Pimco NY Muni Income Fund II : PCK and PNI Report Results for the Fiscal Quarter and Six Months Ended November 30, 2011
January 30, 2012 at 04:05 pm
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PIMCO California Municipal Income Fund II
PIMCO New York Municipal Income Fund II
PIMCO California Municipal Income Fund II (NYSE: PCK) and PIMCO New York
Municipal Income Fund II (NYSE: PNI) (the "Funds") today announced their
results for the fiscal quarter and six months ended November 30, 2011.
The investment objective of each fund is to provide current income
exempt from federal income tax. California Municipal Income Fund II also
seeks to provide current income exempt from California state income
taxes. New York Municipal Income Fund II also seeks to provide current
income exempt from New York state and city income taxes.
California Municipal Income II
New York Municipal Income II
At November 30,
2011
2010
2011
2010
Net Assets (a)
$402,998,478
$405,161,619
$191,383,964
$192,295,291
Common Shares Outstanding
31,438,080
31,261,451
10,852,987
10,784,537
Net Asset Value ("NAV")
$7.63
$7.75
$10.36
$10.51
Market Price
$9.35
$8.81
$11.17
$11.38
Premium to NAV
22.54%
13.68%
7.82%
8.28%
Undistributed (Overdistributed) Net Investment Income Per Common
Share (b)
$(0.0232)
$(0.0256)
$0.1974
$0.1414
Quarter ended November 30,
2011
2010
2011
2010
Net Investment Income
$5,495,245
$5,673,586
$2,251,770
$2,269,157
Per Common Share
$0.18
$0.19
$0.22
$0.21
Net Realized and Change in Unrealized Gain (Loss)
$1,344,702
$(23,547,708)
$766,251
$(9,085,974)
Per Common Share
$0.04
$(0.75)
$0.07
$(0.84)
Six Months ended November 30,
2011
2010
2011
2010
Net Investment Income
$11,306,057
$11,334,927
$4,583,939
$4,868,947
Per Common Share
$0.37
$0.37
$0.43
$0.45
Net Realized and Change in Unrealized Gain (Loss)
$8,420,736
$(10,764,335)
$2,604,269
$(4,639,015)
Per Common Share
$0.27
$(0.34)
$0.24
$(0.43)
(a) Net assets are inclusive of Preferred Shares of $163 million and $79
million for the California Municipal Income Fund II and New York
Municipal Income Fund II, respectively.
(b) Since the Funds' net earning rates fluctuate from month to month,
there will be periods when the Funds may over-earn or under-earn their
monthly dividend rate. This fluctuation will have the effect of adding
to or subtracting from the Funds' undistributed (overdistributed) net
investment income balances. The Funds' management analyzes the current
and projected net earning rates prior to recommending dividend amounts
to the Funds' Board of Trustees for declaration. There can be no
assurance that the monthly dividend rates will remain at their current
level or that the undistributed net investment income balances, if any,
will be sufficient to cover any shortfall in earnings to meet the
current dividend rate.
Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect,
wholly-owned subsidiary of Allianz Asset Management of America L.P.
(formerly Allianz Global Investors of America L.P.), serves as each
Fund's investment manager and is a member of Munich-based Allianz Group.
Pacific Investment Management Company LLC, an AGIFM affiliate, serves as
the Funds' sub-adviser.
The Funds' daily New York Stock Exchange closing prices, net asset
values per share, as well as other information, is available at http://www.allianzinvestors.com/closedendfunds
or by calling the Funds' shareholder servicing agent at (800) 254-5197.
The financial information contained herein is solely based upon the data
available at the time of publication of this press release, and there is
no assurance that any future results will be the same or similar to what
is reported herein. Information that was obtained from third party
sources we believe to be reliable is not guaranteed as to its accuracy
or completeness. This press release contains no recommendations to buy
or sell any specific securities and should not be considered investment
advice of any kind. Past performance is no guarantee of future results
and the investment returns generated by the Funds will fluctuate. There
can be no assurance that the Funds will meet their stated objectives.
The Funds' ability to pay dividends to common shareholders is subject to
the restrictions in their registration statements, by-laws and other
governing documents, as well as the Investment Company Act of 1940. In
making any investment decision, individuals should utilize other
information sources and the advice of their own professional adviser.
For Information on PIMCO Closed-End Funds: Financial
advisors: 800-628-1237 Shareholders: 800-254-5197 Media
Relations: 212-739-3501
PIMCO New York Municipal Income Fund II (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal, New York State and New York City income tax. Under normal circumstances, the Fund will invest at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income taxes. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality (Baa or higher by Moody's Investors Service, Inc. or BBB or better by S&P Global Ratings or Fitch, Inc.), or bonds that are unrated but determined to be of comparable quality by Pacific Investment Management Company LLC (PIMCO). The Fund's investment manager is PIMCO.
PIMCO NEW YORK MUNICIPAL INCOME FUND II 
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