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          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_FocusedInvestmentRiskMember" xlink:label="loc_pfemif_FocusedInvestmentRiskMember_200710" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_FocusedInvestmentRiskMember_200710" use="optional" order="55" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_AntiTakeoverProvisionsMember" xlink:label="loc_pfemif_AntiTakeoverProvisionsMember_200712" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_AntiTakeoverProvisionsMember_200712" use="optional" order="56" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ConfidentialInformationAccessRiskMember" xlink:label="loc_pfemif_ConfidentialInformationAccessRiskMember_200713" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_ConfidentialInformationAccessRiskMember_200713" use="optional" order="57" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CovenantLiteObligationsRiskMember" xlink:label="loc_pfemif_CovenantLiteObligationsRiskMember_200714" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_CovenantLiteObligationsRiskMember_200714" use="optional" order="58" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PortfolioTurnoverRiskMember" xlink:label="loc_pfemif_PortfolioTurnoverRiskMember_200715" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_PortfolioTurnoverRiskMember_200715" use="optional" order="59" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CallRiskMember" xlink:label="loc_pfemif_CallRiskMember_200716" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_CallRiskMember_200716" use="optional" order="60" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RiskRetentionInvestmentRiskMember" xlink:label="loc_pfemif_RiskRetentionInvestmentRiskMember_200717" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_RiskRetentionInvestmentRiskMember_200717" use="optional" order="61" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" xlink:label="loc_pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember_200718" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember_200718" use="optional" order="62" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_AssetAllocationRiskMember" xlink:label="loc_pfemif_AssetAllocationRiskMember_200719" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_AssetAllocationRiskMember_200719" use="optional" order="63" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RepurchaseAgreementsRiskMember" xlink:label="loc_pfemif_RepurchaseAgreementsRiskMember_200720" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_RepurchaseAgreementsRiskMember_200720" use="optional" order="64" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_DistributionRateRiskMember" xlink:label="loc_pfemif_DistributionRateRiskMember_200721" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_DistributionRateRiskMember_200721" use="optional" order="65" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_OperationalRiskMember" xlink:label="loc_pfemif_OperationalRiskMember_200722" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_OperationalRiskMember_200722" use="optional" order="66" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_TaxRiskMember" xlink:label="loc_pfemif_TaxRiskMember_200723" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_TaxRiskMember_200723" use="optional" order="67" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LoanOriginationRiskMember" xlink:label="loc_pfemif_LoanOriginationRiskMember_200724" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_LoanOriginationRiskMember_200724" use="optional" order="68" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_HighYieldSecuritiesRiskMember" xlink:label="loc_pfemif_HighYieldSecuritiesRiskMember_200725" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_HighYieldSecuritiesRiskMember_200725" use="optional" order="69" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ManagementRiskMember" xlink:label="loc_pfemif_ManagementRiskMember_200726" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_ManagementRiskMember_200726" use="optional" order="70" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ReinvestmentRiskMember" xlink:label="loc_pfemif_ReinvestmentRiskMember_200728" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_ReinvestmentRiskMember_200728" use="optional" order="71" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_EquityRiskMember" xlink:label="loc_pfemif_EquityRiskMember_200730" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_EquityRiskMember_200730" use="optional" order="72" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ForeignNonUSInvestmentRiskMember" xlink:label="loc_pfemif_ForeignNonUSInvestmentRiskMember_200732" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_ForeignNonUSInvestmentRiskMember_200732" use="optional" order="73" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xlink:label="loc_pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember_200743" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember_200743" use="optional" order="74" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CertainAffiliationsMember" xlink:label="loc_pfemif_CertainAffiliationsMember_200744" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_CertainAffiliationsMember_200744" use="optional" order="75" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_GeopoliticalConflictsRiskMember" xlink:label="loc_pfemif_GeopoliticalConflictsRiskMember_200747" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_GeopoliticalConflictsRiskMember_200747" use="optional" order="76" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PrivateFundsRiskTaxRiskMember" xlink:label="loc_pfemif_PrivateFundsRiskTaxRiskMember_200748" />
