NEW YORK, April 29, 2005 (PRIMEZONE) -- Nicholas-Applegate Convertible & Income Fund (the "Fund") (NYSE:NCV), a closed-end management investment company which seeks to provide total return through a combination of capital appreciation and high current income, today announced its results for the fiscal quarter and year ended February 28, 2005.
At February 28, 2005 At February 29, 2004
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Net Assets(a) $1,611,001,319 $1,626,832,545
Shares Outstanding 67,565,052 66,084,387
Net Asset Value ("NAV") $16.07 $16.67
Market Price $15.82 $16.38
Discount to NAV 1.56% 1.74%
(a) Net assets are inclusive of $525 million
Preferred shares issuance.
Quarter ended Quarter ended
February 28, 2005 February 29, 2004
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Net Investment Income $24,203,997 $26,923,366
Per Share $0.36 $0.41
Net Realized and Unrealized Gain $17,674,276 $38,179,400
Per Share $0.27 $0.58
Year ended
February 28, 2005
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Net Investment Income $98,689,848
Per Share $1.48
Net Realized and Unrealized Gain $25,264,315
Per Share $0.38
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Fund's investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Nicholas-Applegate Capital Management LLC, an Allianz Global Investors Fund Management affiliate, serves as the Fund's sub-adviser.
The Fund's daily New York Stock Exchange closing price, net asset value per share as well as other information is available at www.allianzinvestors.com or by calling the Fund's transfer agent at 1-800-331-1710.
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 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. In making an investment decision, individuals should utilize other information sources and the advice of their own professional advisor.