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. It seeks to achieve its objective and produce total return for shareholders 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 the United States and foreign issuers, including emerging market issuers. The Fund invests in sectors, such as non-captive cons. finance, insurance life, electric utility, integrated oil, independent E&P, airlines, real estate, pipelines, banks and aerospace/defense. Allianz Global Investors Fund Management LLC (the Investment Manager) serves as the Funds' investment manager and is an indirect, wholly owned subsidiary of Allianz Asset Management of America L.P.