PNI

PIMCO New York Municipal Income Fund II is a closed-end fixed income mutual fund managed by Allianz Global Investors Fund Management LLC and advised by Pacific Investment Management Company LLC (PIMCO). The fund invests primarily in municipal bonds issued by the state of New York and its political subdivisions, with the objective of providing current income exempt from federal and New York state income taxes. The fund's portfolio typically consists of investment-grade and below-investment-grade municipal securities, including general obligation bonds, revenue bonds, and municipal lease obligations. PIMCO, the fund's investment adviser, is one of the world's premier fixed income managers with approximately $1.9 trillion in assets under management as of recent reports. The fund trades on the New York Stock Exchange under the ticker symbol PNI and employs leverage through reverse repurchase agreements and other borrowing mechanisms to enhance returns, though this also increases risk. As a closed-end fund, PNI issues a fixed number of shares that trade on the secondary market, often at premiums or discounts to net asset value. The fund makes monthly distributions to shareholders and maintains a focused mandate on New York municipal debt, making it particularly relevant for New York residents seeking tax-advantaged income. PIMCO's experienced municipal bond team actively manages the portfolio to navigate credit risk, interest rate fluctuations, and market conditions.