NEW YORK, March 1, 2007 (PRIME NEWSWIRE) -- PIMCO Global StocksPLUS & Income Fund (the "Fund") (NYSE:PGP), a non-diversified, closed-end management investment company which seeks total return comprised of current income, current gains and long-term capital appreciation, today announced its results for the fiscal quarter and nine months ended December 31, 2006.
At December 31, At December 31,
2006 2005
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Net Assets $258,818,284 $231,529,553
Shares Outstanding 9,388,276 9,329,821
Net Asset Value ("NAV") $27.57 $24.82
Market Price $28.32 $22.68
Premium (Discount) to NAV 2.72% (8.62)%
Quarter ended December 31,
2006 2005
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Net Investment Income (a) $2,768,161 $2,220,958
Per Share (a) $0.30 $0.24
Net Realized and Change in
Unrealized Gain (a) $17,119,630 $1,950,996
Per Share (a) $1.81 $0.21
3 Month Average
Undistributed
Net Investment Income
per share (b) $0.2150 N/A
Nine Months ended
December 31, 2006 (c)
Net Investment Income (a) $7,009,965
Per Share (a) $0.75
Net Realized and Change in
Unrealized Gain (a) $24,939,826
Per Share (a) $2.66
(a) The information provided is in accordance with generally accepted
accounting principles ("GAAP"), which requires the Fund to treat
amounts received under swap agreements as net realized gain
(loss). However, these amounts are treated as net income (loss)
for federal income tax purposes. By using GAAP, Net Investment
Income for the quarter and nine months ended December 31, 2006
was $4,605,390 ($0.48 per share) and $10,168,410 ($1.08 per
share), respectively, lower (and Net Realized and Change in
Unrealized Gain correspondingly higher) than those figures would
have been if swap amounts were treated as net income (loss) in
accordance with federal income tax treatment.
(b) Calculated using the estimated month-end tax basis balances for
the three months ended December 31, 2006. Please note that
generally there is a close correlation between what the Fund
earns (net of expenses) and what it pays in monthly dividends.
However, since net earning rates fluctuate from month to month
while monthly dividends have remained relatively stable, there
will be periods when the Fund may modestly over-earn or
under-earn its monthly dividend which would have the effect of
adding to or subtracting from the Fund's undistributed net
investment income balance. Fund management analyzes the Fund's
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 net investment income balance will remain constant.
Inclusive of amounts received under swap agreements, in
accordance with federal income tax treatment.
(c) The Fund commenced operations on May 31, 2005, therefore nine
month comparative information for the period ended December 31,
2005 is not available.
Allianz Global Investors 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, an Allianz Global Investors Fund Management affiliate, 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) 331-1710.
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. In making any investment decision, individuals should utilize other information sources and the advice of their own professional advisor.