SOURCE: PIMCO

PIMCO

December 22, 2014 16:34 ET

PIMCO Closed-End Funds Announce Changes in Fiscal Year Ends and Shareholder Meeting Dates

NEW YORK, NY--(Marketwired - Dec 22, 2014) - Pacific Investment Management Company LLC ("PIMCO") announced today that the Boards of Trustees/Directors (collectively, the "Board") of the PIMCO-Sponsored Closed-End Funds (each, a "Fund" and, together, the "Funds") have approved a change of the fiscal year end of each Fund other than PIMCO Income Strategy Fund and PIMCO Income Strategy Fund II, as set forth in the table below:

             
Fund   Current Fiscal Year End   New Fiscal Year End   Effective Date of Fiscal Year End Change
PIMCO Strategic Income Fund, Inc. (NYSE: RCS)   January 31   June 30   Following the end of the Fund's current fiscal year ending January 31, 2015
PIMCO Dynamic Income Fund (NYSE: PDI)   March 31   June 30   Following the end of the Fund's current fiscal year ending March 31, 2015
PIMCO Global StocksPLUS® and Income Fund (NYSE: PGP)   March 31   June 30   Following the end of the Fund's current fiscal year ending March 31, 2015
PIMCO Income Opportunity Fund (NYSE: PKO)   October 31   June 30   Immediately - the Fund's current fiscal year will end on June 30, 2015
PIMCO Dynamic Credit Income Fund (NYSE: PCI)   December 31   June 30   Following the end of the Fund's current fiscal year ending December 31, 2014
PCM Fund, Inc. (NYSE: PCM)   December 31   June 30   Following the end of the Fund's current fiscal year ending December 31, 2014
PIMCO High Income Fund
(NYSE: PHK)
  March 31   July 31   Following the end of the Fund's current fiscal year ending March 31, 2015
PIMCO Income Strategy Fund (NYSE: PFL)   July 31   July 31   No change
PIMCO Income Strategy Fund II (NYSE: PFN)   July 31   July 31   No change
PIMCO Corporate & Income Opportunity Fund (NYSE: PTY)   November 30   July 31   Immediately - the Fund's current fiscal year will end on July 31, 2015
PIMCO Corporate & Income Strategy Fund (NYSE: PCN)   October 31   July 31   Immediately - the Fund's current fiscal year will end on July 31, 2015
PIMCO Municipal Income Fund (NYSE: PMF)   April 30   December 31   Following the end of the Fund's current fiscal year ending April 30, 2015
PIMCO California Municipal Income Fund (NYSE: PCQ)   April 30   December 31   Following the end of the Fund's current fiscal year ending April 30, 2015
PIMCO New York Municipal Income Fund (NYSE: PNF)   April 30   December 31   Following the end of the Fund's current fiscal year ending April 30, 2015
PIMCO Municipal Income Fund II (NYSE: PML)   May 31   December 31   Following the end of the Fund's current fiscal year ending May 31, 2015
PIMCO California Municipal Income Fund II (NYSE: PCK)   May 31   December 31   Following the end of the Fund's current fiscal year ending May 31, 2015
PIMCO New York Municipal Income Fund II (NYSE: PNI)   May 31   December 31   Following the end of the Fund's current fiscal year ending May 31, 2015
PIMCO Municipal Income Fund III (NYSE: PMX)   September 30   December 31   Following the end of the Fund's current fiscal year ending September 30, 2015
PIMCO California Municipal Income Fund III (NYSE: PZC)   September 30   December 31   Following the end of the Fund's current fiscal year ending September 30, 2015
PIMCO New York Municipal Income Fund III (NYSE: PYN)   September 30   December 31   Following the end of the Fund's current fiscal year ending September 30, 2015
             

The Board and PIMCO believe that there will be significant benefits to consolidating the Funds' fiscal year ends in the manner described above, including, among other benefits, significant increases in efficiencies for the Funds, the Board and PIMCO.

In connection with the changes to their fiscal year ends discussed above, RCS, PDI, PGP, PHK, PFL and PFN have also announced that they expect to hold their next annual meetings of shareholders on June 30, 2015, which differs from the dates that were contemplated in each such Fund's proxy statement for its most recent annual meeting of shareholders. This date is subject to change by the Funds' Board of Trustees/Directors. Please refer to RCS', PDI's, PGP's, PHK's, PFL's or PFN's notice of meeting, as applicable, which will be included in the proxy statement for such Fund's next annual meeting, when available, for final information on each such Fund's shareholder meeting.

Proposals of shareholders intended to be presented at the June 30, 2015 annual meetings of PGP, RCS, PDI, PHK, PFL or PFN must be received by the relevant Fund no later than February 17, 2015 for PGP or RCS and no later than March 2, 2015 for PDI, PHK, PFL or PFN for inclusion in such Fund's proxy statement and proxy cards relating to that annual meeting. The submission by a shareholder of a proposal for inclusion in a Fund's proxy materials does not guarantee that it will be included. Shareholder proposals are subject to certain requirements under the federal securities laws and must be submitted in accordance with the applicable Fund's Bylaws. Shareholders submitting any other proposals (including proposals to elect Trustee/Director nominees) for a Fund intended to be presented at such Fund's next annual meeting (i.e., other than those to be included in the Fund's proxy materials) must ensure that such proposals are received by the relevant Fund, in good order and complying with all applicable legal requirements and requirements set forth in such Fund's Bylaws. Accordingly, such proposals must be received no earlier than April 18, 2015 and no later than May 3, 2015 for RCS or PGP and no later than May 16, 2015 for PDI, PHK, PFL or PFN. If a shareholder who wishes to present a proposal fails to notify the relevant Fund by the dates described above, the proxies solicited for that annual meeting will be voted on the shareholder's proposal, if it is properly brought before that annual meeting, in accordance with the judgment of the persons named in the proxy card(s) for that annual meeting. If a shareholder makes a timely notification, the proxies may still exercise discretionary voting authority under circumstances consistent with the Securities and Exchange Commissions' proxy rules. Shareholder proposals for the upcoming annual shareholder meetings should be addressed to the attention of the Secretary of the applicable Fund, 1633 Broadway, New York, NY 10019, with a copy to David C. Sullivan, Ropes & Gray LLP, Prudential Tower, 800 Boylston Street, Boston, Massachusetts 02199-3600.

The next annual meetings of shareholders for the Funds other than PDI, PHK, PFL and PFN are expected to be held within thirty days of the anniversary of their most recent annual meetings.

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.

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