PIMCO Municipal Income Fund III Announces Earnings Results for the Third Quarter and Nine Months Ended June 30, 2013
August 31, 2013 at 01:30 am IST
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PIMCO Municipal Income Fund III announced earnings results for the third quarter and nine months ended June 30, 2013. For the quarter, the company reported net investment income of $6,021,333 or $0.18 per share against $6,894,481 or $0.21 per share a year ago. Net realized and change in unrealized loss was $32,382,646 or $0.99 per share against net realized and change in unrealized gain of $7,705,173 or $0.24 per share a year ago.
For the nine months, the company reported net investment income of $18,542,466 or $0.57 per share against $20,352,190 or $0.63 per share a year ago. Net realized and change in unrealized loss was $29,494,004 or $0.90 per share against net realized and change in unrealized gain of $30,309,925 or $0.94 per share a year ago. Net asset value as at June 30, 2013 was $10.05 against $10.62 as at June 30, 2012.
PIMCO Municipal Income Fund III (the Fund) is a closed-end management investment company. The Fund's investment objective is to seek to provide current income exempt from federal income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal 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 or bonds that are unrated but determined to be of comparable quality by the Fund. The Fund invests in various sectors, such as state/local government, education, hospital, housing, lease, power, transportation, special tax, water and sewer, tobacco, mortgage and resource recovery. The Fund's investment manager is Pacific Investment Management Company LLC.
PIMCO MUNICIPAL INCOME FUND III 
