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Closed-End Fund Multi-Asset

Virtus AllianzGI Equity & Convertible Income Fund

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Ticker
CUSIP
Inception
Market Price
$
(as of )
Premium/Discount
%
Managed Assets
$ (as of )
Net Assets
$ (as of )
Average Daily Volume
(as of )
Shares Outstanding
Distribution Frequency

Portfolio Overview

Investment Overview

The Fund seeks total return comprised of capital appreciation, current income, and gains.

Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in a combination of equity securities and income-producing convertible securities.

The equity component of the Fund may vary from 40-80% and the convertible component may vary from 20-60% of assets.

The Fund typically employs a strategy of writing (selling) call options on the stocks held in the equity component, generally with respect to approximately 70% of the value of each stock position. The extent to which the Fund uses this strategy will vary depending on market conditions and other factors. This strategy is intended to generate current gains from options premiums as a means to enhance distributions payable to the Fund's shareholders and to reduce overall portfolio risk.

Effective February 1, 2021, this fund's name and investment adviser have changed.

Management Team

Investment Partner

Allianz Global Investors U.S. LLC


Learn more about Allianz Global Investors U.S. LLC

Investment Professionals

Forsyth, Doug

Douglas G. Forsyth, CFA

Managing Director, Portfolio Manager, CIO US Income & Growth Strategies

Industry start date: 1991
Start date as fund Portfolio Manager: 2007

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Kass, Justin

Justin M. Kass, CFA

Managing Director, Portfolio Manager

Industry start date: 1998
Start date as fund Portfolio Manager: 2007

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Yee, Michael

Michael E. Yee

Managing Director, Portfolio Manager

Industry start date: 1994
Start date as fund Portfolio Manager: 2007

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Performance & Risk

Performance

As of
As of

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.

Performance reflects the deduction of fund operating expenses. Performance does not reflect the incurrence of brokerage expenses, which typically apply to exchange traded products. Total return net of brokerage expenses would be lower than the total returns on market value shown in the table.

Expenses

Portfolio

Portfolio Breakdown (% Fund)

(as of 06/30/2021)
Common Equities
63.92
 63.92%
Convertible Securities
34.88
 34.88%
Cash and Equivalents
1.31
 1.31%
Other
0.00
 0.00%
Derivatives
-0.12
 -0.12%

Allocations are subject to change daily.

Credit Quality (% Invested Assets)

(as of 06/30/2021)
AAA
0.00
 0.00%
AA
0.00
 0.00%
A
1.67
 1.67%
BBB
5.51
 5.51%
BB
3.98
 3.98%
B
1.36
 1.36%
CCC and Below
0.00
 0.00%
Not Rated
87.48
 87.48%

Credit ratings issued by Nationally Recognized Statistical Rating Organizations assess the credit worthiness of the issuers of the underlying securities and not to the Fund or its shares. Ratings are measured using a scale that ranges from AAA (highest) to NR (not rated). Not rated securities do not necessarily indicate low quality. The security's credit rating does not eliminate risk and credit ratings are subject to change. Credit Quality reflects the higher of the ratings of Standard & Poor's Corporation and Moody's Investors Service, Inc. Only one rating will be utilized if only one is available. Ratings are then adjusted to the Standard & Poor's rating tiers shown. Ratings are subject to change.

Sector Allocation (% Invested Assets)

(as of 06/30/2021)
Information Technology
34.65
 34.65%
Consumer Discretionary
20.35
 20.35%
Health Care
14.50
 14.50%
Communication Services
13.97
 13.97%
Financials
4.75
 4.75%
Industrials
4.30
 4.30%
Energy
3.41
 3.41%
Materials
1.22
 1.22%
Real Estate
1.09
 1.09%
Utilities
1.04
 1.04%
Consumer Staples
0.73
 0.73%

Allocations are subject to change daily.

Top Holdings (% Fund)

(as of 06/30/2021)
Security
Alphabet, Inc.- Cl A
3.57
 3.57%
Facebook Inc
3.55
 3.55%
Microsoft Corp
3.42
 3.42%
Apple Inc
3.28
 3.28%
Amazon.com Inc
2.98
 2.98%
Tesla Inc
1.79
 1.79%
Home Depot Inc/The
1.61
 1.61%
Visa Inc
1.60
 1.60%
NVIDIA Corp
1.53
 1.53%
Mastercard Inc
1.45
 1.45%

Holdings are subject to change.

Leverage

Assets (in millions)

(as of 09/30/2021)
Total Net Assets $903.16
Total Preferred Assets $0.00
Total Borrowed Debt $0.00
Total Managed Assets $903.16

Effective Leverage

(as of 09/30/2021)
Preferred Shares 0.00%
Borrowed Debt 0.00%
Total Effective Leverage 0.00%

Borrowed Debt Leverage Statistics

(as of 09/30/2021)
Short Term Notes $0.00
Short Term Loan $0.00
Assets (in Millions):

Total Net Assets: includes Net Assets Applicable to Common Shareholders
Total Preferred Assets: consist of the value of: Auction Rate Preferred Shares, and/or Series A Cumulative Preferred Shares, and/or Mandatory Redeemable Preferred Shares.
Total Managed Assets: Total Net Assets + Total Preferred Assets + Borrowed Debt

Effective Leverage:

Preferred Assets: % consists of Total Preferred assets divided by Total Managed Assets.
Borrowed Debt: % is short term debt + long term debt divided Total Managed Assets
Total Effective Leverage (%) consists of Preferred Assets + Borrowed Debt, as applicable, divided by Total Managed Assets

Distributions

Ex. Dividend Date
Record Date
Payable Date
Frequency
Latest($/Share)
YTD($/Share)
Market Price Distribution Rate
(as of )

Distributions are not guaranteed and are subject to change.

