AllianzGI Convertible & Income Fund Reports Earnings Results for the Second Quarter and Six Months Ended August 31, 2018
October 30, 2018 at 04:05 pm EDT
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AllianzGI Convertible & Income Fund reported earnings results for the second quarter and six months ended August 31, 2018. For the quarter, the company reported net investment income of $13,417,766 or $0.15 per common share against $15,713,602 or $0.18 per common share a year ago. Net realized and change in unrealized gain was $10,543,209 or $0.12 per common share against net realized and change in unrealized loss of $6,898,686 or $0.08 per common share a year ago.
For the six months, the company reported net investment income of $27,716,324 or $0.36 per common share against $31,589,071 or $0.36 per common share a year ago. Net realized and change in unrealized loss was $10,100,912 or $0.11 per common share against $16,317,574 or $0.18 per common share a year ago. As at August 31, 2018, the company’s net asset value was $6.39 against $6.62 a year ago.
Virtus Convertible & Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide total return through a combination of capital appreciation and high current income. Under normal circumstances, the Fund invest approximately 80% of its total assets in a diversified portfolio of convertible securities and non-convertible income-producing securities. The Fund seeks to invest at least 50% of the portfolio in convertible securities, but determines the allocation based on changes in equity prices, changes in interest rates, and other economic and market factors. The Fund invests in various sectors, including airlines, auto manufacturers, banks, computers, biotechnology, diversified financial services, commercial services, healthcare products and media, among others. The Fund's investment advisor is Virtus Investment Advisers, Inc., and its investment subadvisor is Voya Investment Management Co. LLC.
VIRTUS CONVERTIBLE & INCOME FUND 
