PIMCO California Municipal Income Fund III
PZC
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- David Hammer
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 650 Newport Center Drive Newport Beach CA United States of America 92660
- IPO Date
- Oct 29, 2002
- CIK
- 0001181504
- Website
- investments.pimco.com
- Similar Companies
- Business
- PIMCO California Municipal Income Fund III (NYSE: PZC) is a closed-end fixed income mutual fund that seeks to provide current income exempt from regular federal and California income taxes. The fund invests at least 90% of its net asset value in municipal bonds paying interest exempt from federal and California income taxes; it may allocate up to 20% of total assets to investments subject to the federal alternative minimum tax. Its portfolio primarily comprises California municipal bonds and notes, California variable rate notes and demand notes, other municipal bonds and notes, variable rate demand notes, U.S. Treasury bills, written call options, and written put options. Launched and managed by Allianz Global Investors Fund Management LLC and co-managed by Pacific Investment Management Company LLC (PIMCO), with portfolio managers David Hammer and Kyle Christine, the fund targets investors seeking tax-exempt income from California-focused municipal securities. Headquartered in Newport Beach, California, it operates within the municipal bond segment of the fixed income market, serving individual and institutional investors primarily in the United States with a focus on California residents. In a major strategic reorganization completed on August 1, 2025, PIMCO California Municipal Income Fund III merged with and into PIMCO California Municipal Income Fund (NYSE: PCQ), alongside PIMCO California Municipal Income Fund II (NYSE: PCK); this consolidation absorbed PZC's assets and liabilities into PCQ following shareholder approval in June 2025. The transaction streamlined PIMCO's California municipal income fund lineup, enhancing scale and operational efficiency without altering the core tax-exempt income objective for the surviving entity. No other significant acquisitions, partnerships, funding rounds, or product launches were reported for PZC in the 1-2 years prior to the merger.