PIMCO High Income Fund Announces Earnings Results for the Fourth Quarter and Year Ended March 31, 2014
May 30, 2014 at 09:00 pm
Share
PIMCO High Income Fund announced earnings results for the fourth quarter and year ended March 31, 2014. For the quarter, the company reported net investment income of $32,798,497 or $0.27 per common share against net investment income of $14,685,580 or $0.11 per common share for the corresponding period last year. Net realized and change in unrealized gain was $42,951,689 or $0.34 per common share against net realized and change in unrealized gain of $51,594,268 or $0.43 per common share of prior year period. By using GAAP, the company's net investment income for the quarter was $11,570,531 or $0.09 per common share compared with $23,239,900 or $0.19 per common share a year ago.
For the year, the company reported net investment income of $103,264,121 or $0.84 per common share against net investment income of $100,048,819 or $0.81 per common share for the last year. Net realized and change in unrealized gain was $22,728,229 or $0.20 per common share against net realized and change in unrealized gain of $171,094,562 or $1.43 per common share of prior year period. By using GAAP, the company's net investment income for the year was $68,759,035 or $0.55 per common share compared with $60,982,479 or $0.50 per common share a year ago. As on March 31, 2014, the company's net asset value per share was $8.23.
PIMCO High Income Fund (Fund) is a closed-end management investment company. The Fund seeks to achieve its investment objectives by utilizing a dynamic asset allocation strategy among multiple fixed income sectors in the global credit markets, which include corporate debt, such as fixed-, variable- and floating-rate bonds, bank loans, convertible securities and stressed debt securities issued by United States (US) or foreign (non-US) corporations or other business entities, including emerging market issuers; mortgage-related and other asset-backed securities; government and sovereign debt; taxable municipal bonds, and other securities, including emerging of the issuer's credit characteristics, forecast for interest rates and outlook for particular countries/regions, currencies, industries, sectors and the global economy and bond markets generally. The investment manager of the Fund is Pacific Investment Management Company LLC.