PIMCO Strategic Global Government Fund, Inc. Reports Results for the Fiscal Quarter and Six Months Ended July 31, 2009
October 13 2009 - 4:00PM
Business Wire
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.
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