PIMCO High Income Fund Loses Over Half Its Value

The PIMCO High Income Fund (NYSE:PHK) has lost 55% of it value in one very turbulent month.  On September 10 this Fund closed at $11.49.  By October 10 its value had plummeted to $5.07.  

According to its disclosures, the PIMCO High Income Fund operates as a closed-end management investment company. It primarily invests in the U.S. dollar-denominated corporate debt obligations and other income-producing securities. The fund primarily invests in various companies operating in the areas of energy, real estate, telecommunications, manufacturing, and utilities, as well as invests in various foreign investments. Allianz Global Investors Fund Management LLC serves as the investment manager of the fund. PIMCO High Income Fund was founded in 2003 and is based in New York City.

The Fund’s Market Cap is currently 850.64M.

We are investigating the way this Fund was marketed and sold to investors. If you are an investor in the PIMCO High Income Fund and have suffered losses, we would like to speak with you.

This entry was posted on Wednesday, October 15th, 2008 at 9:34 am and is filed under Bond Losses. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.