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AllianzGI Equity & Convertible Income Fund Reports Results for the Fiscal Quarter and Six Months Ended July 31, 2014

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AllianzGI Equity & Convertible Income Fund (the “Fund”) (NYSE:NIE) , a diversified closed-end management investment company which seeks total return comprised of capital appreciation, current income and gains, today announced its results for the fiscal quarter and six months ended July 31, 2014.

At July 31,

2014

2013

Net Assets $633,155,989 $474,521,763
Shares Outstanding 27,708,965 22,304,189
Net Asset Value (“NAV”) $22.85 $21.28
Market Price $19.87 $18.82
Discount to NAV (13.04)% (11.56)%

Quarter ended July 31,

2014

2013

Net Investment Income $3,838,359 $3,751,423
Per Share $0.14 $0.16
Net Realized and Change in Unrealized Gain $9,723,439 $16,955,300
Per Share $0.35 $0.77

Six Months ended July 31,

2014

2013

Net Investment Income $7,628,393 $6,112,556
Per Share $0.28 $0.27
Net Realized and Change in Unrealized Gain $37,258,941 $32,515,967
Per Share $1.34 $1.47

Allianz Global Investors Fund Management LLC (“AGIFM”), 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. Allianz Global Investors U.S. LLC, an affiliate of AGIFM, serves as the Fund’s sub-adviser.

The Fund’s daily New York Stock Exchange closing market price, NAV, as well as other information, is available at us.allianzgi.com/closedendfunds 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 the Fund will meet its stated objective. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.

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