PIMCO Municipal Income Fund III Reports Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2012
November 01, 2012 at 02:30 am IST
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PIMCO Municipal Income Fund III reported earnings results for the fourth quarter and full year ended September 30, 2012. For the quarter, the company's net investment income was $6,499,749 or $0.20 per share against $7,058,767 or $0.22 per share a year ago. Net realized and change in unrealized gain was $13,472,852 or $0.41 per share against $7,851,008 or $0.24 per share a year ago.
For the year, the company's net investment income was $26,851,939 or $0.83 per share against $28,086,793 or $0.87 per share a year ago. Net realized and change in unrealized gain was $43,782,777 or $1.35 per share against net realized and change in unrealized loss of $19,655,075 or $0.61 per share a year ago. Net asset value per share as on September 30, 2012 was $11.02 compared to $9.69 as on September 30, 2011.
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 
