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AllianzGI Convertible & Income Fund II Reports Results for the Fiscal Quarter Ended May 31, 2018

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AllianzGI Convertible & Income Fund II (the "Fund") (NYSE:NCZ), a
diversified 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
ended May 31, 2018.

     

 

At May 31,

2018

2017

Net Assets (a) $695,091,797 $723,381,920
Common Shares Outstanding 75,067,600 74,547,996
Net Asset Value ("NAV") $5.61 $6.03
Market Price $5.98 $6.20
Premium to NAV 6.60 % 2.82 %
Overdistributed Net Investment Income
Per Common Share (b) $(0.0453 ) $(0.0039 )
 

 

Quarter ended May 31,

2018

2017

Net Investment Income (c) $10,766,633 $12,029,707
Per Common Share (c) $0.14 $0.16
Net Realized and Change in Unrealized Loss (c) $(15,978,581 ) $(6,608,007 )
Per Common Share (c) $(0.21 ) $(0.09 )
 
 
(a) Net assets are inclusive of Preferred Shares of $274 million.
 
(b) Since the Fund's net earning rates fluctuate from month to month,
there will be periods when the Fund may over-earn or under-earn its
monthly dividend rate. This fluctuation will have the effect of
adding to or subtracting from the Fund's overdistributed net
investment income balance. Fund management analyzes the current and
projected net earning rates prior to recommending dividend amounts
to the Fund's Board of Trustees for declaration. There can be no
assurance that the monthly dividend rate will remain at its current
level or that the undistributed net investment income balance, if
any, will be sufficient to cover any shortfall in earnings to meet
the current dividend rate. The overdistributed net investment income
balance is exclusive of market premium amortization on corporate
bonds in accordance with federal income tax treatment. The
overdistributed net investment income balance includes realized gain
(loss) on the sale of contingent debt and Section 305 sales
adjustments for accrual of deemed dividends from investments in
convertible debt in accordance with federal income tax treatment.
 
(c) Net Investment Income for the fiscal quarters ended May 31, 2018 and
May 31, 2017 includes market premium amortization on corporate bonds
of $382,324 ($0.01 per common share) and $400,701 ($0.01 per common
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, are available at us.allianzgi.com/en-us/products-solutions/closed-end-funds
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 that the Fund will meet its stated objective. The
Fund's ability to pay dividends to common shareholders is subject to the
restrictions in its registration statement, By-laws and other governing
documents as well as the Investment Company Act of 1940. In making any
investment decision, individuals should utilize other information
sources and the advice of their own professional adviser.

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