NEW YORK, April 29, 2005 (PRIMEZONE) -- PIMCO Floating Rate Strategy Fund (the "Fund") (NYSE:PFN), a closed-end management investment company which seeks high current income consistent with the preservation of capital, today announced its results for the fiscal quarter and six months ended February 28, 2005.
At February 28, 2005
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Net Assets (a) $1,273,239,713
Shares Outstanding 41,443,993
Net Asset Value ("NAV") $19.14
Market Price $19.54
Premium to NAV 2.09%
(a) Net assets are inclusive of $480 million
Preferred Shares issuance.
Quarter ended February 28, 2005
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Net Investment Income $8,013,943
Per Share $0.19
Net Realized and Unrealized Gain $10,151,293
Per Share $0.23
For the period
October 29, 2004 (a)
through February 28, 2005
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Net Investment Income $9,552,836
Per Share $0.23
Net Realized and Unrealized Gain $12,791,479
Per Share $0.30
(a) Commencement of operations
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, weekly net asset value per share as well as other information is available at www.allianzinvestors.com or by calling the Fund's transfer agent at 1-800-331-1710.
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 same or similar to the results 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 report 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 an investment decision, individuals should utilize other information sources and the advice of their own professional advisor.