9-30-13 4:00 PM EDT | Email Article

PIMCO Income Opportunity Fund (the "Fund") (NYSE: PKO), a non-diversified, closed-end management investment company which seeks current income as a primary focus and also capital appreciation, today announced its results for the fiscal quarter and nine months ended July 31, 2013.

     
At July 31,
2013       2012
Net Assets $418,391,883 $381,832,221
Shares Outstanding 14,878,418 14,761,406
Net Asset Value ("NAV") $28.12 $25.87
Market Price $26.98 $28.61
Premium (Discount) to NAV -4.05% 10.59%
Undistributed Ordinary Income Per Share (b) $0.3179 $0.5788
 
 
Quarter ended July 31,
2013 2012
Net Investment Income (a) $4,942,315 $6,184,496
Per Share (a) $0.33 $0.43
Net Realized and Change in Unrealized Gain (Loss) (a) $(18,895,196) $14,742,761
Per Share (a) $(1.27) $0.99
 
 
Nine Months ended July 31,
2013 2012
Net Investment Income (a) $25,831,603 $25,506,056
Per Share (a) $1.74 $1.74
Net Realized and Change in Unrealized Gain (a) $11,467,653 $29,441,560
Per Share (a) $0.78 $2.00

(a) The information provided is in accordance with Generally Accepted Accounting Principles ("GAAP"), which requires the Fund to treat amounts accrued by the Fund under swap agreements as net realized and unrealized gain (loss). However, these amounts are treated as net investment income (loss) for federal income tax purposes. By using GAAP, Net Investment Income for the fiscal quarter and nine months ended July 31, 2013 was $345,858 ($0.02 per share) and $924,726 ($0.06 per share) lower, respectively, and Net Realized and Change in Unrealized Gain (Loss) correspondingly lower/higher than those figures would have been if swap amounts were treated as net investment income. By using GAAP, Net Investment Income for the fiscal quarter and nine months ended July 31, 2012 was $275,101 ($0.02 per share) and $620,529 ($0.04 per share) lower, respectively, and Net Realized and Change in Unrealized Gain correspondingly higher than those figures would have been if swap amounts were treated as net investment income.

(b) Since the Fund's net earning rates fluctuate from month to month, there will be periods when the Fund may over-earn or under-earn its monthly dividend rate. This fluctuation will have the effect of adding to or subtracting from the Fund's undistributed ordinary income balance. Fund management analyzes the current and projected net earnings rates prior to recommending dividend amounts to the Fund's Board of Trustees for declaration. There can be no assurance that the monthly dividend rate will remain at its current level or that the undistributed ordinary income balance will be sufficient to cover any shortfall in earnings to meet the current dividend rate. The undistributed ordinary income balance is inclusive of swap income (or loss), paydown gains and net gain (or loss) from foreign currency transactions in accordance with federal income tax treatment of these items. This balance may also include net short-term gains, if any, from the sale of portfolio securities and other sources.

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

The Fund's daily New York Stock Exchange closing market price, NAV, as well as other information, are available at .us.allianzgi.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. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.

Add a Comment

News   More...

Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar


Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - 2013/9/30 - PIMCO Income Opportunity Fund Reports Results for the Fiscal Quarter and Nine Months Ended July 31, 2013
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: Pimco Hires Maisonneuve as Managing Director, Head of Equities Portfolio Management  |  Next: Pimco Income Opportunity Fund Reports Results for the Fiscal Quarter and Year Ended October 31, 2013