NEW YORK, May 15, 2007 (PRIME NEWSWIRE) -- PIMCO Municipal Income Fund II (the "Fund") (NYSE:PML), a closed-end management investment company which seeks to provide current income exempt from federal income tax, today announced its results for the fiscal quarter and six months ended November 30, 2006.
At November 30,
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2006 2005
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Net Assets (a) $1,401,445,568 $1,350,183,249
Common Shares Outstanding 58,795,859 58,461,164
Net Asset Value ("NAV") $15.25 $14.46
Market Price $15.90 $15.26
Premium to NAV 4.26% 5.53%
Quarter ended November 30,
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2006 2005
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Net Investment Income $15,612,746 $15,603,302
Per Common Share $0.26 $0.27
Net Realized and Change in
Unrealized Gain $21,400,664 $(34,941,788)
Per Common Share $0.37 $(0.59)
3 Month Average Undistributed
(Overdistributed)
Net Investment Income Per Common
Share (b) $(0.0223) $0.0383
Six Months ended November 30,
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2006 2005
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Net Investment Income $31,387,958 $31,412,248
Per Common Share $0.53 $0.54
Net Realized and Change in
Unrealized Gain (Loss) $33,305,714 $(16,330,601)
Per Common Share $0.57 $(0.28)
(a) Net assets are inclusive of market value of Preferred Shares of
$505 million.
(b) Calculated using the estimated accumulated month-end tax-basis
balances for the three months ended November 30, 2006 and
November 30, 2005, respectively. Please note that generally
there is a close correlation between what the Fund earns (net of
expenses) and what it pays in monthly dividends. However, since
net earning rates fluctuate from month to month while monthly
dividends have remained relatively stable, there will be periods
when the Fund may modestly over-earn or under-earn its monthly
dividend, which would have the effect of adding to or
subtracting from the Fund's undistributed (overdistributed) net
investment income balance. Fund management analyzes the Fund's
current and projected net earning rates prior to recommending
dividend amounts to the Fund's Board of Trustees for declaration.
There can be no assurance that the current dividend rate or the
undistributed (overdistributed) net investment income balance
will remain constant.
Top 5 State Positions at November 30, 2006
(as a percentage of investments)
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Illinois 20.5 %
Texas 11.5
Colorado 5.4
South Carolina 5.3
Massachusetts 5.2
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Fund's investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC, an Allianz Global Investors Fund Management affiliate, serves as the Fund's sub-adviser.
The Fund's daily New York Stock Exchange closing price, net asset value per share, as well as other information, is available at http://www.allianzinvestors.com/closedendfunds or by calling the Fund's shareholder servicing agent at (800) 331-1710.
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 the results 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 Fund will fluctuate. In making an investment decision, individuals should utilize other information sources and the advice of their own professional adviser.