News Column

PIMCO Closed-End Funds Announce Shareholder Approval and Effective Date of PIMCO Assuming Investment Manager Role

August 19, 2014

NEW YORK--(BUSINESS WIRE)-- Pacific Investment Management Company LLC (“PIMCO”), a leading global investment management firm, will replace Allianz Global Investors Fund Management LLC (“AGIFM”) as the investment manager to 20 closed-end funds for which PIMCO currently serves as sub-adviser.

The transition is expected to become effective at the close of business on September 5, 2014.

The 20 funds (each a “Fund” and together the “Funds”) are as follows:

  • PIMCO Corporate & Income Opportunity Fund (NYSE:PTY)
  • PIMCO Corporate & Income Strategy Fund (NYSE:PCN)
  • PIMCO Dynamic Credit Income Fund (NYSE:PCI)
  • PIMCO Dynamic Income Fund (NYSE:PDI)
  • PIMCO Global StocksPLUS® & Income Fund (NYSE:PGP)
  • PIMCO High Income Fund (NYSE:PHK)
  • PIMCO Income Opportunity Fund (NYSE:PKO)
  • PIMCO Income Strategy Fund (NYSE:PFL)
  • PIMCO Income Strategy Fund II (NYSE:PFN)
  • PIMCO Strategic Income Fund, Inc. (formerly, PIMCO Strategic Global Government Fund, Inc.) (NYSE:RCS)
  • PCM Fund, Inc. (NYSE:PCM)
  • PIMCO California Municipal Income Fund (NYSE:PCQ)
  • PIMCO California Municipal Income Fund II (NYSE:PCK)
  • PIMCO California Municipal Income Fund III (NYSE:PZC)
  • PIMCO Municipal Income Fund (NYSE:PMF)
  • PIMCO Municipal Income Fund II (NYSE:PML)
  • PIMCO Municipal Income Fund III (NYSE:PMX)
  • PIMCO New York Municipal Income Fund (NYSE:PNF)
  • PIMCO New York Municipal Income Fund II (NYSE:PNI)
  • PIMCO New York Municipal Income Fund III (NYSE:PYN)

    Shareholders of each Fund have approved a new Investment Management Agreement with PIMCO (the “Agreement”). Under the Agreement, PIMCO will continue to provide the day-to-day portfolio management services it has provided to each Fund as its sub-adviser and will also assume responsibility for the supervisory and administrative services currently provided by AGIFM to each Fund as its investment manager. The Funds’ existing portfolio managers are remaining the same, and PIMCO personnel will replace AGIFM personnel as Fund officers and in other roles to provide and oversee the administrative, accounting/financial reporting, compliance, legal, marketing, transfer agency, shareholder servicing and other services required for the daily operations of the Funds.

    Each Fund’s daily New York Stock Exchange closing market price, net asset value per share, as well as other information, including updated portfolio statistics and performance, are available at us.allianzgi.com/closedendfunds or by calling the Funds’ shareholder servicing agent at (800) 254-5197. Following the transition to PIMCO as the Funds’ investment manager, such information will be available at www.pimco.com/closedendfunds or by calling the Funds’ shareholder servicing agent at 844-33PIMCO (844-337-4626).

    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 investment needs. PIMCO’s goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline.

    PIMCO and AGIFM are majority-owned and wholly-owned subsidiaries, respectively, of Allianz Asset Management of America L.P., a member of Munich-based Allianz Group., a leading global diversified financial services provider.

    Statements made in this release that look forward in time involve risks and uncertainties and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a Fund’s performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement its operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.



    PIMCO Closed-End Funds:

    Financial Advisors: 800-628-1237

    Shareholders: 800-254-5197

    AGIFM Media Relations: 212-739-3501

    PIMCO Media Relations: 212-739-4212

    Source: PIMCO Closed-End Funds


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