NEW YORK, March 18, 2005 (PRIMEZONE) -- PIMCO California Municipal Income Fund (NYSE:PCQ) and PIMCO New York Municipal Income Fund (NYSE:PNF) (the "Funds") today announced their results for the fiscal quarter and nine months ended January 31, 2005.
California Municipal Income At January 31, -------------- 2005 2004 -------- -------- Net Assets(a) $409,698,400 $403,709,719 Shares Outstanding 17,811,229 17,811,229 Net Assets Value ("NAV") $14.58 $14.24 Market Price $14.24 $13.78 Premium (Discount) to NAV (2.33)% (3.23)% New York Municipal Income At January 31, -------------- 2005 2004 --------- --------- Net Assets(a) $163,920,242 $165,237,517 Shares Outstanding 7,372,200 7,345,278 Net Assets Value ("NAV") $13.69 $13.92 Market Price $13.77 $13.83 Premium (Discount) to NAV 0.58% (0.65)% (a) Net assets are inclusive of Preferred Shares issuance of $150 million and $63 million for California Municipal Income and New York Municipal Income respectively. California Municipal Income Quarter ended January 31, 2005 2004 ------- --------- Net Investment Income $4,756,134 $4,706,405 Per Share $0.26 $0.26 Net Realized and Unrealized Gain/Loss $4,996,413 $(5,838,096) Per Share $0.29 $(0.33) New York Municipal Income Quarter ended January 31, 2005 2004 Net Investment Income ------ ----- Per Share $1,837,250 $1,865,037 Net Realized and Unrealized Gain/Loss $0.25 $0.25 Per Share $799,946 $3,394,997 $0.11 $0.46 California Municipal Income Nine months ended January 31, ----------------------------- 2005 2004 ---- ---- Net Investment Income $14,303,930 $14,033,637 Per Share $0.80 $0.79 Net Realized and Unrealized Gain/Loss $11,171,149 $(15,270,256) Per Share $0.63 $(0.86) New York Municipal Income Nine months ended January 31, ----------------------------- 2005 2004 ---- ---- Net Investment Income $5,610,231 $5,529,270 Per Share $0.76 $0.75 Net Realized and Unrealized Gain/Loss $1,808,317 $2,973,115 Per Share $0.25 $0.40
The Funds are closed-end management investment companies. The investment objective of each fund is to provide current income exempt from federal income tax. The California Municipal Income Fund also seeks to provide current income exempt from California state income taxes. The New York Municipal Income Fund also seeks to provide current income exempt New York state and city income taxes.
PA Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America, L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC, a PA Fund Management affiliate, serves as the Funds' sub-adviser. Allianz is a leading global financial services company.
The Funds' daily New York Stock Exchange closing prices, net asset values per share as well as other information is available at www.pimcoadvisors.com or by calling the Funds' transfer agent at 1-800-331-1710.