AllianzGI Convertible & Income Fund Reports Earnings Results for the Third Quarter and Nine Months Ended November 30, 2018
January 29, 2019 at 04:05 pm EST
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AllianzGI Convertible & Income Fund reported earnings results for the third quarter and nine months ended November 30, 2018. For the quarter, net investment income was $11,972,510 or $0.14 per share against $15,720,313 or $0.18 per share a year ago. Net realized and change in unrealized loss was $52,542,402 or $0.59 per share against gain of $9,268,312 or $0.11 per share a year ago.
For nine months, net investment income was $39,688,834 or $0.45 per share against $47,309,384 or $0.54 per share a year ago. Net realized and change in unrealized loss was $62,643,314 or $0.70 per share against $7,049,262 or $0.07 per share 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 
