AllianzGI Equity & Convertible Income Fund Reports Results for the Fiscal Quarter and Year Ended January 31, 2019

NEW YORK–(BUSINESS WIRE)–AllianzGI Equity & Convertible Income Fund (the “Fund”) (NYSE: NIE), a
diversified closed-end management investment company which seeks total
return comprised of capital appreciation, current income and gains,
today announced its results for the fiscal quarter and year ended
January 31, 2019.

                       
At January 31,

2019

2018

Net Assets $624,314,597 $679,241,473
Shares Outstanding 27,708,965 27,708,965
Net Asset Value (“NAV”) $22.53 $24.51
Market Price $20.52 $22.08
Discount to NAV (8.92)% (9.91)%
 
 
Quarter ended January 31,

2019

2018

Net Investment Income (a) $700,769 $1,658,696
Per Share (a) $0.02 $0.06
Net Realized and Change in Unrealized Gain (a) $8,241,264 $57,009,555
Per Share (a) $0.30 $2.05
 
 
Year ended January 31,

2019

2018

Net Investment Income (a) $5,359,270 $11,124,921
Per Share (a) $0.19 $0.40
Net Realized and Change in Unrealized Gain (Loss) (a) $(18,168,519) $113,323,251
Per Share (a) $(0.65) $4.09
 
(a)   Net Investment Income for the fiscal quarter and year ended January
31, 2019 includes market premium amortization on corporate bonds of
$117,627 (less than $0.01 per share). Net Investment Income for the
fiscal quarter and year ended January 31, 2018 includes market
premium amortization on corporate bonds of $147,591 ($0.01 per
share) and $235,274 ($0.01 per 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, is available at
us.allianzgi.com/closedendfunds or by calling the Fund’s shareholder
servicing agent at (800) 254-5197.

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 the Fund will meet its stated objective. In making
any investment decision, individuals should utilize other information
sources and the advice of their own professional adviser.

Contacts

For Information on Allianz Closed-End Funds:
Financial
Advisors: (800) 926-4456
Shareholders: (800) 254-5197
Media
Relations: (212) 739-3172