          <link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cef_AllRisksMember_200074" xlink:to="loc_pfemif_PrivateFundsRiskTaxRiskMember_200748" use="optional" order="77" />
        </link:definitionLink>
        <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link" >
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ClassA1Member" xlink:label="loc_pfemif_ClassA1Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ClassA1Member" xml:lang="en-US">Class A1 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ClassA1Member" xlink:to="lab_pfemif_ClassA1Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ClassA3Member" xlink:label="loc_pfemif_ClassA3Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ClassA3Member" xml:lang="en-US">Class A3 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ClassA3Member" xlink:to="lab_pfemif_ClassA3Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CommonSharesMember" xlink:label="loc_pfemif_CommonSharesMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CommonSharesMember" xml:lang="en-US">Common Shares [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CommonSharesMember" xlink:to="lab_pfemif_CommonSharesMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ClassA4Member" xlink:label="loc_pfemif_ClassA4Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ClassA4Member" xml:lang="en-US">Class A4 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ClassA4Member" xlink:to="lab_pfemif_ClassA4Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ClassA2Member" xlink:label="loc_pfemif_ClassA2Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ClassA2Member" xml:lang="en-US">Class A2 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ClassA2Member" xlink:to="lab_pfemif_ClassA2Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_InstitutionalClassMember" xlink:label="loc_pfemif_InstitutionalClassMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_InstitutionalClassMember" xml:lang="en-US">Institutional Class [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_InstitutionalClassMember" xlink:to="lab_pfemif_InstitutionalClassMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouRedeemYourSharesInstitutionalClassMember" xlink:label="loc_pfemif_IfYouRedeemYourSharesInstitutionalClassMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouRedeemYourSharesInstitutionalClassMember" xml:lang="en-US">If you redeem your shares Institutional Class [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouRedeemYourSharesInstitutionalClassMember" xlink:to="lab_pfemif_IfYouRedeemYourSharesInstitutionalClassMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouRedeemYourSharesClassA1Member" xlink:label="loc_pfemif_IfYouRedeemYourSharesClassA1Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouRedeemYourSharesClassA1Member" xml:lang="en-US">If you redeem your shares Class A1 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouRedeemYourSharesClassA1Member" xlink:to="lab_pfemif_IfYouRedeemYourSharesClassA1Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouRedeemYourSharesClassA2Member" xlink:label="loc_pfemif_IfYouRedeemYourSharesClassA2Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouRedeemYourSharesClassA2Member" xml:lang="en-US">If you redeem your shares Class A2 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouRedeemYourSharesClassA2Member" xlink:to="lab_pfemif_IfYouRedeemYourSharesClassA2Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouRedeemYourSharesClassA3Member" xlink:label="loc_pfemif_IfYouRedeemYourSharesClassA3Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouRedeemYourSharesClassA3Member" xml:lang="en-US">If you redeem your shares Class A3 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouRedeemYourSharesClassA3Member" xlink:to="lab_pfemif_IfYouRedeemYourSharesClassA3Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouRedeemYourSharesClassA4Member" xlink:label="loc_pfemif_IfYouRedeemYourSharesClassA4Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouRedeemYourSharesClassA4Member" xml:lang="en-US">If you redeem your shares Class A4 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouRedeemYourSharesClassA4Member" xlink:to="lab_pfemif_IfYouRedeemYourSharesClassA4Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouDoNotRedeemYourSharesClassA2Member" xlink:label="loc_pfemif_IfYouDoNotRedeemYourSharesClassA2Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouDoNotRedeemYourSharesClassA2Member" xml:lang="en-US">If you do not redeem your shares Class A2 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouDoNotRedeemYourSharesClassA2Member" xlink:to="lab_pfemif_IfYouDoNotRedeemYourSharesClassA2Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IfYouDoNotRedeemYourSharesClassA4Member" xlink:label="loc_pfemif_IfYouDoNotRedeemYourSharesClassA4Member" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IfYouDoNotRedeemYourSharesClassA4Member" xml:lang="en-US">If you do not redeem your shares Class A4 [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IfYouDoNotRedeemYourSharesClassA4Member" xlink:to="lab_pfemif_IfYouDoNotRedeemYourSharesClassA4Member" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_NewSmallFundRiskMember" xlink:label="loc_pfemif_NewSmallFundRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_NewSmallFundRiskMember" xml:lang="en-US">New/Small Fund Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_NewSmallFundRiskMember" xlink:to="lab_pfemif_NewSmallFundRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_MarketDisruptionsRiskMember" xlink:label="loc_pfemif_MarketDisruptionsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_MarketDisruptionsRiskMember" xml:lang="en-US">Market