Virtus Equity & Convertible Income Fund
NIE
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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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
- Charles William Maher
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 1633 Broadway New York City NY United States of America 10019
- IPO Date
- Feb 23, 2007
- CIK
- 0001383441
- Website
- allianzinvestors.com
- Similar Companies
- Business
- Virtus Equity & Convertible Income Fund (NYSE: NIE) is a diversified, closed-end management investment company that seeks total return through a combination of capital appreciation, current income, and gains. The Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities and income-producing convertible securities, with the equity component typically comprising 40-80% of assets and the convertible component 20-60%; it also employs an options strategy by writing call options on approximately 70% of the value of equity holdings to generate premium income, enhance shareholder distributions, and reduce portfolio risk. Portfolio allocations emphasize sectors such as information technology (approximately 35%), financials, consumer discretionary, and industrials, with top holdings including NVIDIA Corp., Microsoft Corp., and Apple Inc.. The Fund was formed on February 27, 2007, and is managed by Virtus Investment Advisers, Inc., with Voya Investment Management Co. LLC serving as subadviser; it is headquartered in Hartford, Connecticut, at One Financial Plaza. It primarily targets income-oriented investors seeking exposure to U.S. equity and convertible markets through a closed-end structure traded on the NYSE. The Fund maintains a managed distribution plan providing consistent quarterly distributions of $0.50 per share, funded from net investment income, realized capital gains, or return of capital as needed. Recent developments include the addition of K. Mathew Axline, CFA, as a lead portfolio manager in 2025, expanding the management team that also features Justin M. Kass, CFA (since 2007), Michael E. Yee (since 2007), David J. Oberto (since 2022), and Ethan Turner, CFA (since 2023); in September 2025, four Virtus closed-end funds, including NIE, added a portfolio manager to strengthen oversight. The Fund instituted its managed distribution plan in December 2021, increasing the quarterly payout to $0.50 per share, and continues quarterly distributions through 2025 (e.g., ex-dates in March, June, and September). It previously operated as AllianzGI Equity & Convertible Income Fund prior to rebranding under Virtus following a 2021 strategic partnership between Virtus Investment Partners and Allianz Global Investors.