NEW YORK, Sept. 21, 2006 (PRIMEZONE) -- PIMCO Municipal Income Fund (the "Fund") (NYSE:PMF), 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 July 31, 2006.
At July 31,
-----------
2006 2005
---- ----
Net Assets (a) $556,579,276 $566,076,818
Common Shares Outstanding 24,518,908 24,340,159
Net Asset Value ("NAV") $14.54 $15.04
Market Price $16.85 $15.61
Premium to NAV 15.89% 3.79%
Quarter ended July 31,
----------------------
2006 2005
---- ----
Net Investment Income $6,532,763 $6,697,345
Per Common Share $0.27 $0.27
Net Realized and Change
in Unrealized Gain $1,161,195 $5,258,479
Per Common Share $0.05 $0.22
3 Month Average Undistributed
Net Investment Income
Per Common Share (b) $0.2530 0.3668
(a) Net assets are inclusive of market value of Preferred Shares of
$200 million.
(b) Calculated using the month-end balances for the three months ended
July 31, 2006 and July 31, 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 net investment income balance. Fund management
analyzes the Fund's current and projected net earning rates prior to
recommending dividend amounts to the 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 July 31, 2006
(as a percentage of investments)
--------------------------------
Texas 14.5%
Illinois 12.6
Louisiana 6.1
South Carolina 4.7
Michigan 4.3
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
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.