Disruptions Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_MarketDisruptionsRiskMember" xlink:to="lab_pfemif_MarketDisruptionsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CounterpartyRiskMember" xlink:label="loc_pfemif_CounterpartyRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CounterpartyRiskMember" xml:lang="en-US">Counterparty Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CounterpartyRiskMember" xlink:to="lab_pfemif_CounterpartyRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_MunicipalBondRiskMember" xlink:label="loc_pfemif_MunicipalBondRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_MunicipalBondRiskMember" xml:lang="en-US">Municipal Bond Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_MunicipalBondRiskMember" xlink:to="lab_pfemif_MunicipalBondRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_DerivativesRiskMember" xlink:label="loc_pfemif_DerivativesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_DerivativesRiskMember" xml:lang="en-US">Derivatives Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_DerivativesRiskMember" xlink:to="lab_pfemif_DerivativesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" xlink:label="loc_pfemif_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" xml:lang="en-US">Mortgage-Related and Other Asset-Backed Instruments Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" xlink:to="lab_pfemif_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LiquidityRiskMember" xlink:label="loc_pfemif_LiquidityRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_LiquidityRiskMember" xml:lang="en-US">Liquidity Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_LiquidityRiskMember" xlink:to="lab_pfemif_LiquidityRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CyberSecurityRiskMember" xlink:label="loc_pfemif_CyberSecurityRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CyberSecurityRiskMember" xml:lang="en-US">Cyber Security Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CyberSecurityRiskMember" xlink:to="lab_pfemif_CyberSecurityRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ValuationRiskMember" xlink:label="loc_pfemif_ValuationRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ValuationRiskMember" xml:lang="en-US">Valuation Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ValuationRiskMember" xlink:to="lab_pfemif_ValuationRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ContingentConvertibleSecuritiesRiskMember" xlink:label="loc_pfemif_ContingentConvertibleSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ContingentConvertibleSecuritiesRiskMember" xml:lang="en-US">Contingent Convertible Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ContingentConvertibleSecuritiesRiskMember" xlink:to="lab_pfemif_ContingentConvertibleSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LeverageRiskMember" xlink:label="loc_pfemif_LeverageRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_LeverageRiskMember" xml:lang="en-US">Leverage Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_LeverageRiskMember" xlink:to="lab_pfemif_LeverageRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_USGovernmentSecuritiesRiskMember" xlink:label="loc_pfemif_USGovernmentSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_USGovernmentSecuritiesRiskMember" xml:lang="en-US">U.S. Government Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_USGovernmentSecuritiesRiskMember" xlink:to="lab_pfemif_USGovernmentSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CreditDefaultSwapsRiskMember" xlink:label="loc_pfemif_CreditDefaultSwapsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CreditDefaultSwapsRiskMember" xml:lang="en-US">Credit Default Swaps Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CreditDefaultSwapsRiskMember" xlink:to="lab_pfemif_CreditDefaultSwapsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_SeniorDebtRiskMember" xlink:label="loc_pfemif_SeniorDebtRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_SeniorDebtRiskMember" xml:lang="en-US">Senior Debt Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_SeniorDebtRiskMember" xlink:to="lab_pfemif_SeniorDebtRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CorporateDebtSecuritiesRiskMember" xlink:label="loc_pfemif_CorporateDebtSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CorporateDebtSecuritiesRiskMember" xml:lang="en-US">Corporate Debt Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CorporateDebtSecuritiesRiskMember" xlink:to="lab_pfemif_CorporateDebtSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_StructuredInvestmentsRiskMember" xlink:label="loc_pfemif_StructuredInvestmentsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_StructuredInvestmentsRiskMember" xml:lang="en-US">Structured Investments Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_StructuredInvestmentsRiskMember" xlink:to="lab_pfemif_StructuredInvestmentsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_SubprimeRiskMember" xlink:label="loc_pfemif_SubprimeRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_SubprimeRiskMember" xml:lang="en-US">Subprime Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_SubprimeRiskMember" xlink:to="lab_pfemif_SubprimeRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_OtherPooledInvestmentVehiclesRiskMember" xlink:label="loc_pfemif_OtherPooledInvestmentVehiclesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_OtherPooledInvestmentVehiclesRiskMember" xml:lang="en-US">Other Pooled Investment