCO Funds are also subsidiaries of Allianz. During a post-acquisition review of Allianz operations, management of Dresdner and "other investment advisory subsidiaries of Allianz" decided it would make sense to merge the Dresdner funds into the PIMCO fund complex, according to the SEC filing. The restructuring into a single mutual fund complex will give Dresdner and PIMCO shareholders exchange privileges among a broader group of funds, according to the filing. It will also help the expansion of the institutional and retail distribution channels for both Dresdner and PIMCO.