Virtus AllianzGI Equity & Convertible Income Fund
Virtus AllianzGI Equity & Convertible Income Fund
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.
Contact Us
Contact your financial representative for more information.
Email or call for service at
1-800-254-5197
Investment Partner
Investment Professionals
Douglas G. Forsyth, CFA
Managing Director, Portfolio Manager, CIO US Income & Growth Strategies
Industry start date: 1991
Start date as fund Portfolio Manager: 2007
Justin M. Kass, CFA
Managing Director, Portfolio Manager
Industry start date: 1998
Start date as fund Portfolio Manager: 2007
Michael E. Yee
Managing Director, Portfolio Manager
Industry start date: 1994
Start date as fund Portfolio Manager: 2007
Performance
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
Expenses
Portfolio Breakdown (% Fund)
| Common Equities | |
| Convertible Securities | |
| Cash and Equivalents | |
| Other | |
| Derivatives |
Allocations are subject to change daily.
Credit Quality (% Invested Assets)
| AAA | |
| AA | |
| A | |
| BBB | |
| BB | |
| B | |
| CCC and Below | |
| Not Rated |
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)
| Information Technology | |
| Consumer Discretionary | |
| Health Care | |
| Communication Services | |
| Financials | |
| Industrials | |
| Energy | |
| Materials | |
| Real Estate | |
| Utilities | |
| Consumer Staples |
Allocations are subject to change daily.
Top Holdings (% Fund)
| Security | |
|---|---|
| Alphabet, Inc.- Cl A | |
| Facebook Inc | |
| Microsoft Corp | |
| Apple Inc | |
| Amazon.com Inc | |
| Tesla Inc | |
| Home Depot Inc/The | |
| Visa Inc | |
| NVIDIA Corp | |
| Mastercard Inc |
Holdings are subject to change.
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 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 |
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
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 email or call for service at 1-800-254-5197.
Risk Considerations
Distributions
Holdings
Section 19a Notices
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 |
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) |