NEW YORK, March 30, 2005 (PRIMEZONE) -- Floating Rate Income Fund (the "Fund") (NYSE:PFL), a closed-end management investment company which seeks high current income consistent with the preservation of capital, today announced its results for the fiscal quarter and six months ended January 31, 2005.
At January 31, 2005 At January 31, 2004
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Net Assets (a) $564,344,400 $555,689,035
Shares Outstanding 17,981,553 17,807,405
Net Asset Value ("NAV") $19.71 $19.41
Market Price $21.30 $20.10
Premium to NAV 8.07% 3.55%
(a) Net assets are inclusive of $210 million
Preferred Shares issuance.
Quarter ended Quarter ended
January 31, 2005 January 31, 2004
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Net Investment Income $5,317,167 $3,004,305
Per Share $0.30 $0.17
Net Realized and
Unrealized Gain $4,097,956 $4,367,910
Per Share $0.24 $0.25
Six months ended
January 31, 2005
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Net Investment Income $10,960,933
Per Share $0.61
Net Realized and Unrealized Gain $9,244,361
Per Share $0.52
PA Fund Management LLC, 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 (NYSE:AZ). Pacific Investment Management Company LLC, a PA Fund Management affiliate, serves as the Fund's sub-adviser. Allianz is a leading global financial services company.
The Fund's daily New York Stock Exchange closing price, weekly net asset value per share as well as other information is available at www.pimcoadvisors.com or by calling the Fund's transfer agent at 1-800-331-1710.