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PCM Fund, Inc. Reports Results For The Fiscal Quarter And Six Months Ended June 30, 2012

PCM Fund, Inc. (the "Fund") (NYSE: PCM), a non-diversified, closed-end management investment company, which seeks high current income as a primary objective and capital gain from the disposition of investments as a secondary objective, today announced its results for the fiscal quarter and six months ended June 30, 2012.

 

At June 30,

2012

 

2011

Net Assets $ 117,799,162 $ 117,696,769
Shares Outstanding 11,486,496 11,462,593
Net Asset Value ("NAV") $ 10.26 $ 10.27
Market Price $ 11.12 $ 11.40
Premium to NAV 8.38 % 11.00 %

Undistributed Net Investment Income Per Share (b)

$ 0.2439 $ 0.1612
 
 

Quarter ended June 30,

2012

2011

Net Investment Income (a) $ 3,540,100 $ 3,391,876
Per Share (a) $ 0.30 $ 0.30
Net Realized and Change in Unrealized Loss (a) $ (354,401 ) $ (558,921 )
Per Share (a) $ (0.02 ) $ (0.05 )
 
 

Six Months ended June 30,

2012

2011

Net Investment Income (a) $ 6,124,872 $ 6,520,177
Per Share (a) $ 0.53 $ 0.57
Net Realized and Change in Unrealized Gain (a) $ 8,243,000 $ 3,469,229
Per Share (a) $ 0.73 $ 0.30

(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 income (loss) for federal income tax purposes. By using GAAP, Net Investment Income for the fiscal quarter and six months ended June 30, 2012 was $80,193 (less than $0.01 per share) and $156,136 ($0.01 per share) lower, respectively, and Net Realized and Change in Unrealized Gain (Loss) correspondingly higher (lower) 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 six months ended June 30, 2011 was $85,312 ($0.01 per share) and $137,534 ($0.01 per share) lower, respectively, and Net Realized and Change in Unrealized Gain (Loss) correspondingly higher (lower) than those figures would have been if swap amounts were treated as net investment income.

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