Fri, May 7, 2010
Thu, May 6, 2010
Mon, January 11, 2010
Sun, January 10, 2010
Sat, January 9, 2010
Fri, January 8, 2010
Thu, January 7, 2010
Wed, January 6, 2010
Tue, January 5, 2010
Mon, January 4, 2010
[ Mon, Jan 04th 2010 ]: Market Wire
AXMIN Update

PIMCO Municipal Income Fund Reports Results for the Fiscal Quarter and Six Months Ended October 31, 2009

  Copy link into your clipboard //business-finance.news-articles.net/content/201 .. uarter-and-six-months-ended-october-31-2009.html
  Print publication without navigation Published in Business and Finance on by Market Wire
          🞛 This publication is a summary or evaluation of another publication

NEW YORK--([ BUSINESS WIRE ])--PIMCO Municipal Income Fund (the "Fund") (NYSE: PMF), a non-diversified closed-end management investment company which seeks to provide current income exempt from federal income tax, today announced its results for the fiscal quarter and six months ended October 31, 2009.

 

At October 31,

2009

 

2008

Net Assets (a) $469,203,075 $448,117,130
Common Shares Outstanding 24,973,007 24,846,370
Net Asset Value ("NAV") $11.18 $9.99
Market Price $12.37 $11.70
Premium to NAV 10.64 % 17.12 %
Undistributed (Overdistributed) Net Investment
Income Per Common Share (b) $0.0954 $(0.0918 )
 
 

Quarter ended October 31,

2009

2008

Net Investment Income $7,215,342 $6,726,859
Per Common Share $0.29 $0.28
Net Realized and Change in Unrealized Gain (Loss) $32,268,027 $(63,712,730 )
Per Common Share $1.30 $(2.56 )
 

Six Months ended October 31,

2009

2008

Net Investment Income $14,883,522 $13,676,087
Per Common Share $0.60 $0.56
Net Realized and Change in Unrealized Gain (Loss) $42,549,671 $(71,755,045 )
Per Common Share $1.71 $(2.88 )

(a) Net assets are inclusive of market value of Preferred Shares of $190 million and $200 million at October 31, 2009 and October 31, 2008, respectively.

(b) Since net earning rates fluctuate from month to month while monthly dividends have remained relatively stable, there will be periods when the Fund may over-earn or under-earn its monthly dividend, which would have the effect of adding to or subtracting from the Fund's undistributed (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 current dividend rate or the undistributed (overdistributed) net investment income balance will remain constant.

  Top 5 State Positions at October 31, 2009
(as a percentage of investments)
Texas 8.9%
California 8.1
Illinois 7.0
New York 6.3
Pennsylvania 5.9

Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect, wholly-owned subsidiary of Allianz Global Investors 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 affiliate of AGIFM, serves as the Fund's sub-adviser.

The Fund's daily New York Stock Exchange closing price, net asset value per share, as well as other information, is available at [ http://www.allianzinvestors.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 that the Fund will meet its stated objective. The Fund's ability to pay dividends to common shareholders is subject to the restrictions in its registration statement, by-laws and other governing documents, as well as the Investment Company Act of 1940. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.