PIMCO Dynamic Income Fund Reports Results for the Fiscal Quarter and Period Ended March 31, 2013
May 29 2013 - 3:00PM
Business Wire
PIMCO Dynamic Income Fund (the "Fund") (NYSE: PDI), a
non-diversified, closed-end management investment company which
seeks current income as a primary objective and capital
appreciation as a secondary objective, today announced its results
for the fiscal quarter and period ended March 31, 2013.
At March 31,
2013
Net Assets $1,393,098,678 Shares Outstanding 45,393,817 Net Asset
Value ("NAV") $30.69 Market Price $31.10 Premium to NAV 1.34%
Undistributed Ordinary Income Per Share
(c)
$0.6066
Quarter ended March
31, 2013
Net Investment Income (b) $21,182,074 Per Share (b) $0.46 Net
Realized and Unrealized Gain (b) $81,712,381 Per Share (b) $1.81
For the Period May 30, 2012 (a)
through March 31,
2013
Net Investment Income (b) $126,147,712 Per Share (b) $2.79 Net
Realized and Unrealized Gain (b) $293,767,714 Per Share (b) $6.50
(a)
Commencement of operations.
(b)
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 period ended March 31, 2013 was
$1,088,440 ($0.03 per share) higher and $1,954,127 ($0.04 per
share) lower, respectively, and Net Realized and Unrealized Gain
correspondingly higher/lower than those figures would have been if
swap amounts were treated as net investment income (loss).
(c)
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, net gain (or loss) from foreign currency
transactions and gains from the sale of portfolio securities and
other sources in accordance with federal income tax treatment of
these items.
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, is available at
http://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.
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