PIMCO Income Opportunity Fund (the Fund) is a non-diversified, closed-end exchange traded investment company. The Fund�s primary investment objective is to seek current income as a primary focus and also capital appreciation. Under normal market conditions, Income Opportunity will seek to achieve its objective by investing in a global portfolio of corporate debt, government and sovereign debt, mortgage-backed and other asset-backed securities, bank loans and related instruments, convertible securities and income-producing securities of U.S. and foreign issuers, including emerging market issuers. The Fund invests in sectors, such as integrated oil, electric utility, airlines, banks, insurance life, real estate, consumer products and wirelines. Allianz Global Investors Fund Management LLC (the Investment Manager) serves as the Funds� investment manager and Pacific Investment Management Company LLC (Sub-Adviser) serve as the Funds� sub-adviser.