PIMCO CALIFORNIA MUNICIPAL INCOME FUND

PIMCO California Municipal Income Fund operates as a closed-end fixed income fund focused on California municipal bonds. The fund is launched and managed by Allianz Global Investors Fund Management LLC, with co-management from Pacific Investment Management Company LLC. It invests primarily in municipal bonds issued by California entities, seeking to provide income to shareholders with exposure to the state's municipal debt markets.

The fund's portfolio concentrates on fixed income securities within the United States, emphasizing California municipal obligations. This narrow geographic and sector focus distinguishes it from broadly diversified municipal bond funds, positioning it for investors seeking California-specific tax benefits and exposure. The fund was established in June 2001 and is incorporated in Massachusetts, though domiciled in New York.

With a market capitalization of approximately $200 million, the fund represents a modest-sized vehicle within the municipal bond fund category. As a closed-end fund structure listed on the NYSE, it trades at market-determined prices rather than operating at net asset value. Distribution income derived from the underlying municipal bond portfolio constitutes the primary revenue stream for shareholders.