NEW YORK, July 29, 2005 (PRIMEZONE) -- 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 year ended May 31, 2005.
At May 31,
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2005 2004
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Net Assets (a) $1,367,289,985 $1,317,670,299
Common Shares Outstanding 58,240,144 57,992,613
Net Assets Value ("NAV") $14.81 $14.01
Market Price $15.02 $13.31
Premium (Discount) to NAV 1.42% (5.00)%
(a) Net assets are inclusive of Preferred Shares issuance of $505
million.
Quarter ended Quarter ended
May 31, 2005 May 31, 2004
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Net Investment Income $15,782,298 $17,418,229
Per Common Share $0.27 $0.30
Net Realized and
Unrealized Gain (Loss) $170,222 $(53,180,798)
Per Common Share $0.01 $(0.92)
3 Month Average
Undistributed
Net Investment Income
Per Common Share (b) $0.1056 N/A
(b) Calculated using the month-end balances for the three months
ended May 31, 2005. 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 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 net investment income balance
will remain constant.
Year ended Year ended
May 31, 2005 May 31, 2004
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Net Investment Income $64,807,639 $67,925,448
Per Share Common Share $1.11 $1.17
Net Realized and
Unrealized Gain (Loss) $48,288,843 $(44,306,756)
Per Share Common Share $0.84 $(0.77)
Top 5 State Positions at May 31, 2005
(as a percentage of investments)
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Illinois 20.5 %
Texas 11.7
Massachusetts 5.9
South Carolina 5.8
Colorado 5.3
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 www.allianzinvestors.com/closedendfunds/ or by calling the Fund's transfer agent at 1-800-331-1710.
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.