PIMCO California Municipal Income Fund III Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2014
May 30, 2014 at 09:00 pm
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PIMCO California Municipal Income Fund III reported earnings results for the second quarter and six months ended March 31, 2014. For the quarter, the company reported net realized and change in unrealized gain was $13,521,401 or $0.62 per share against net realized and change in unrealized loss of $4,130,579 or $0.19 per share a year ago. Net investment income was $3,800,214 or $0.16 per share against $6,176,242 or $0.29 per share a year ago.
For six months, the company reported net realized and change in unrealized gain was $10,124,283 or $0.46 per share against net realized and change in unrealized loss of $681,674 or $0.03 per share a year ago. Net investment income was $7,659,441 or $0.34 per share against $9,531,506 or $0.44 per share a year ago. As on date, net asset value was $9.53 against $10.27 a year ago.
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 
