Allianz to reorganize its RCM Global EcoTrends Fund in February

By Toni Weeks

San Diego, Dec. 19 - The board of trustees of the Allianz Multi-Strategy Trust approved a reorganization of the Allianz RCM Global EcoTrends Fund into another existing series of the trust, the Allianz RCM Global Water Fund, according to a 497 filing with the Securities and Exchange Commission on Friday.

The reorganization is expected to close on Feb. 27. No shareholder approval is required.

Both funds have identical investment policies, investment managers, subadvisers and portfolio management teams. Management fees will decrease by 5 basis points.

At close of business on Feb. 16, shares of the Global EcoTrends Fund will no longer be available for purchase and will be closed to exchanges. Shareholders may redeem their shares or exchange them for shares of the same class of any other series of the trust at any time before Feb. 24.

The reorganization is expected to be a tax-free event, and shareholders in the Global EcoTrends Fund will not realize any gains or losses for U.S. federal income tax purposes.

Reorganization costs will be absorbed by the funds' investment manager, New York-based Allianz Global Investors Fund Management LLC.

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