Vehicles Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_OtherPooledInvestmentVehiclesRiskMember" xlink:to="lab_pfemif_OtherPooledInvestmentVehiclesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_IssuerRiskMember" xlink:label="loc_pfemif_IssuerRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_IssuerRiskMember" xml:lang="en-US">Issuer Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_IssuerRiskMember" xlink:to="lab_pfemif_IssuerRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CreditRisksMember" xlink:label="loc_pfemif_CreditRisksMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CreditRisksMember" xml:lang="en-US">Credit Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CreditRisksMember" xlink:to="lab_pfemif_CreditRisksMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_SubsidiaryRiskMember" xlink:label="loc_pfemif_SubsidiaryRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_SubsidiaryRiskMember" xml:lang="en-US">Subsidiary Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_SubsidiaryRiskMember" xlink:to="lab_pfemif_SubsidiaryRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PrivacyAndDataSecurityRiskMember" xlink:label="loc_pfemif_PrivacyAndDataSecurityRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PrivacyAndDataSecurityRiskMember" xml:lang="en-US">Privacy and Data Security Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PrivacyAndDataSecurityRiskMember" xlink:to="lab_pfemif_PrivacyAndDataSecurityRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RepurchaseOffersRiskMember" xlink:label="loc_pfemif_RepurchaseOffersRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_RepurchaseOffersRiskMember" xml:lang="en-US">Repurchase Offers Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_RepurchaseOffersRiskMember" xlink:to="lab_pfemif_RepurchaseOffersRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_EmergingMarketsRiskMember" xlink:label="loc_pfemif_EmergingMarketsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_EmergingMarketsRiskMember" xml:lang="en-US">Emerging Markets Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_EmergingMarketsRiskMember" xlink:to="lab_pfemif_EmergingMarketsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ShortExposureRiskMember" xlink:label="loc_pfemif_ShortExposureRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ShortExposureRiskMember" xml:lang="en-US">Short Exposure Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ShortExposureRiskMember" xlink:to="lab_pfemif_ShortExposureRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_NonDiversificationRiskMember" xlink:label="loc_pfemif_NonDiversificationRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_NonDiversificationRiskMember" xml:lang="en-US">Non Diversification Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_NonDiversificationRiskMember" xlink:to="lab_pfemif_NonDiversificationRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ForeignLoanOriginationsRiskMember" xlink:label="loc_pfemif_ForeignLoanOriginationsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ForeignLoanOriginationsRiskMember" xml:lang="en-US">Foreign Loan Originations Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ForeignLoanOriginationsRiskMember" xlink:to="lab_pfemif_ForeignLoanOriginationsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LargeShareholderRiskMember" xlink:label="loc_pfemif_LargeShareholderRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_LargeShareholderRiskMember" xml:lang="en-US">Large Shareholder Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_LargeShareholderRiskMember" xlink:to="lab_pfemif_LargeShareholderRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_SovereignDebtRiskMember" xlink:label="loc_pfemif_SovereignDebtRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_SovereignDebtRiskMember" xml:lang="en-US">Sovereign Debt Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_SovereignDebtRiskMember" xlink:to="lab_pfemif_SovereignDebtRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" xlink:label="loc_pfemif_ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" xml:lang="en-US">Zero-Coupon Bonds, Step-Ups and Payment-In-Kind Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" xlink:to="lab_pfemif_ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CurrencyRiskMember" xlink:label="loc_pfemif_CurrencyRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CurrencyRiskMember" xml:lang="en-US">Currency Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CurrencyRiskMember" xlink:to="lab_pfemif_CurrencyRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_MarketRiskMember" xlink:label="loc_pfemif_MarketRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_MarketRiskMember" xml:lang="en-US">Market Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_MarketRiskMember" xlink:to="lab_pfemif_MarketRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_DistressedAndDefaultedSecuritiesRiskMember" xlink:label="loc_pfemif_DistressedAndDefaultedSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_DistressedAndDefaultedSecuritiesRiskMember" xml:lang="en-US">Distressed and Defaulted Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_DistressedAndDefaultedSecuritiesRiskMember" xlink:to="lab_pfemif_DistressedAndDefaultedSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PlatformRiskMember" xlink:label="loc_pfemif_PlatformRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PlatformRiskMember" xml:lang="en-US">Platform Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PlatformRiskMember" xlink:to="lab_pfemif_PlatformRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" xlink:label="loc_pfemif_PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" xml:lang="en-US">Privately-Issued