PCM Fund Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2013
August 30, 2013 at 09:00 pm
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PCM Fund Inc. announced earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported net investment income of $3,147,510 or $0.27 per share against $3,540,100 or $0.30 per share a year ago. Net realized and change in unrealized loss was $4,393,827 or $0.37 per share against $354,401 or $0.02 per share a year ago.
For the six months period, the company reported net investment income of $6,379,164 or $0.55 per share against $6,124,872 or $0.53 per share a year ago. Net realized and change in unrealized loss was $1,480,473 or $0.12 per share against net realized and change in unrealized profit of $8,243,000 or $0.73 per share a year ago. Net asset value per share was $11.30 against $10.26 a year ago.
PCM Fund, Inc. is a closed-end management investment company. The Fundâs primary investment objective is to achieve high current income. Capital gain from the disposition of investments is a secondary objective of the Fund. The Fund has the ability to invest in agency-guaranteed mortgage-backed securities, private label (non-agency) mortgage-backed securities, investment grade corporate debt securities, high yield corporate debt securities and commercial mortgage-backed securities. The Fund invests in asset-backed securities, non agency mortgage-backed securities, corporate bonds and notes, short-term instruments, loan participations and assignments, united sates government agencies, common stocks and other. Additionally, the fund may invest in credit derivatives, such as credit default swaps, and other derivative instruments for gaining synthetic exposures. It may invest without limit in securities. Its investment manager is Pacific Investment Management Company LLC.