- BySeeking Alpha
- •
PCM Fund, Inc. (the Fund) is a diversified closed-end management investment company. The Fund's primary investment objective is to achieve high current income. Capital gain from the disposition of investments is a secondary objective of the Fund. The Fund seeks to achieve high current income by investing in a portfolio comprised primarily of commercial mortgage-backed securities. The Fund invests in asset-backed securities, corporate bonds and notes, loan participations and assignments, non-agency mortgage-backed securities, common stocks, preferred securities, short-term instruments, United Sates government agencies, real estate investment trusts and other. Additionally, the fund may invest in credit derivatives, such as credit default swaps, and other derivative instruments for gaining synthetic exposures. It may invest without limit in securities that are, at the time of purchase, rated below investment grade. Its investment manager is Pacific Investment Management Company LLC.