PIMCO California Municipal Income Fund III Announces Earnings Results for the Third Quarter and Nine Months Ended June 30, 2012
August 23, 2012 at 09:00 pm
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PIMCO California Municipal Income Fund III announced earnings results for the third quarter and nine months ended June 30, 2012. For the quarter, the company reported net investment income of $5,500,293 or $0.25 per common share compared to $4,266,201 or $0.20 per common share for the same period a year ago. Net realized and change in unrealized gain was $2,196,345 or $0.10 per common share compared to $14,530,985 or $0.67 per common share for the same period a year ago.
For the nine months, the company reported net investment income of $14,908,056 or $0.68 per common share compared to $12,646,460 or $0.58 per common share for the same period a year ago. Net realized and change in unrealized gain was $16,309,695 or $0.75 per common share compared to net realized and change in unrealized loss of $21,469,969 or $0.98 per common share for the same period a year ago. Net asset value per share as at June 30, 2012 was $9.96 compared to $8.69 as at June 30, 2011.
PIMCO California Municipal Income Fund III (the Fund) is a closed-end management investment company. The Fundâs investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the fund will invest at least 90% of its net assets in municipal bonds which pay interest that are exempt from regular federal and California 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. The fund may invest up to 20% of its net assets in municipal bonds that are, at the time of investment, rated Ba/BB or B by Moodyâs, S&P or Fitch or lower or that are unrated but judged to be of comparable quality by PIMCO. Pacific Investment Management Company LLC serves as the Fund's investment manager.
PIMCO CALIFORNIA MUNICIPAL INCOME FUND III 
