Virtus Convertible & Income Fund (NYSE: NCV) is a diversified, closed-end management investment company that seeks to provide shareholders with high current income and capital appreciation. The fund primarily invests in a global portfolio of convertible securities, investment-grade corporate bonds, high-yield debt and preferred stocks. By blending the growth potential of equity-linked instruments with the income characteristics of fixed-income securities, NCV aims to generate an attractive total return over a full market cycle.
Since its inception in the mid-2000s, NCV has employed a flexible investment approach that allows its managers to allocate assets across various credit qualities, sectors and geographies. While the majority of holdings tend to be domiciled in North America, the fund may also take positions in European and Asian convertible and fixed-income markets to capitalize on relative value opportunities. This global remit helps the portfolio navigate shifting market environments and interest-rate regimes.
NCV is managed by the experienced convertible and fixed-income team at Virtus Investment Partners, headquartered in Hartford, Connecticut. The portfolio managers draw on decades of combined industry expertise, supported by dedicated credit analysts and trading specialists. Through fundamental research and disciplined risk management, the investment team seeks to balance income generation with downside protection.
As a closed-end fund, NCV offers the potential for both regular monthly distributions and long-term capital growth, making it a vehicle for investors looking to diversify within the income space. The fund’s structure allows management to pursue opportunistic strategies—such as leveraging or hedging—without the constraints of daily cash flows that affect open-end vehicles, providing additional flexibility in managing the portfolio’s risk and return profile.
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