Mortgage-Related Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" xlink:to="lab_pfemif_PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ConvertibleSecuritiesRiskMember" xlink:label="loc_pfemif_ConvertibleSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ConvertibleSecuritiesRiskMember" xml:lang="en-US">Convertible Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ConvertibleSecuritiesRiskMember" xlink:to="lab_pfemif_ConvertibleSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_InsuranceLinkedAndOtherInstrumentsRiskMember" xlink:label="loc_pfemif_InsuranceLinkedAndOtherInstrumentsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_InsuranceLinkedAndOtherInstrumentsRiskMember" xml:lang="en-US">Insurance-Linked and Other Instruments Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_InsuranceLinkedAndOtherInstrumentsRiskMember" xlink:to="lab_pfemif_InsuranceLinkedAndOtherInstrumentsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_InflationDeflationRiskMember" xlink:label="loc_pfemif_InflationDeflationRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_InflationDeflationRiskMember" xml:lang="en-US">Inflation/Deflation Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_InflationDeflationRiskMember" xlink:to="lab_pfemif_InflationDeflationRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PrivatePlacementsRiskMember" xlink:label="loc_pfemif_PrivatePlacementsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PrivatePlacementsRiskMember" xml:lang="en-US">Private Placements Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PrivatePlacementsRiskMember" xlink:to="lab_pfemif_PrivatePlacementsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RealEstateRiskMember" xlink:label="loc_pfemif_RealEstateRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_RealEstateRiskMember" xml:lang="en-US">Real Estate Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_RealEstateRiskMember" xlink:to="lab_pfemif_RealEstateRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RegulatoryChangesRiskMember" xlink:label="loc_pfemif_RegulatoryChangesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_RegulatoryChangesRiskMember" xml:lang="en-US">Regulatory Changes Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_RegulatoryChangesRiskMember" xlink:to="lab_pfemif_RegulatoryChangesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_FocusedInvestmentRiskMember" xlink:label="loc_pfemif_FocusedInvestmentRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_FocusedInvestmentRiskMember" xml:lang="en-US">Focused Investment Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_FocusedInvestmentRiskMember" xlink:to="lab_pfemif_FocusedInvestmentRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_AntiTakeoverProvisionsMember" xlink:label="loc_pfemif_AntiTakeoverProvisionsMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_AntiTakeoverProvisionsMember" xml:lang="en-US">Anti-Takeover Provisions [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_AntiTakeoverProvisionsMember" xlink:to="lab_pfemif_AntiTakeoverProvisionsMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ConfidentialInformationAccessRiskMember" xlink:label="loc_pfemif_ConfidentialInformationAccessRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ConfidentialInformationAccessRiskMember" xml:lang="en-US">Confidential Information Access Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ConfidentialInformationAccessRiskMember" xlink:to="lab_pfemif_ConfidentialInformationAccessRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CovenantLiteObligationsRiskMember" xlink:label="loc_pfemif_CovenantLiteObligationsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CovenantLiteObligationsRiskMember" xml:lang="en-US">Covenant Lite Obligations Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CovenantLiteObligationsRiskMember" xlink:to="lab_pfemif_CovenantLiteObligationsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PortfolioTurnoverRiskMember" xlink:label="loc_pfemif_PortfolioTurnoverRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PortfolioTurnoverRiskMember" xml:lang="en-US">Portfolio Turnover Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PortfolioTurnoverRiskMember" xlink:to="lab_pfemif_PortfolioTurnoverRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CallRiskMember" xlink:label="loc_pfemif_CallRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CallRiskMember" xml:lang="en-US">Call Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CallRiskMember" xlink:to="lab_pfemif_CallRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RiskRetentionInvestmentRiskMember" xlink:label="loc_pfemif_RiskRetentionInvestmentRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_RiskRetentionInvestmentRiskMember" xml:lang="en-US">Risk Retention Investment Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_RiskRetentionInvestmentRiskMember" xlink:to="lab_pfemif_RiskRetentionInvestmentRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" xlink:label="loc_pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" xml:lang="en-US">Loans and Other Indebtedness; Loan Acquisitions, Participations and Assignments Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" xlink:to="lab_pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_AssetAllocationRiskMember" xlink:label="loc_pfemif_AssetAllocationRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_AssetAllocationRiskMember" xml:lang="en-US">Asset Allocation Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_AssetAllocationRiskMember" xlink:to="lab_pfemif_AssetAllocationRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_RepurchaseAgreementsRiskMember" xlink:label="loc_pfemif_RepurchaseAgreementsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_RepurchaseAgreementsRiskMember" xml:lang="en-US">Repurchase