NEW YORK, Oct. 6, 2008 (GLOBE NEWSWIRE) -- 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 period ended July 31, 2008.
At July 31, 2008
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Net Assets $313,756,216
Shares Outstanding 14,140,870
Net Asset Value ("NAV") $22.19
Market Price $20.67
Discount to NAV (6.85)%
Quarter ended
July 31, 2008
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Net Investment Income (b) $5,890,369
Per Share (b) $0.41
Net Realized and Unrealized Loss (b) $(17,310,001)
Per Share (b) $(1.22)
For the period
November 30, 2007 (a)
through July 31, 2008
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Net Investment Income (b) $14,187,041
Per Share (b) $1.00
Net Realized and Unrealized Loss (b) $(19,823,682)
Per Share (b) $(1.40)
(a) Commencement of operations.
(b) 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 fiscal quarter and period ended July 31, 2008 was
$362,968 ($0.02 per share) and $891,538 ($0.06 per share) lower,
respectively (and Net Realized and Unrealized Loss
correspondingly lower) than those figures would have been if swap
amounts were treated as net income in accordance with federal
income tax treatment.
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. There can be no assurance that the Fund will meet its objective. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.