PIMCO California Municipal Income Fund Announces Earnings Results for the Third Quarter and Nine Months Ended January 31, 2014
March 01, 2014 at 01:30 am IST
Share
PIMCO California Municipal Income Fund announced earnings results for the third quarter and nine months ended January 31, 2014. For the quarter, the company reported net investment income of $4,705,409 or $0.25 per common share compared to $4,807,115 or $0.26 per common share a year ago. Net realized and change in unrealized gain was $5,638,785 or $0.30 per common share against $3,815,953 or $0.21 per common share reported last year. Net asset value as at January 31, 2014 was $13.25 compared to $14.62 as at January 31, 2013.
For the nine months, the company reported net investment income of $13,945,049 or $0.75 per common share compared to $14,227,574 or $0.77 per common share a year ago. Net realized and change in unrealized loss was $27,956,967 or $1.51 per common share against net realized and change in unrealized gain of $14,984,787 or $0.81 per common share reported last year.
PIMCO California Municipal Income Fund (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 will invest at least 90% of its net assets in municipal bonds which pay interest that 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 but judged to be of comparable quality by Pacific Investment Management Company LLC (PIMCO). The Fund portfolio allocations include ad valorem property tax, sales tax revenue and general fund. The Fund's investment manager is PIMCO.
PIMCO CALIFORNIA MUNICIPAL INCOME FUND 
