UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-21187 PIMCO Municipal Income Fund III (Exact name of registrant as specified in charter) 1345 Avenue of the Americas, New York, NY 10105 (Address of Principal Executive Office) Allianz Global Investors Fund Management LLC 1345 Avenue of the Americas New York, NY 10105 (Name and Address of Agent for Service) Registrant's telephone number, including area code: 212-739-3000 Date of fiscal year end: September 30 Date of reporting period: July 1, 2009 through June 30, 2010 ITEM 1. PROXY VOTING RECORD ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-21187 Reporting Period: 07/01/2009 - 06/30/2010 PIMCO Municipal Income Fund III ======================= PIMCO MUNICIPAL INCOME FUND III ======================== There is no proxy voting activity for the fund, as the fund did not hold any votable positions during the reporting period. ========== END NPX REPORT SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant): PIMCO Municipal Income Fund III By (Signature and Title)*: /s/ Brian Shlissel -------------------------------------------- Name: Brian Shlissel Title: President and Chief Executive Officer Date: August 31, 2010 * Print the name and title of each signing officer under his or her signature.