PIMCO California Municipal Income Fund, PIMCO Municipal Income Fund II, and PIMCO New York Municipal Income Fund II filed a joint definitive proxy statement on November 3, 2026, calling shareholders to a joint annual meeting on December 15, 2026, to vote on the election and re-election of trustees.

Key Highlights

  • Three closed-end funds involved: PCQ, PML, and PNI are each managed by Pacific Investment Management Company LLC and hold tax-exempt municipal bond portfolios.
  • Meeting date and location: The joint annual meeting is scheduled for December 15, 2026, at 8:00 A.M. Pacific Time, at PIMCO's offices at 650 Newport Center Drive, Newport Beach, California 92660.
  • Record date: October 16, 2026, was set as the record date for shareholders entitled to notice and voting rights.
  • Outstanding shares at record date: PML had 125,502,528.56 common shares and 4,858 preferred shares; PCQ had 56,184,697.90 common shares and 2,419 preferred shares; PNI had 23,906,793.02 common shares and 760 preferred shares.
  • Trustee nominees: Sonya Morris is nominated for election exclusively by preferred shareholders; Alan Rappaport and David Flattum are nominated for re-election by both common and preferred shareholders voting together.
  • Interested trustee: David Flattum is identified as an "interested person" of each Fund under Section 2(a)(19) of the Investment Company Act of 1940 due to his affiliation with PIMCO and its affiliates, and he receives no compensation from the Funds for his trustee service.
  • Preferred share class: Each Fund's preferred shares consist of Remarketable Variable Rate Municipal Term Preferred Shares (RVMTPS).

Trustee Election Structure Across Three PIMCO Municipal Closed-End Funds

According to the filing, the joint proxy statement covers three closed-end funds - PCQ, PML, and PNI - each managed by Pacific Investment Management Company LLC. The funds' principal executive offices are located at 1633 Broadway, New York, New York 10019. Each fund holds two classes of shares: common shares and Remarketable Variable Rate Municipal Term Preferred Shares. The filing notes that the outcome of voting by shareholders of one fund does not affect the outcome for the other funds, and there is no shareholder statutory right of appraisal or dissent with respect to any matters to be voted on.

The filing describes a bifurcated voting structure for the trustee election. Common and preferred shareholders of each fund, voting together as a single class, may vote on the re-election of Alan Rappaport and David Flattum. Only preferred shareholders, voting as a separate class, may vote on the election of Sonya Morris as a trustee of each fund. The filing designates the preferred shares trustee role as one voted on exclusively by preferred shareholders. David Flattum is described as an "interested person" of each fund as defined in the 1940 Act, owing to his affiliation with PIMCO, and the filing states he does not receive compensation from the funds for his service as trustee.

Shareholders may cast their votes by mail, internet, telephone, or in person at the December 15, 2026 meeting. The filing states that proxy materials and annual reports for the fiscal year ended December 31, 2025 are available at pimco.com/closedendfunds. Proxies submitted without a choice indicated will be voted in favor of election or re-election of all nominees, according to the filing. Shareholders may revoke a proxy before it is voted by submitting a signed written letter of revocation, filing a later-dated proxy, or attending the meeting and voting in person.

What Was Disclosed

The filing is a joint definitive proxy statement by PCQ (NYSE:PCQ), PML (NYSE:PML), and PNI (NYSE:PNI) soliciting shareholder votes for a December 15, 2026 annual meeting. The sole substantive proposal is the election and re-election of three trustees, with voting rights divided between common and preferred shareholders depending on the nominee.