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Summary Information: Virtus AllianzGI Equity & Convertible Income Fund Common Shares of Beneficial Interest NYSE:NIE |
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_Description: Virtus AllianzGI Equity & Convertible Income Fund seeks total return comprised of capital appreciation, current income, and gains.\r 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.\r \r The equity component of the Fund may vary from 40-80% and the convertible component may vary from 20-60% of assets.\r \r 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.
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