PIMCO California Municipal Income Fund Announces Earnings Results for the Second Quarter and Six Months Ended October 31, 2013
December 30, 2013 at 09:00 pm
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PIMCO California 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 $4,646,037 or $0.25 per common share compared to $4,676,069 or $0.25 per common share reported in the same period last year. Net realized and change in unrealized gain was $2,251,207 or $0.13 per common share against $3,570,623 or $0.19 per common share reported last year. Net asset value as at October 31, 2013 was $12.93 compared to $14.39 as at October 31, 2012.
For the six months, the company reported net investment income of $9,239,640 or $0.50 per common share compared to $9,420,459 or $0.51 per common share reported in the same period last year. Net realized and change in unrealized loss was $33,595,752 or $1.81 per common share against net realized and change in unrealized gain of $11,168,834 or $0.60 per common share reported last year.
PIMCO California Municipal Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is 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 is 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 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 Moody's Investors Service, Inc., S&P Global Ratings or Fitch, Inc. or lower or that are unrated but judged to be of comparable quality by Pacific Investment Management Company LLC (PIMCO). The Fund portfolio allocations include ad valorem property tax, sales tax revenue and general fund. The Fund's investment manager is PIMCO.
PIMCO CALIFORNIA MUNICIPAL INCOME FUND 
