Virtus Diversified Income & Convrtble Fd (N:ACV)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 101 Munson Street GREENFIELD MA 01301 |
| Tel: | 1-860-2634709 |
| Website: | us.allianzgi.com |
| IR: | See website |
| Key People | ||
| W. Patrick Bradley Chief Financial Officer, Executive Vice President, Treasurer | Mahmood Rahman Assistant Vice President | Richard W. Smirl Executive Vice President |
| Peter J. Batchelar Senior Vice President | Julia R. Short Senior Vice President | Timothy Branigan Fund Chief Compliance Officer, Vice President |
| Jennifer S. Fromm Vice President, General Counsel, Secretary, Chief Legal Officer | Nikita K. Thaker Vice President, Controller, Assistant Treasurer | Amy Hackett Vice President, Assistant Treasurer | Suneeta Krishnan Vice President, Assistant Treasurer |
| Business Overview |
| Virtus Diversified Income & Convertible Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide total return through a combination of current income, current gains and long-term capital appreciation. The Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of convertible securities, income-producing equity securities and income-producing debt and other instruments of varying maturities, of which at least 50% of total managed assets are invested in convertibles. The Fund has the latitude to write covered call options on the stocks held in the equity portion. The Fund's investment advisor is Virtus Investment Advisers, Inc., and its investment subadvisor is Voya Investment Management Co. LLC. |
| Financial Overview |
| For the fiscal year ended 31 January 2024, Virtus Diversified Income & Convrtble Fd revenues increased 11% to $8.6M. Net income totaled $18.6M vs. loss of $38.1M. Revenues reflect Interest increase of 13% to $6.1M, Dividends (net of foreign withholding ta increase of 8% to $2.5M. Net Income reflects Unaffiliated Investments increase from $33.4M (expense) to $26.9M (income), Professional fees decrease of 54% to $46K (expense). |
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