PIMCO New York Municipal Income Fund Announces Earnings Results for the Third Quarter and Nine Months Ended January 31, 2014
March 31, 2014 at 04:00 pm EDT
Share
PIMCO New York Municipal Income Fund announced earnings results for the third quarter and nine months ended January 31, 2014. For the quarter, the company reported net investment income of $1,366,985 or $0.18 per common share compared to $1,394,907 or $0.18 per common share a year ago. Net realized and change in unrealized gain was $885,006 or $0.12 per common share against $450,743 or $0.05 per common share reported last year. Net asset value as at January 31, 2014 was $10.68 compared to $12.07 as at January 31, 2013.
For the nine months, the company reported net investment income of $3,940,536 or $0.51 per common share compared to $4,084,562 or $0.53 per common share a year ago. Net realized and change in unrealized loss was $10,401,319 or $1.35 per common share against net realized and change in unrealized gain of $5,268,612 or $0.68 per common share reported last year.
PIMCO New York Municipal Income Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide current income exempt from federal, New York State and New York City 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, New York State and New York City 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 (Baa or higher by Moodyâs Investors Service, Inc. or BBB or better by S&P Global Ratings or Fitch, Inc.), or bonds that are unrated but determined to be of comparable quality by Pacific Investment Management Company LLC (PIMCO). The Fund's investment manager is PIMCO.
PIMCO NEW YORK MUNICIPAL INCOME FUND 
