ACM Government Spectrum Fund, Inc. Reports Second Quarter Earnings.NEW YORK--(BUSINESS WIRE)--Aug. 13, 1999-- ACM (Association for Computing Machinery, New York, www.acm.org) A membership organization founded in 1947 dedicated to advancing the arts and sciences of information processing. In addition to awards and publications, ACM also maintains special interest groups (SIGs) in the computer field. Government Spectrum Fund, Inc. (NYSE NYSE See: New York Stock Exchange :SI), a registered closed-end investment company closed-end investment company: see mutual fund. , today announced earnings for the second quarter ended June June: see month. 30, 1999. Total net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of the Fund on June 30, 1999 were $243,256,142 compared with $251,178,907 on March 31, 1999 and $262,739,428 on June 30, 1998. On June 30, 1999 the net asset value per share was $6.57 based on 37,028,027 shares of common stock outstanding.
June 30, 1999 March 31, 1999 June 30, 1998
------------- -------------- -------------
Total Net Assets $243,256,142 $251,178,907 $262,739,428
NAV per Share $6.57 $6.78 $7.10
Shares Outstanding 37,028,027 37,028,027 37,028,027
For the period April 1, 1999 through June 30, 1999, total net
investment income was $4,962,884 or $0.13 per share. The total net
realized and unrealized loss was ($7,887,023) or ($0.21) per share for
the same period.
Second Quarter First Quarter Second Quarter
Ended Ended Ended
June 30, 1999 March 31, 1999 June 30, 1998
------------- -------------- -------------
Total Net Investment
Income $4,962,884 $4,684,819 $4,639,806
Per Share $0.13 $0.13 $0.13
Total Net Realized/
Unrealized (Loss) ($7,887,023) ($8,135,232) ($3,529,089)
Per Share ($0.21) ($0.22) $0.10
ACM Government Spectrum Fund, Inc. is managed by Alliance Capital
Management L.P.
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