New York Municipal Bond Fund

PNYPX

Updated June 14, 2019

Objective

Seeks high current income exempt from federal and New York income tax; capital appreciation is a secondary objective

Primary Portfolio

Investment grade municipal securities, with average portfolio duration normally varying within (negative) 2 years to positive 4 years of the portfolio duration of the securities comprising the Bloomberg Barclays New York Municipal Bond Index

Overview

Fund Overview

Tax advantages for New Yorkers

Investing primarily in high-quality New York municipal bonds, the fund aims to deliver attractive tax-free income at the federal and New York state level, with capital appreciation as a secondary goal.

Why Invest In This Fund

Potential for attractive tax-efficient income

The fund pursues interest that is exempt from federal and NY state income taxes, which may be especially beneficial for NY residents in higher tax brackets. The fund’s average portfolio duration normally varies within -2 to +4 years of the portfolio duration of the securities comprising the Bloomberg Barclays New York Municipal Bond Index.

Targeting opportunities in a transformed municipal market

PIMCO is uniquely qualified to respond to recent changes in the municipal bond market, with an extensive network of credit research capabilities to address concerns about creditworthiness, which is critical to municipal bond investing. Additionally, PIMCO has the market presence to provide access to the new issue and secondary markets.

Active management

PIMCO has been managing municipal bonds since 1997. Today we are among the largest investors in the market, with an expert municipal bond team constantly analyzing macro-economic, technical, and fundamental trends within the marketplace.

Our Expertise

The fund is managed by David Hammer, an executive vice president and head of municipal bond portfolio management at PIMCO. He is supported by PIMCO’s dedicated municipal bond portfolio team, robust credit resources and significant market presence.

PRIMARY BENCHMARK

Bloomberg Barclays New York Municipal Bond Index

PRIMARY BENCHMARK DESCRIPTION

The Bloomberg Barclays New York Municipal Bond Index is the New York component of the Bloomberg Barclays Municipal Bond Index, which consists of a broad selection of investment grade general obligation and revenue bonds of maturities ranging from one year to 30 years. It is an unmanaged index representative of the tax-exempt bond market. The index is made up of all investment-grade municipal bonds issued after 12/31/90 having a remaining maturity of at least one year. It is not possible to invest directly in an unmanaged index.

DIVIDEND FREQUENCY

Monthly with Daily Accrual

SHARE CLASS INCEPTION

11/19/2010

CUSIP

72201M347

RELATED

Managers

David Hammer

Head of Municipal Bond Portfolio Management

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Yields & Distributions