PIMCO Strategic Global Government Fund, Inc. (the "Fund") (NYSE: RCS), a non-diversified, closed-end management investment company which as a primary objective seeks to generate, over time, a level of income higher than that generated by high-quality, intermediate-term U.S. debt securities and as a secondary objective, seeks to maintain volatility in the net asset value of the shares of the Fund comparable to that of high-quality, intermediate-term U.S. debt securities, today announced its results for the fiscal quarter and six months ended July 31, 2009.

 

At July 31,

2009

 

2008

Net Assets $ 313,637,146 $ 347,763,719 Shares Outstanding 38,596,552 37,931,271 Net Asset Value ("NAV") $ 8.13 $ 9.17 Market Price $ 9.53 $ 9.80 Premium to NAV 17.22 % 6.87 % Undistributed Net Investment Income Per Share (b) $ 0.3010 $ 0.3443    

Quarter ended July 31,

2009

2008

Net Investment Income (a) $ 10,658,443 $ 8,819,938 Per Share (a) $ 0.28 $ 0.23 Net Realized and Change in Unrealized Gain (Loss) (a) $ 38,706,261 $ (16,698,664 ) Per Share (a) $ 1.00 $ (0.44 )  

Six Months ended July 31,

2009

2008

Net Investment Income (a) $ 20,358,150 $ 16,638,017 Per Share (a) $ 0.53 $ 0.44 Net Realized and Change in Unrealized Gain (Loss) (a) $ 20,368,048 $ (27,385,524 ) Per Share (a) $ 0.53 $ (0.72 ) (a)  

The information provided is in accordance with generally accepted accounting principals ("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 July 31, 2009 was $787,589 ($0.02 per share) and $1,394,059 ($0.04 per share) lower, respectively and Net Realized and Change in Unrealized Gain correspondingly higher than those figures would have been if swap amounts were treated as net income in accordance with federal income tax treatment. By using GAAP, Net Investment Income for the fiscal quarter and six months ended July 31, 2008 was $3,065,087 ($0.08 per share) and $6,947,546 ($0.18 per share) lower, respectively and Net Realized and Change in 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.

  (b) Since net earning rates fluctuate from month to month while monthly dividends have remained relatively stable, there will be periods when the Fund may 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 earnings rates prior to recommending dividend amounts to the Fund's Board of Directors 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 accrued under swap agreements, in accordance with federal income tax treatment.

Allianz Global Investors Fund Management LLC ("AGIFM"), 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 affiliate of AGIFM, 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 www.allianzinvestors.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 objectives. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.

Allianz Aktiengesell (NYSE:AZ)
Historical Stock Chart
From Sep 2021 to Oct 2021 Click Here for more Allianz Aktiengesell Charts.
Allianz Aktiengesell (NYSE:AZ)
Historical Stock Chart
From Oct 2020 to Oct 2021 Click Here for more Allianz Aktiengesell Charts.