PCM Fund Inc. (the Fund) is a diversified closed-end management investment company. The Company's primary investment objective is to seek to achieve high current income. Capital gains from the disposition of investments are a secondary objective of the Fund. The Fund invests in agency-guaranteed mortgage-backed securities (MBS), private label (non-agency) mortgage-backed securities, investment grade corporate debt securities, high yield corporate debt securities and commercial mortgage-backed securities. It may invest in credit derivatives, such as credit default swaps, and other derivative instruments for gaining synthetic exposures. Its portfolio includes investments in sectors, such as Government National Mortgage Association MBS (GNMA MBS), Federal National Mortgage Association MBS (FNMA MBS), non-agency MBS, home equity asset-backed securities, and the United States government related. Pacific Investment Management Company LLC (PIMCO) is its investment manager.