Distributions may be comprised of net investment income, capital gains and/or return of capital. Please refer to Section 19a notices below, if applicable for estimates on the composition of the distribution.

Year-to-Date Distribution History

Month Ex-Date Payable Date Distribution
September 09/10/2021 09/24/2021 $0.380000
June 06/11/2021 06/25/2021 $0.380000
March 03/12/2021 03/26/2021 $0.380000

Ex-Date Record Date Payable Date Total Distribution ($/Share)



You should not draw any conclusions about the Fund’s investment performance from its distributions. Please view the Fund’s Section 19a notices below, if applicable, which set forth information regarding the estimated composition of the distributions, including any portion that may constitute a return of capital.

The distribution table above is for informational purposes only and should not be used for tax reporting purposes. A Form 1099 DIV (or substitute Form 1099 DIV) will be sent to shareholders at the beginning of each year that will state the federal tax status of distributions received during the previous calendar year. Please consult a tax professional regarding specific tax matters.

Form 8937 Organizational Actions

Automatic Reinvestment Plan

This plan offers shareholders a convenient way to acquire additional shares of the fund. Registered holders will be automatically placed in the Plan. If shares are held at a brokerage firm, contact your broker about participation.

Net Asset Value vs. Market Price

Net Asset Value (NAV) represents the total value of all assets held by the Fund (minus its total liabilities), divided by the total number of common shares outstanding. The net asset value returns reflect the performance of the manager. Market price is the price at which investors may purchase or sell shares of the Fund. Market price is determined in the open market by buyers and sellers, based on supply and demand. The Fund’s Market Price fluctuates throughout the day and may differ from its underlying NAV. Shares of the Fund may trade at a premium (higher than) or a discount (lower than) to NAV. This characteristic is a risk separate and distinct from the risk that the Fund’s net asset value could decline. The Fund has no control over the market price. The difference between the market price and the NAV (Premium/Discount) is expressed as a percentage of NAV.

Disclosures

There can be no assurance that the fund will achieve its investment objectives.

This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Fund.

Contact your financial representative for more information, or  or call for service at 1-800-254-5197.

Risk Considerations

Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.
Convertible Securities: A convertible security may be called for redemption at a time and price unfavorable to the portfolio.
Credit & Interest: Debt instruments are subject to various risks, including credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt instruments may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.
Options: Selling call options may limit the opportunity to profit from the increase in price of the underlying asset. Selling put options risks loss if the option is exercised while the price of the underlying asset is rising. Buying options risks loss of the premium paid for those options.
Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended.
Preferred Stocks: Preferred stocks may decline in price, fail to pay dividends, or be illiquid.
Closed-End Funds: Closed-end funds may trade at a discount or premium from their net asset values, which may affect whether an investor will realize gains or losses. They may also employ leverage, which may increase volatility.

Related Literature

Fact Sheet

Virtus AllianzGI Equity & Convertible Income Fund Fact Sheet

Distributions

September 3, 2021
June 4, 2021
March 5, 2021

Holdings

Virtus AllianzGI Equity And Convertible Income Fund Monthly Holdings
Virtus AllianzGI Equity & Convertible Income Fund Holdings Fiscal Q1
Virtus AllianzGI Equity & Convertible Income Fund Holdings Fiscal Q3

Section 19a Notices

September 2021
June 2021
March 2021

News Releases/Communications

July 16, 2021 - Certain Virtus AllianzGI Closed-End Funds Announce Future Change In Portfolio Management Team
June 8, 2021 - Virtus AllianzGI Closed-End Funds Joint Annual Meeting of Shareholders Proxy Statement
January 27, 2021 - AllianzGI Closed-End Funds Provide Additional Information on Fund Name Change
AllianzGI Equity Convertible Income Fund NIE Press Release Form 8K
AllianzGI Equity Convertible Income Fund Press Release January 31 2020
AllianzGI NIE NFJ Funds Quarterly Distribution Press Release December 2020
Allianz CEF Adjournment of Special Meeting - Press Release
AllianzGI Equity Convertible Income Fund Press Release 10.31.20
AllianzGI Equity Convertible Income Fund Press Release July 31 2020
AllianzGI CEF Second Adjournment of Special Meeting - Press Release - 12.24.20
AllianzGI Equity Convertible Income Fund Press Release Fiscal Quarter Ended April 30 2020
AllianzGI NIE NFJ Funds Quarterly Distribution Press Release September 2020
NFJ, NIE Quarterly Dividend Press Release March 2019
January 22, 2021 - AllianzGI Closed-End Funds Announce Fund Name Changes

Governance

Governance & Nominating Committee Charter (AIO/CBH/NCV/NCZ/ACV/NIE/NFJ)
Audit Oversight Committee Charter (AIO/CBH/NCV/NCZ/ACV/NIE/NFJ)
Procedures for Complaints Regarding Accounting, Internal Accounting Controls or Auditing Matters (AIO/CBH/NCV/NCZ/ACV/NIE/NFJ)
Dividend Reinvestment Plan (AIO/CBH/NCV/NCZ/ACV/NIE/NFJ)

Financial Materials

ACV NIE NFJ Annual Report
ACV NIE NFJ Semi-Annual Report
2020 NIE Tax Information