Profile: Allianzgi Global Equity & Convertible Income Fund (NGZ)
22 May 2013
Nicholas-Applegate Global Equity & Convertible Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek total return consisting of capital appreciation, current income and gains. The Fund will pursue its investment objective by investing in a diversified, global portfolio of equity securities (the Equity Component) and income-producing convertible securities (the Convertible Component). 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. The Fund seeks to invest at least 40% of its total assets in securities of issuers that are tied economically to countries other than the United States, and seeks to have exposure to at least eight different countries (including the United States). Initially, the Fund seeks to invest approximately 50% of its total assets in United States securities and 50% of its total assets in non-United States securities. The Fund may invest up to 10% of its total assets in issuers tied economically to developing or emerging market countries. Allianz Global Investors Fund Management LLC serves as the investment manager of the Fund. Nicholas-Applegate Capital Management LLC serves as sub-advisor of the Fund.
The Equity Component will ordinarily consist of common stocks, but may also include other types of equity securities, including preferred stocks, depository receipts, rights and warrants of United States and non-United States issuers. The Fund seeks to focus its equity investments in companies with larger market capitalizations in relation to other companies in their particular markets, but may invest in securities of companies of any size. The non-United States companies in which the Fund invests may have market capitalizations that are small in relation to larger United States companies. The Fund may purchase securities in initial public offerings (IPOs).
The Convertible Component will ordinarily consist principally of income-producing convertible securities of United States and non-United States issuers, including bonds, debentures, notes, preferred stocks, and other securities or investments that may be converted or exchanged (by the holder or issuer) into equity securities of the issuer (or cash or securities of equivalent value), as well as synthetic convertible securities. The Fund may also invest up to 20% of its total assets in non-convertible, income-producing securities, including, but not limited to, bonds, debentures, notes, government securities, mortgage-related securities and other types of debt instruments. The Fund’s investments in securities of issuers located outside of the United States may include common stocks, preferred stocks and depositary receipts, including American depositary receipts (ADRs), European depositary receipts (EDRs) and Global depositary receipts (GDRs).
Allianzgi Global Equity & Convertible Income Fund
NEW YORK NY 10019