PIMCO California Municipal Income Fund II Reports Earnings Results for the Third Quarter and Nine Months Ended February 29, 2012
April 28, 2012 at 01:30 am IST
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PIMCO California Municipal Income Fund II reported earnings results for the third quarter and nine months ended February 29, 2012. For the quarter, the company reported net investment income of $5,410,675 or $0.16 per against $5,753,790 or $0.18 per share for the same period a year ago. Net realized and change in unrealized gain of $27,252,562 or $0.87 per share compared to net realized and change in unrealized loss of $22,411,838 or $0.72 per share for the same period last year. Net asset value as at February 29, 2012 was $8.48 compared to net asset value of $7.02 as at February 28, 2011.
For the nine months, the company reported net investment income of $16,716,732 or $0.53 per against $17,088,717 or $0.55 per share for the same period a year ago. Net realized and change in unrealized gain of $35,673,298 or $1.14 per share compared to net realized and change in unrealized loss of $33,176,173 or $1.06 per share for the same period last year.
PIMCO California Municipal Income Fund II (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that, in the opinion of bond counsel to the issuer, is exempt from regular federal and California income taxes. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund may invest up to 20% of its net assets in municipal bonds that are, at the time of investment, rated Ba/BB or B by Moody's Investors Service, Inc., S&P Global Ratings or Fitch, Inc. or lower or that are unrated. The Fund invests in various sectors, including health, hospital and nursing, and port, airport and marina. The Fund's investment manager is Pacific Investment Management Company LLC.
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II 
