AGIC Convertible & Income Fund Announces Financial Results for the Third Quarter and Nine Months Ended November 30, 2011
January 30, 2012 at 09:00 pm
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AGIC Convertible & Income Fund announced financial results for the third quarter and nine months ended November 30, 2011. For the quarter, the company reported net investment income of $20,053,889 or $0.26 per common share against $22,291,386 or $0.30 per common share a year ago. Net realized and change in unrealized loss was $38,010,605 or $0.50 per common share against net realized and change in unrealized gain of $31,395,986 or $0.42 per common share a year ago.
For the nine months, the company reported net investment income of $60,299,893 or $0.80 per common share against $66,627,469 or $0.90 per common share a year ago. Net realized and change in unrealized loss was $145,186,760 or $1.93 per common share against net realized and change in unrealized gain of $18,192,195 or $0.25 per common share a year ago. Net asset value as on November 30, 2011 was $7.82 against $9.13 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 
