PNYNX

About PNYNX

PIMCO New York Municipal Bond Fund I-3 is an open-end mutual fund that primarily seeks to provide investors with high current income that is exempt from both regular federal and New York state income taxes. The fund achieves its objective by investing at least 80% of its assets in debt securities, specifically New York municipal bonds, which are issued by entities within the state of New York and are generally backed by the credit and taxing power of the issuing municipality. This structure targets individual and institutional investors who are residents of New York or subject to its income tax, offering a potential tax-advantaged income stream. The fund typically holds a diversified portfolio of over 200 municipal securities, with careful credit selection and active risk management. In addition to its income focus, capital appreciation is a secondary objective. Dividend distributions are made monthly, aligning with the preferences of investors seeking regular cash flows. Managed by PIMCO, a leading fixed income investment manager, this fund plays a specialized role in the municipal bond market by providing targeted exposure to New York municipal securities, thereby assisting investors in managing both income needs and tax considerations.