PIMCO California Municipal Income Fund III Reports Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2013
November 30, 2013 at 02:30 am IST
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PIMCO California Municipal Income Fund III reported earnings results for the fourth quarter and full year ended September 30, 2013. For the quarter, the company reported net investment income of $5,230,748 or $0.24 per common share against $2,935,394 or $0.13 per common share a year ago. Net realized and change in unrealized loss was $8,728,179 or $0.40 per common share against net realized and changes in unrealized gain of $7,095,317 or $0.32 per common share a year ago.
For the year, the company reported net investment income of $17,355,517 or $0.79 per common share against $17,843,450 or $0.81 per common share a year ago. Net realized and change in unrealized loss was $26,465,216 or $1.20 per common share against net realized and changes in unrealized gain of $23,405,012 or $1.07 per common share a year ago.
PIMCO California Municipal Income Fund III (the Fund) is a closed-end management investment company. The Fundâs investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the fund will invest at least 90% of its net assets in municipal bonds which pay interest that are 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 invests at least 80% of its net assets in municipal bonds that, at the time of investment, are investment grade quality. 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 Moodyâs, S&P or Fitch or lower or that are unrated but judged to be of comparable quality by PIMCO. Pacific Investment Management Company LLC serves as the Fund's investment manager.
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III 
