NEW YORK, Oct. 17, 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 ended August 31, 2005.
At August 31,
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2005 2004
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Net Assets (a) $1,385,785,131 $1,333,736,135
Common Shares Outstanding 58,349,959 57,992,613
Net Assets Value ("NAV") $15.09 $14.29
Market Price $15.59 $14.55
Premium to NAV 3.31% 1.82%
(a) Net assets are inclusive of Preferred Shares issuance of
$505 million.
Quarter ended August 31, 2005
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Net Investment Income $15,808,946 $16,806,119
Per Common Share $0.27 $0.29
Net Realized and Change in
Unrealized Gain $18,611,187 $15,342,947
Per Common Share $0.31 $0.27
3 Month Average
Undistributed
Net Investment Income
Per Common Share (b) $0.0734 N/A
(b) Calculated using the month-end balances for the three months
ended August 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.
Top 5 State Positions at August 31, 2005
(as a percentage of investments)
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Illinois 20.8 %
Texas 11.9
South Carolina 5.8
Massachusetts 5.5
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 http://www.allianzinvestors.com/closedendfunds or by calling the Fund's transfer 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.