Virtus Convertible & Income Fund
NCV
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- George Robert Aylward
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 1633 Broadway New York City NY United States of America 10019
- IPO Date
- Mar 31, 2003
- CIK
- 0001214935
- Website
- allianzinvestors.com
- Similar Companies
- Business
- Virtus Convertible & Income Fund (NYSE: NCV) is a diversified, closed-end management investment company that seeks total return through a combination of capital appreciation and high current income by investing at least 80% of its total assets in a portfolio of convertible securities and non-convertible income-producing securities, with at least 50% normally allocated to convertible securities; the remainder targets high-yield bonds rated below investment grade, with up to 20% in other securities, across sectors including information technology, industrials, financials, consumer discretionary, and health care. The Fund employs leverage through preferred shares and borrowed debt, with effective leverage at approximately 33.92% as of November 2025, comprising mandatory redeemable preferred shares and short-term loans. It offers monthly distributions to common shareholders, currently at $0.136 per share (ex-dating December 11, 2025), and quarterly distributions on its 5.625% Series A Cumulative Preferred Shares, such as $0.3515625 payable December 31, 2025. Portfolio management is led by Voya Investment Management, with a team including Justin M. Kass (since 2003), Michael E. Yee (since 2022), David J. Oberto (since 2022), K. Mathew Axline (since 2025), and Ethan Turner (since 2023). Founded in 2003 and formerly known as AGIC Convertible & Income Fund, the Fund is managed by Allianz Global Investors Fund Management LLC (now under Virtus Investment Partners), with Voya Investment Management as subadviser, and is headquartered in the United States with primary operations in U.S. fixed income and convertible markets targeting institutional and retail investors seeking income and growth. Recent developments include a 1-for-4 reverse stock split effective February 10, 2025, alongside sister fund NCZ, to increase per-share market price, broaden the investor base, and reduce transaction costs, with adjusted post-split distributions of $0.136 per share in February and March 2025; addition of K. Mathew Axline as portfolio manager in 2025 and four Virtus closed-end funds adding managers in September 2025; and ongoing monthly distribution announcements through December 2025, with Section 19(a) notices detailing compositions.