NEW YORK, Dec. 15, 2005 (PRIMEZONE) -- The Boards of Trustees of PIMCO Floating Rate Strategy Fund ("PFN") (NYSE:PFN) and Nicholas-Applegate Convertible & Income Fund II ("NCZ") (NYSE:NCZ) (the "Funds") announced today that effective January 1, 2006 they will change their fiscal year-ends.
PFN will change its fiscal year-end from August 31st to July 31st and NCZ will change its fiscal year-end from June 30th to February 28th.
The Funds are closed-end management investment companies. PFN seeks high current income consistent with the preservation of capital. NCZ seeks to provide total return through a combination of capital appreciation and high current income.
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC ("PIMCO") serves as sub-adviser to PFN. Nicholas-Applegate Capital Management LLC ("NACM") serves as sub-adviser to NCZ. Both PIMCO and NACM are affiliates of Allianz Global Investors Fund Management.
The Funds' daily New York Stock Exchange closing prices and most recently calculated net asset values per share as well as other information is available at www.allianzinvestors.com or by calling the Funds' transfer agent at 800-331-1710.
The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to what is reported herein. Information that was obtained from third party sources we believe to be reliable is no guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Funds will fluctuate. In making any investment decision, individuals should utilize other information sources and the advice of their own professional advisor.