PIMCO New York Municipal Income Fund II is a closed-end management investment company traded on the New York Stock Exchange under the symbol PNI. The fund is externally managed and advised by Pacific Investment Management Company LLC (PIMCO), with a primary objective of providing a high level of current income exempt from federal, New York State and certain local income taxes. Since its inception in 2005, PNI has sought to combine the tax advantages of municipal securities with PIMCO’s global fixed-income expertise.
The fund’s portfolio is primarily allocated to municipal obligations issued by or on behalf of the State of New York and its political subdivisions, including general obligation bonds, revenue bonds tied to transportation, utilities, education and health care projects, and insured or enhanced municipal securities. While the emphasis remains on New York issuers, PNI may invest a portion of its assets in municipal bonds from other U.S. states to achieve broader diversification and take advantage of attractive yield opportunities outside its home state.
To enhance income potential, PNI employs leverage through senior borrowings and preferred shares, within regulatory limits. PIMCO’s investment process combines top-down macroeconomic analysis with bottom-up credit research, enabling the fund to adjust duration, sector allocations and credit exposure in response to shifts in interest rate expectations and credit fundamentals. The firm’s risk management framework and in-house municipal credit team seek to maintain portfolio resilience across market environments.
PNI is part of PIMCO’s extensive municipal bond platform, which manages a broad range of tax-exempt strategies for individual and institutional investors. PIMCO, founded in 1971 and headquartered in Newport Beach, California, is recognized for its large-capacity fixed-income solutions and disciplined research approach. The fund’s dedicated municipal portfolio professionals draw on this global research network to identify investment opportunities and navigate the evolving credit landscape, aiming to deliver consistent, tax-efficient income to shareholders.
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