Allianzgi Convertible & Income Fund Reports Earnings Results for the Quarter Ended May 31, 2016

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.