PIMCO Municipal Income Fund III Announces Earnings Results for the Second Quarter and Six Months Ended March 31, 2014
May 30, 2014 at 04:00 pm EDT
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PIMCO Municipal Income Fund III announced earnings results for the second quarter and six months ended March 31, 2014. For the quarter, the company reported net investment income of $6,280,680 or $0.19 per share against $6,161,587 or $0.19 per share a year ago. Net realized and change in unrealized gain was $23,556,405 or $0.73 per share against net realized and change in unrealized loss of $4,202,151 or $0.12 per share a year ago.
For the six months, the company reported net investment income of $12,200,258 or $0.37 per share against $12,521,133 or $0.39 per share a year ago. Net realized and change in unrealized gain was $18,700,367 or $0.58 per share against $2,888,642 or $0.09 per share a year ago. Net asset value as at March 31, 2014 was $10.11 against $11.07 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 
