AllianzGI Convertible & Income Fund Reports Results for the Fiscal Quarter and Six Months Ended August 31, 2016

AllianzGI Convertible & Income Fund (the "Fund") (NYSE:NCV), a diversified closed-end management investment company which seeks to provide total return through a combination of capital appreciation and high current income, today announced its results for the fiscal quarter and six months ended August 31, 2016.

At August 31,

2016

2015

        
        
        
      
      
        
          Net Assets (a)
        
        
        
        
          $944,240,772
        
        
        
        
        
        
        
        
        
        
          $997,103,465
        
        
        
      
      
        
          Common Shares Outstanding
        
        
        
        
          88,089,521
        
        
        
        
        
        
        
        
        
        
          87,956,663
        
        
        
      
      
        
          Net Asset Value ("NAV")
        
        
        
        
          $6.67
        
        
        
        
        
        
        
        
        
        
          $7.28
        
        
        
      
      
        
          Market Price
        
        
        
        
          $6.65
        
        
        
        
        
        
        
        
        
        
          $7.22
        
        
        
      
      
        
          Discount to NAV
        
        
        
        
          (0.30
        
        
          )%
        
        
        
        
        
        
        
        
          (0.82
        
        
          )%
        
      
      
        
          Undistributed Net Investment Income
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Per Common Share (b)
        
        
        
        
          $0.0533
        
        
        
        
        
        
        
        
        
        
          $0.0202
        
        
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
          

Quarter ended August 31,

2016

2015

        
        
        
      
      
        
          Net Investment Income (c)
        
        
        
        
          $15,639,976
        
        
        
        
        
        
        
        
        
        
          $18,965,599
        
        
        
      
      
        
          Per Common Share (c)
        
        
        
        
          $0.17
        
        
        
        
        
        
        
        
        
        
          $0.21
        
        
        
      
      
        
          Net Realized and Change in Unrealized Gain (Loss) (c)
        
        
        
        
          $37,578,521
        
        
        
        
        
        
        
        
        
        
          $(83,335,472
        
        
          )
        
      
      
        
          Per Common Share (c)
        
        
        
        
          $0.44
        
        
        
        
        
        
        
        
        
        
          $(0.94
        
        
          )
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
          

Six Months ended August 31,

2016

2015

        
        
        
      
      
        
          Net Investment Income (c)
        
        
        
        
          $31,897,354
        
        
        
        
        
        
        
        
        
        
          $37,268,750
        
        
        
      
      
        
          Per Common Share (c)
        
        
        
        
          $0.36
        
        
        
        
        
        
        
        
        
        
          $0.42
        
        
        
      
      
        
          Net Realized and Change in Unrealized Gain (Loss) (c)
        
        
        
        
          $105,726,471
        
        
        
        
        
        
        
        
        
        
          $(91,617,886
        
        
          )
        
      
      
        
          Per Common Share (c)
        
        
        
        
          $1.21
        
        
        
        
        
        
        
        
        
        
          $(1.04
        
        
          )
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    
      
        
          (a)
        
        
           
        
        
          Net assets are inclusive of Preferred Shares of $357 million.
        
      
      
        
        
        
        
        
           
        
      
      
        
          (b)
        
        
        
        
          Since the Fund's net earning rates fluctuate from month to month, 
          there will be periods when the Fund may over-earn or under-earn its 
          monthly dividend rate. This fluctuation will have the effect of 
          adding to or subtracting from the Fund's undistributed net 
          investment income balance. Fund management analyzes the current and 
          projected net earning rates prior to recommending dividend amounts 
          to the Fund's Board of Trustees for declaration. There can be no 
          assurance that the monthly dividend rate will remain at its current 
          level or that the undistributed net investment income balance will 
          be sufficient to cover any shortfall in earnings to meet the current 
          dividend rate. The undistributed net investment income balance is 
          exclusive of market premium amortization on corporate bonds in 
          accordance with federal income tax treatment. The undistributed net 
          investment income balance includes realized gain (loss) on the sale 
          of contingent debt and Section 305 sales adjustments for accrual of 
          deemed dividends from investments in convertible debt in accordance 
          with federal income tax treatment.
        
      
      
        
        
        
        
        
           
        
      
      
        
          (c)
        
        
        
        
          Net Investment Income for the fiscal quarter and six months ended 
          August 31, 2016 includes market premium amortization on corporate 
          bonds of $642,758 (less than $0.01 per common share) and $1,267,005 
          ($0.01 per common share), respectively. Net Investment Income for 
          the fiscal quarter and six months ended August 31, 2015 includes 
          market premium amortization on corporate bonds of $945,631 ($0.01 
          per common share) and $1,973,291 ($0.02 per common share), 
          respectively. For tax purposes, the Fund has elected not to amortize 
          market premium on corporate bonds.
        
      
    
    

Allianz Global Investors U.S. LLC an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P., serves as the Fund's investment manager and is a member of Munich-based Allianz Group.

The Fund's daily New York Stock Exchange closing market price, NAV, as well as other information, are available at us.allianzgi.com/closedendfunds or by calling the Fund's shareholder servicing agent at [phone].

The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to the results reported herein. Information that was obtained from third party sources we believe to be reliable is not guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Fund will fluctuate. There can be no assurance that the Fund will meet its stated objective. The Fund's ability to pay dividends to common shareholders is subject to the restrictions in its registration statement, By-laws and other governing documents as well as the Investment Company Act of 1940. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.

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