PIMCO Municipal Income Fund III Reports Earnings Results for the Fourth Quarter and Year Ended September 30, 2013
November 29, 2013 at 09:00 pm
Share
PIMCO Municipal Income Fund III reported earnings results for the fourth quarter and year ended September 30, 2013. For the quarter, net investment income was $5,903,455 or $0.18 per common share against $6,499,749 or $0.20 per common share a year ago. Net realized and change in unrealized loss was $14,229,586 or $0.44 per common share against net realized and change in unrealized gain of $13,472,852 or $0.41 per common share a year ago.
For the year, net investment income was $24,445,921 or $0.75 per common share against $26,851,939 or $0.83 per common share a year ago. Net realized and change in unrealized loss was $43,723,590 or $1.34 per common share against net realized and change in unrealized gain of $43,782,777 or $1.35 per common share a year ago. Net asset value as on September 30, 2013, was $9.58 per share against $11.02 a year ago.
PIMCO Municipal Income Fund III (the Fund) is a closed-end management investment company. The Fund's investment objective is to seek to provide current income exempt from federal income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal 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 or bonds that are unrated but determined to be of comparable quality by the Fund. The Fund invests in various sectors, such as state/local government, education, hospital, housing, lease, power, transportation, special tax, water and sewer, tobacco, mortgage and resource recovery. The Fund's investment manager is Pacific Investment Management Company LLC.
PIMCO MUNICIPAL INCOME FUND III 
