PIMCO Municipal Income Fund III Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2012
May 31, 2012 at 01:30 am IST
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PIMCO Municipal Income Fund III reported earnings results for the second quarter and six months ended March 31, 2012. For the quarter, the company reported net investment income of $6,679,024 or $0.21 per common share against $7,113,763 or $0.22 per common share for the same period a year ago. Net realized and change in unrealized gain was $14,827,827 against net realized and change in unrealized loss of $8,568,128 for the same period a year ago.
For the six months, the company reported net investment income of $13,457,709 or $0.42 per common share against $13,991,755 or $0.43 per common share for the same period a year ago. Net realized and change in unrealized gain was $22,604,752 against net realized and change in unrealized loss of $50,893,164 for the same period a year ago. Net asset value as at March 31, 2012 was $10.38 against $8.71 as at March 31, 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 
