SOURCE: PIMCO

PIMCO

June 01, 2016 16:31 ET

Nine PIMCO Closed-End Funds Announce Portfolio Manager Retirement

NEW YORK, NY--(Marketwired - Jun 1, 2016) - PIMCO Municipal Income Fund (NYSE: PMF), PIMCO Municipal Income Fund II (NYSE: PML), PIMCO Municipal Income Fund III (NYSE: PMX), PIMCO California Municipal Income Fund (NYSE: PCQ), PIMCO California Municipal Income Fund II (NYSE: PCK), PIMCO California Municipal Income Fund III (NYSE: PZC), PIMCO New York Municipal Income Fund (NYSE: PNF), PIMCO New York Municipal Income Fund II (NYSE: PNI) and PIMCO New York Municipal Income Fund III (NYSE: PYN) (each, a "Fund" and, together, the "Funds") and Pacific Investment Management Company LLC ("PIMCO"), the Funds' adviser, announced that, effective immediately, Joseph Deane, co-portfolio manager of each Fund, has retired. David Hammer will continue as portfolio manager of each Fund.

Mr. Deane's retirement has been anticipated and his responsibilities will be assumed by Mr. Hammer, who became a portfolio manager of each Fund in August 2015, to ensure continuity and an efficient transition. Mr. Hammer, who was named Co-head of PIMCO's Municipal Bond Portfolio Management team with Mr. Deane in January 2016, will now serve as the Head of PIMCO's Municipal Bond Portfolio Management team.

The Funds' daily New York Stock Exchange closing market prices, net asset values per share, as well as other information, including updated portfolio statistics and performance, are available at pimco.com/closedendfunds or by calling the Funds' shareholder servicing agent at (844) 33-PIMCO. Updated portfolio holdings information about a Fund will be available approximately 15 calendar days after such Fund's most recent fiscal quarter end, and will remain accessible until such Fund files a Form N-Q or a shareholder report for the period which includes the date of the information.

About PIMCO

PIMCO is a leading global investment management firm with offices in 12 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is the investment manager of the Funds and is owned by Allianz S.E., a leading global diversified financial services provider.

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement.

This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2016, PIMCO

Contact Information

  • For information on PIMCO Closed-End Funds:

    Financial Advisors:
    (800) 628-1237

    Shareholders:
    (844) 337-4626 or (844) 33-PIMCO

    PIMCO Media Relations:
    (212) 739-4212