NEW YORK, July 26, 2006 (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, 2006.
At May 31,
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2006 2005
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Net Assets (a) $1,367,831,782 $1,367,289,985
Common Shares Outstanding 58,658,072 58,240,144
Net Asset Value ("NAV") $14.71 $14.81
Market Price $14.45 $15.02
Premium (Discount) to NAV (1.77)% 1.42%
Quarter ended May 31,
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2006 2005
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Net Investment Income $15,652,130 $15,782,298
Per Common Share $0.28 $0.27
Net Realized and Change in
Unrealized Gain (Loss) $(2,119,634) $170,222
Per Common Share $(0.05) $0.01
3 Month Average Undistributed
(Overdistributed)
Net Investment Income Per
Common Share (b) $(0.0163) $0.1056
Year ended May 31,
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2006 2005
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Net Investment Income $62,797,656 $64,807,639
Per Common Share $1.08 $1.11
Net Realized and Change in
Unrealized Gain $1,113,273 $48,288,843
Per Common Share $0.01 $0.84
(a) Net assets are inclusive of market value of Preferred Shares of
$505 million.
(b) Calculated using the month-end balances for the three months ended
May 31, 2006 and May 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 (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 overdistributed
net investment income balance will remain constant.
Top 5 State Positions at May 31, 2006
(as a percentage of investments)
Illinois 20.9%
Texas 10.8
South Carolina 5.9
Colorado 5.3
Alabama 5.0
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.