PIMCO New York Municipal Income Fund Announces Earnings Results for the Second Quarter and Six Months Ended October 31, 2013
December 31, 2013 at 02:30 am IST
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PIMCO New York Municipal Income Fund announced earnings results for the second quarter and six months ended October 31, 2013. For the quarter, the company reported net investment income of $1,255,365 or $0.16 per common share compared to $1,305,182 or $0.17 per common share reported in the same period last year. Net realized and change in unrealized gain was $1,261,719 or $0.17 per common share against $1,119,919 or $0.15 per common share reported last year. Net asset value as at October 31, 2013 was $10.56 compared to $12.01 as at October 31, 2012.
For the six months, the company reported net investment income of $2,573,551 or $0.33 per common share compared to $2,689,655 or $0.35 per common share reported in the same period last year. Net realized and change in unrealized loss was $11,286,325 or $1.47 per common share against net realized and change in unrealized gain of $4,817,869 or $0.63 per common share reported last year.
PIMCO New York Municipal Income Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal, New York State and New York City 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, New York State and New York City 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 (Baa or higher by Moodyâs Investors Service, Inc. or BBB or better by S&P Global Ratings or Fitch, Inc.), or bonds that are unrated but determined to be of comparable quality by Pacific Investment Management Company LLC (PIMCO). The Fund's investment manager is PIMCO.
PIMCO NEW YORK MUNICIPAL INCOME FUND 
