PIMCO Global StocksPLUS & Income Fund : PIMCO Global StocksPLUS® & Income Fund Reports Results for the Fiscal Quarter and Nine Months Ended December 31, 2013
February 28, 2014 at 09:01 pm
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PIMCO Global StocksPLUS® & Income Fund (the "Fund")
(NYSE:PGP), a non-diversified, closed-end management investment company
which seeks total return comprised of current income, current gains and
long-term capital appreciation, today announced its results for the
fiscal quarter and nine months ended December 31, 2013.
At December 31,
2013
2012
Net Assets
$154,948,601
$139,150,720
Shares Outstanding
10,403,162
10,322,796
Net Asset Value ("NAV")
$14.89
$13.48
Market Price
$23.11
$17.83
Premium to NAV
55.20%
32.27%
Overdistributed Net Investment Income Per Share (b)
$(0.3073)
$(0.1885)
Quarter ended December 31,
2013
2012
Net Investment Income (a)
$3,419,051
$3,505,271
Per Share (a)
$0.33
$0.34
Net Realized and Change in Unrealized Gain (a)
$8,522,541
$6,342,736
Per Share (a)
$0.83
$0.63
Nine Months ended December 31,
2013
2012
Net Investment Income (a)
$10,845,771
$10,550,311
Per Share (a)
$1.05
$1.03
Net Realized and Change in Unrealized Gain (a)
$11,815,300
$15,293,903
Per Share (a)
$1.17
$1.53
(a) The information provided is in accordance with generally
accepted accounting principles ("GAAP"), which requires the Fund to
treat amounts accrued by the Fund under swap agreements as net
realized and unrealized gain (loss). However, these amounts are
treated as net investment income (loss) for federal income tax
purposes. By using GAAP, Net Investment Income for the fiscal
quarter and nine months ended December 31, 2013 was $1,898,784
($0.18 per share) and $4,503,811 ($0.43 per share) lower,
respectively, and Net Realized and Change in Unrealized Gain
correspondingly higher than those figures would have been if swap
amounts were treated as net investment income. By using GAAP, Net
Investment Income for the fiscal quarter and nine months ended
December 31, 2012 was $1,344,657 ($0.12 per share) and $3,784,074
($0.37 per share) lower, respectively, and Net Realized and Change
in Unrealized Gain correspondingly higher than those figures would
have been if swap amounts were treated as net investment income.
(b) Since the Fund's net earning rates fluctuate from month to
month, there will be periods when the Fund may over-earn or
under-earn its monthly dividend rate. This fluctuation will have
the effect of adding to or subtracting from the Fund's
overdistributed net investment income balance. Fund management
analyzes the current and projected net earning rates prior to
recommending dividend amounts to the Fund's Board of Trustees for
declaration. There can be no assurance that the monthly dividend
rate will remain at its current level or that the undistributed
net investment income balance, if any, will be sufficient to cover
any shortfall in earnings to meet the current dividend rate. The
overdistributed net investment income balance is inclusive of swap
income (or loss), paydown gains and net gain (or loss) from
foreign currency transactions in accordance with federal income
tax treatment of these items.
Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect,
wholly-owned subsidiary of Allianz Asset Management of America L.P.,
serves as the Fund's investment manager and is a member of Munich-based
Allianz Group. Pacific Investment Management Company LLC, an AGIFM
affiliate, serves as the Fund's sub-adviser.
The Fund's daily New York Stock Exchange closing market price, NAV, as
well as other information, are available at us.allianzgi.com/closedendfunds
or by calling the Fund's shareholder servicing agent at (800) 254-5197.
The financial information contained herein is solely based upon the data
available at the time of publication of this press release, and there is
no assurance that any future results will be the same or similar to what
is reported herein. Information that was obtained from third party
sources we believe to be reliable is not guaranteed as to its accuracy
or completeness. This press release contains no recommendations to buy
or sell any specific securities and should not be considered investment
advice of any kind. Past performance is no guarantee of future results
and the investment returns generated by the Fund will fluctuate. There
can be no assurance the Fund will meet its stated objective. In making
any investment decision, individuals should utilize other information
sources and the advice of their own professional adviser.
For Information on PIMCO Closed-End Funds: Financial
Advisors: 800-628-1237 Shareholders: 800-254-5197 Media
Relations: 212-739-3501
PIMCO Global StocksPLUS & Income Fund (the Fund) is a closed-end management investment company. The Fund's investment objective is to seek total return comprised of current income, current gains, and long-term capital appreciation. The Fund invests, under normal market conditions, at least 80% of its managed assets in a combination of securities and instruments that provide exposure to stocks and/or produce income. The Fund may engage in investment strategies, including those that employ the use of paired swaps transactions, the use of interest rate swaps to seek to capitalize on differences between short-term and long-term interest rates and other derivatives transactions. The Fund invests in securities, such as corporate bonds and notes, United States government agencies, loan participations and assignments, short-term instruments, non-agency mortgage-backed securities, asset-backed securities, and other. The Fund's investment manager is Pacific Investment Management Company LLC.
PIMCO Global StocksPLUS & Income Fund : PIMCO Global StocksPLUS® & Income Fund Reports Results for the Fiscal Quarter and Nine Months Ended December 31, 2013