Agreements Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_RepurchaseAgreementsRiskMember" xlink:to="lab_pfemif_RepurchaseAgreementsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_DistributionRateRiskMember" xlink:label="loc_pfemif_DistributionRateRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_DistributionRateRiskMember" xml:lang="en-US">Distribution Rate Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_DistributionRateRiskMember" xlink:to="lab_pfemif_DistributionRateRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_OperationalRiskMember" xlink:label="loc_pfemif_OperationalRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_OperationalRiskMember" xml:lang="en-US">Operational Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_OperationalRiskMember" xlink:to="lab_pfemif_OperationalRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_TaxRiskMember" xlink:label="loc_pfemif_TaxRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_TaxRiskMember" xml:lang="en-US">Tax Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_TaxRiskMember" xlink:to="lab_pfemif_TaxRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_LoanOriginationRiskMember" xlink:label="loc_pfemif_LoanOriginationRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_LoanOriginationRiskMember" xml:lang="en-US">Loan Origination Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_LoanOriginationRiskMember" xlink:to="lab_pfemif_LoanOriginationRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_HighYieldSecuritiesRiskMember" xlink:label="loc_pfemif_HighYieldSecuritiesRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_HighYieldSecuritiesRiskMember" xml:lang="en-US">High Yield Securities Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_HighYieldSecuritiesRiskMember" xlink:to="lab_pfemif_HighYieldSecuritiesRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ManagementRiskMember" xlink:label="loc_pfemif_ManagementRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ManagementRiskMember" xml:lang="en-US">Management Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ManagementRiskMember" xlink:to="lab_pfemif_ManagementRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ReinvestmentRiskMember" xlink:label="loc_pfemif_ReinvestmentRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ReinvestmentRiskMember" xml:lang="en-US">Reinvestment Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ReinvestmentRiskMember" xlink:to="lab_pfemif_ReinvestmentRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_EquityRiskMember" xlink:label="loc_pfemif_EquityRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_EquityRiskMember" xml:lang="en-US">Equity Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_EquityRiskMember" xlink:to="lab_pfemif_EquityRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_ForeignNonUSInvestmentRiskMember" xlink:label="loc_pfemif_ForeignNonUSInvestmentRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_ForeignNonUSInvestmentRiskMember" xml:lang="en-US">Foreign (Non-U.S.) Investment Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_ForeignNonUSInvestmentRiskMember" xlink:to="lab_pfemif_ForeignNonUSInvestmentRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xlink:label="loc_pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xml:lang="en-US">Potential Conflicts of Interest Risk&#8212;Allocation of Investment Opportunities [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" xlink:to="lab_pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_CertainAffiliationsMember" xlink:label="loc_pfemif_CertainAffiliationsMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_CertainAffiliationsMember" xml:lang="en-US">Certain Affiliations [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_CertainAffiliationsMember" xlink:to="lab_pfemif_CertainAffiliationsMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_GeopoliticalConflictsRiskMember" xlink:label="loc_pfemif_GeopoliticalConflictsRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_GeopoliticalConflictsRiskMember" xml:lang="en-US">Geopolitical Conflicts Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_GeopoliticalConflictsRiskMember" xlink:to="lab_pfemif_GeopoliticalConflictsRiskMember" />
          <link:loc xlink:type="locator" xlink:href="pfemif-20261027.xsd#pfemif_PrivateFundsRiskTaxRiskMember" xlink:label="loc_pfemif_PrivateFundsRiskTaxRiskMember" />
          <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_pfemif_PrivateFundsRiskTaxRiskMember" xml:lang="en-US">Private Funds Risk &#8211; Tax Risk [Member]</link:label>
          <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pfemif_PrivateFundsRiskTaxRiskMember" xlink:to="lab_pfemif_PrivateFundsRiskTaxRiskMember" />
        </link:labelLink>
      </link:linkbase>
    </appinfo>
  </annotation>
  <import namespace="http://xbrl.sec.gov/cef/2026" schemaLocation="https://xbrl.sec.gov/cef/2026/cef-2026.xsd" />
  <import namespace="http://xbrl.sec.gov/cef-pre/2026" schemaLocation="https://xbrl.sec.gov/cef/2026/cef-2026_pre.xsd" />
  <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <import namespace="http://www.xbrl.org/dtr/type/2024-01-31" schemaLocation="https://www.xbrl.org/dtr/type/2024-01-31/types.xsd" />
  <import namespace="http://xbrl.sec.gov/dei/2026" schemaLocation="https://xbrl.sec.gov/dei/2026/dei-2026.xsd" />
  <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <import namespace="http://www.xbrl.org/dtr/type/2020-01-21" schemaLocation="https://www.xbrl.org/dtr/type/2020-01-21/types.xsd" />
