Virtus Convertible & Income Fund

A closed-end investment fund incorporated in Massachusetts and managed by Allianz Global Investors, Virtus Convertible & Income Fund operates as a fixed-income mutual fund trading on the NYSE under the ticker NCV-PA. The fund invests primarily in convertible securities and non-convertible high-yield bonds rated below investment grade, focusing on U.S. fixed income markets. Portfolio construction emphasizes a broad range of maturities, typically maintaining a weighted average maturity between five and ten years.

The fund employs a fundamental, bottom-up investment approach supported by in-house research utilizing proprietary analytical models. Investment decisions derive from security-level analysis rather than top-down macroeconomic positioning. The portfolio targets convertible instruments—hybrid securities combining equity and debt characteristics—alongside speculative-grade corporate bonds, generating income through coupon payments and potential capital appreciation.

Virtus Convertible & Income Fund is domiciled in the United States with headquarters in New York, New York. As a closed-end fund structure, it operates with a fixed number of outstanding shares, distinguishing it from open-end mutual funds. The fund was established in March 2003 and previously operated under the name AGIC Convertible & Income Fund before rebranding under the Virtus umbrella.