<DOCUMENT>
<TYPE>EX-99.77D POLICIES
<SEQUENCE>4
<FILENAME>r77d_ny_muniII.txt
<DESCRIPTION>OTHER
<TEXT>
Effective October 6 2015 New York Municipal Income Fund II
Fund adopted the following nonfundamental investment policy

The staff of the SEC has taken the position that purchased OTC
options and the assets used as cover for written OTC options
should generally be treated as illiquid. However, the staff of
the SEC has also taken the position that the determination of
whether a particular instrument is liquid should be made under
guidelines and standards established by a funds board of
trustees The SEC staff has provided examples of factors that
may be taken into account in determining whether a particular
instrument should be treated as liquid Pursuant to policies
adopted by the Funds Board of Trustees purchased OTC options and
the assets used as cover for OTC options written by a Fund may be
treated as liquid under certain circumstances such as when PIMCO has
the contractual right to terminate or close out the OTC option on
behalf of a Fund within seven days These policies are not fundamental
policies of the Funds and may be changed or modified by the Board of
Trustees without the approval of shareholders provided that any such
change or modification will be consistent with applicable positions
of the SEC staff
</TEXT>
</DOCUMENT>