  <element name="InstitutionalClassMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_InstitutionalClassMember" substitutionGroup="xbrli:item" />
  <element name="ClassA1Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ClassA1Member" substitutionGroup="xbrli:item" />
  <element name="ClassA2Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ClassA2Member" substitutionGroup="xbrli:item" />
  <element name="ClassA3Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ClassA3Member" substitutionGroup="xbrli:item" />
  <element name="ClassA4Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ClassA4Member" substitutionGroup="xbrli:item" />
  <element name="IfYouRedeemYourSharesInstitutionalClassMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouRedeemYourSharesInstitutionalClassMember" substitutionGroup="xbrli:item" />
  <element name="IfYouRedeemYourSharesClassA1Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouRedeemYourSharesClassA1Member" substitutionGroup="xbrli:item" />
  <element name="IfYouRedeemYourSharesClassA2Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouRedeemYourSharesClassA2Member" substitutionGroup="xbrli:item" />
  <element name="IfYouRedeemYourSharesClassA3Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouRedeemYourSharesClassA3Member" substitutionGroup="xbrli:item" />
  <element name="IfYouRedeemYourSharesClassA4Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouRedeemYourSharesClassA4Member" substitutionGroup="xbrli:item" />
  <element name="IfYouDoNotRedeemYourSharesClassA2Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouDoNotRedeemYourSharesClassA2Member" substitutionGroup="xbrli:item" />
  <element name="IfYouDoNotRedeemYourSharesClassA4Member" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IfYouDoNotRedeemYourSharesClassA4Member" substitutionGroup="xbrli:item" />
  <element name="NewSmallFundRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_NewSmallFundRiskMember" substitutionGroup="xbrli:item" />
  <element name="EmergingMarketsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_EmergingMarketsRiskMember" substitutionGroup="xbrli:item" />
  <element name="ForeignNonUSInvestmentRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ForeignNonUSInvestmentRiskMember" substitutionGroup="xbrli:item" />
  <element name="SovereignDebtRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_SovereignDebtRiskMember" substitutionGroup="xbrli:item" />
  <element name="CurrencyRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CurrencyRiskMember" substitutionGroup="xbrli:item" />
  <element name="MarketRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_MarketRiskMember" substitutionGroup="xbrli:item" />
  <element name="AssetAllocationRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_AssetAllocationRiskMember" substitutionGroup="xbrli:item" />
  <element name="IssuerRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_IssuerRiskMember" substitutionGroup="xbrli:item" />
  <element name="RepurchaseOffersRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_RepurchaseOffersRiskMember" substitutionGroup="xbrli:item" />
  <element name="LargeShareholderRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_LargeShareholderRiskMember" substitutionGroup="xbrli:item" />
  <element name="ManagementRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ManagementRiskMember" substitutionGroup="xbrli:item" />
  <element name="CreditRisksMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CreditRisksMember" substitutionGroup="xbrli:item" />
  <element name="CorporateDebtSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CorporateDebtSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_MortgageRelatedAndOtherAssetBackedInstrumentsRiskMember" substitutionGroup="xbrli:item" />
  <element name="PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PrivatelyIssuedMortgageRelatedSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="SubprimeRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_SubprimeRiskMember" substitutionGroup="xbrli:item" />
  <element name="MunicipalBondRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_MunicipalBondRiskMember" substitutionGroup="xbrli:item" />
  <element name="HighYieldSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_HighYieldSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="DistressedAndDefaultedSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_DistressedAndDefaultedSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="SeniorDebtRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_SeniorDebtRiskMember" substitutionGroup="xbrli:item" />
  <element name="LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_LoansAndOtherIndebtednessLoanAcquisitionsParticipationsAndAssignmentsRiskMember" substitutionGroup="xbrli:item" />
  <element name="LoanOriginationRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_LoanOriginationRiskMember" substitutionGroup="xbrli:item" />
  <element name="ForeignLoanOriginationsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ForeignLoanOriginationsRiskMember" substitutionGroup="xbrli:item" />
  <element name="PrivacyAndDataSecurityRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PrivacyAndDataSecurityRiskMember" substitutionGroup="xbrli:item" />
  <element name="PlatformRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PlatformRiskMember" substitutionGroup="xbrli:item" />
  <element name="LiquidityRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_LiquidityRiskMember" substitutionGroup="xbrli:item" />
  <element name="CovenantLiteObligationsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CovenantLiteObligationsRiskMember" substitutionGroup="xbrli:item" />
