Market Overview

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


AllianzGI Convertible & Income Fund (the "Fund") (NYSE:NCV), 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,



Net Assets (a) $913,184,200 $951,286,361
Common Shares Outstanding 88,996,725 88,333,702
Net Asset Value ("NAV") $6.25 $6.73
Market Price $6.88 $6.95
Premium to NAV 10.08% 3.27%
Undistributed (Overdistributed) Net Investment Income
Per Common Share (b) $(0.0522) $0.0844


Quarter ended May 31,



Net Investment Income (c) $14,298,558 $15,875,469
Per Common Share (c) $0.16 $0.18
Net Realized and Change in Unrealized Loss (c) $(20,644,121) $(9,418,888)
Per Common Share (c) $(0.23) $(0.10)
(a)   Net assets are inclusive of Preferred Shares of $357 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 undistributed
(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
undistributed (overdistributed) net investment income balance is
exclusive of market premium amortization on corporate bonds in
accordance with federal income tax treatment. The undistributed
(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 $490,692 ($0.01 per common share) and $514,298 ($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
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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