  <element name="ReinvestmentRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ReinvestmentRiskMember" substitutionGroup="xbrli:item" />
  <element name="CallRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CallRiskMember" substitutionGroup="xbrli:item" />
  <element name="RealEstateRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_RealEstateRiskMember" substitutionGroup="xbrli:item" />
  <element name="USGovernmentSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_USGovernmentSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="ConvertibleSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ConvertibleSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="ContingentConvertibleSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ContingentConvertibleSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="ValuationRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ValuationRiskMember" substitutionGroup="xbrli:item" />
  <element name="LeverageRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_LeverageRiskMember" substitutionGroup="xbrli:item" />
  <element name="FocusedInvestmentRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_FocusedInvestmentRiskMember" substitutionGroup="xbrli:item" />
  <element name="EquityRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_EquityRiskMember" substitutionGroup="xbrli:item" />
  <element name="OtherPooledInvestmentVehiclesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_OtherPooledInvestmentVehiclesRiskMember" substitutionGroup="xbrli:item" />
  <element name="DerivativesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_DerivativesRiskMember" substitutionGroup="xbrli:item" />
  <element name="CreditDefaultSwapsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CreditDefaultSwapsRiskMember" substitutionGroup="xbrli:item" />
  <element name="StructuredInvestmentsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_StructuredInvestmentsRiskMember" substitutionGroup="xbrli:item" />
  <element name="CounterpartyRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CounterpartyRiskMember" substitutionGroup="xbrli:item" />
  <element name="ConfidentialInformationAccessRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ConfidentialInformationAccessRiskMember" substitutionGroup="xbrli:item" />
  <element name="PrivatePlacementsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PrivatePlacementsRiskMember" substitutionGroup="xbrli:item" />
  <element name="InflationDeflationRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_InflationDeflationRiskMember" substitutionGroup="xbrli:item" />
  <element name="InsuranceLinkedAndOtherInstrumentsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_InsuranceLinkedAndOtherInstrumentsRiskMember" substitutionGroup="xbrli:item" />
  <element name="RegulatoryChangesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_RegulatoryChangesRiskMember" substitutionGroup="xbrli:item" />
  <element name="TaxRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_TaxRiskMember" substitutionGroup="xbrli:item" />
  <element name="PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PotentialConflictsOfInterestRiskAllocationOfInvestmentOpportunitiesMember" substitutionGroup="xbrli:item" />
  <element name="RepurchaseAgreementsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_RepurchaseAgreementsRiskMember" substitutionGroup="xbrli:item" />
  <element name="DistributionRateRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_DistributionRateRiskMember" substitutionGroup="xbrli:item" />
  <element name="ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ZeroCouponBondsStepUpsAndPaymentInKindSecuritiesRiskMember" substitutionGroup="xbrli:item" />
  <element name="RiskRetentionInvestmentRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_RiskRetentionInvestmentRiskMember" substitutionGroup="xbrli:item" />
  <element name="SubsidiaryRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_SubsidiaryRiskMember" substitutionGroup="xbrli:item" />
  <element name="PortfolioTurnoverRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PortfolioTurnoverRiskMember" substitutionGroup="xbrli:item" />
  <element name="OperationalRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_OperationalRiskMember" substitutionGroup="xbrli:item" />
  <element name="MarketDisruptionsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_MarketDisruptionsRiskMember" substitutionGroup="xbrli:item" />
  <element name="CyberSecurityRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CyberSecurityRiskMember" substitutionGroup="xbrli:item" />
  <element name="NonDiversificationRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_NonDiversificationRiskMember" substitutionGroup="xbrli:item" />
  <element name="ShortExposureRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_ShortExposureRiskMember" substitutionGroup="xbrli:item" />
  <element name="CertainAffiliationsMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CertainAffiliationsMember" substitutionGroup="xbrli:item" />
  <element name="AntiTakeoverProvisionsMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_AntiTakeoverProvisionsMember" substitutionGroup="xbrli:item" />
  <element name="PrivateFundsRiskTaxRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_PrivateFundsRiskTaxRiskMember" substitutionGroup="xbrli:item" />
  <element name="GeopoliticalConflictsRiskMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_GeopoliticalConflictsRiskMember" substitutionGroup="xbrli:item" />
  <element name="CommonSharesMember" type="dtr-types:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="pfemif_CommonSharesMember" substitutionGroup="xbrli:item" />
</schema>
