|
|
|
|
Nicholas-Applegate
Global Equity & Convertible Income Fund
|
Notes
to Financial
|
|
February 28, 2010 (unaudited)
|
Statements
|
|
|
1. Organization and Significant Accounting Policies
(continued)
(f) Foreign Currency Translations
The Fund’s
accounting records are maintained in U.S dollars as follows: (1) the foreign
currency market value of investments and other assets and liabilities
denominated in foreign currency are translated at the prevailing exchange rate
of the respective currency at the spot rate at 11am Eastern Time against the US
dollar, as provided by an approved pricing service; and (2) purchase and sales,
income and expenses are translated at the prevailing exchange rate on the
respective dates of such transactions. The resulting net foreign currency gain
or loss is included in the Statement of Operations.
The Fund does not
generally isolate that portion of the results of operations arising as a result
of changes in the foreign currency exchange rates from the fluctuations arising
from changes in the market prices of securities. Accordingly, such foreign
currency gain (loss) is included in net realized gain (loss) on investments.
However, the Fund does isolate the effect of fluctuations in foreign currency
exchange rates when determining the gain or loss upon the sale or maturity of
foreign currency denominated debt obligations pursuant to U.S. federal income
tax regulations; such amount is categorized as foreign currency gain or loss
for both financial reporting and income tax reporting purposes.
(g) Convertible Securities
It is the Fund’s
policy to invest a portion of its assets in convertible securities. Although
convertible securities do derive part of their value from that of the
securities into which they are convertible, they are not considered derivative
financial instruments. However, certain of the Fund’s investments in
convertible securities include features which render them more sensitive to
price changes in their underlying securities. The value of structured/synthetic
convertible securities can be affected by interest rate changes and credit
risks of the issuer. Such securities may be structured in ways that limit their
potential for capital appreciation and the entire value of the security may be
at risk of loss depending on the performance of the underlying equity security.
Consequently, the Fund is exposed to greater downside risk than traditional
convertible securities, but still less than that of the underlying common
stock.
2. Principal Risks
In the normal course
of business the Fund trades financial instruments and enters into financial
transactions where risk of potential loss exists due to, among other things,
changes in the market (market risk) or failure of the other party to a
transaction to perform (credit/counterparty risk). The Fund is exposed to
various risks such as, but not limited to, interest rate, foreign currency,
market price and credit/counterparty risks.
Interest rate risk
is the risk that fixed income securities will decline in value because of
changes in interest rates. As nominal interest rates rise, the value of certain
fixed income securities held by the Fund is likely to decrease. A nominal
interest rate can be described as the sum of a real interest rate and an
expected inflation rate. Fixed income securities with longer durations tend to
be more sensitive to changes in interest rates, usually making them more
volatile than securities with shorter durations. Duration is useful primarily
as a measure of the sensitivity of a fixed income security’s market price to
interest rate (i.e. yield) movements.
If the Fund invests
directly in foreign currencies or in securities that trade in, and receive
revenues in, foreign currencies, or in derivatives that provide exposure to
foreign currencies, it will be subject to the risk that those currencies will
decline in value relative to the U.S. dollar, or, in the case of hedging
positions, that the U.S. dollar will decline in value relative to the currency
being hedged. Currency rates in foreign countries may fluctuate significantly
over short periods of time for a number of reasons, including economic changes,
changes in interest rates, intervention (or the failure to intervene) by U.S.
or foreign governments, central banks or supranational entities such as the
International Monetary Fund, or by the imposition of currency controls or other
political developments in the United States or abroad. As a result, the Fund’s
investments in foreign currency-denominated securities may reduce the returns
of the Fund.
The market values of
equity securities, such as common and preferred stocks, or equity-related
investments, such as options and convertibles, may decline due to general
market conditions, which are not specifically related to a particular company,
such as real or perceived adverse economic changes in the general outlook for
corporate earnings, changes in interest or currency rates or adverse investor
sentiment. They may also decline due to factors which affect a particular
industry or industries, such as labor shortages or increased production costs
and competitive conditions within an industry. Equity securities and
equity-related investments generally have greater market price volatility than
fixed income securities.
|
|
|
|
|
2.28.10
|
Nicholas-Applegate Global Equity & Convertible Income Fund
Semi-Annual Report
|
23
|
|
|
|
|
Nicholas-Applegate
Global Equity & Convertible Income Fund
|
Notes
to Financial
|
|
February 28, 2010 (unaudited)
|
Statements
|
|
|
2. Principal Risks (continued)
The Fund is exposed
to credit risk on parties with whom it trades and will also bear the risk of
settlement default. The Fund seeks to minimize concentrations of credit risk by
undertaking transactions with a large number of customers and counterparties on
reorganized and reputable exchanges. The Fund could lose money if the issuer or
guarantor of a fixed income security, or the counterparty to a derivatives
contract, is unable or unwilling to make timely principal and/or interest
payments, or to otherwise honor its obligations. Securities are subject to
varying degrees of credit risk, which are often reflected in credit ratings.
Similar to credit
risk, the Fund is exposed to counterparty risk, or the risk that an institution
or other entity which the Fund has unsettled or open transactions will default.
The potential loss to the Fund could exceed the value of the financial assets
recorded in the Fund’s financial statements. Financial assets, which
potentially expose the Fund to counterparty risk, consist principally of cash
due from counterparties and investments. Nicholas-Applegate Capital Management
LLC (“NACM” or the “Sub-Adviser), as the Fund’s sub-adviser, seeks to minimize
the Fund’s counterparty risks by performing reviews of each counterparty.
Delivery of securities sold is only made once the Fund has received payment.
Payment is made on the purchase once the securities have been delivered by the
counterparty. The trade will fail if either party fails to meet its obligation.
During the six
months ended February 28, 2010, the Fund held synthetic convertible securities
with Lehman Brothers, Inc. as the counterparty. On September 15, 2008, Lehman
Brothers Holdings, Inc. filed for protection under Chapter 11 of the United
States Bankruptcy Code. The value of the relevant securities have been written
down to their estimated recoverable values.
3. Financial Derivative Instruments
Disclosure about
derivative instruments and hedging activities requires qualitative disclosures
regarding objectives and strategies for using derivatives, quantitative
disclosure about fair value amounts of gains and losses on derivative
instruments, and disclosure about credit-risk-related contingent features in
derivative agreements. The disclosure requirements distinguish between
derivatives which are accounted for as “hedges” and those that do not qualify
for such accounting. Although the Fund may sometimes use derivatives for
hedging purposes, the Fund reflects derivatives at fair value and recognizes
changes in fair value through the Fund’s Statement of Operations, and such
derivatives do not qualify for hedge accounting treatment. Derivative contract
amounts and values as of February 28, 2010, which are disclosed in the
accompanying Notes to Financial Statements, are indicative of the volume of the
Fund’s derivative activities over the reporting period.
Option Transactions
The Fund purchases
and writes (sells) put and call options on securities for hedging purposes,
risk management purposes or otherwise as part of its investment strategies. The
risk associated with purchasing an option is that the Fund pays a premium
whether or not the option is exercised. Additionally, the Fund bears the risk
of loss of premiums and changes in market value should the counterparty not
perform under the contract. Put and call options purchased are accounted for in
the same manner as portfolio securities. The cost of securities acquired
through the exercise of call options is increased by the premiums paid. The
proceeds from securities sold through the exercise of put options is decreased
by the premiums paid.
When an option is
written, the premium received is recorded as an asset with an equal liability
which is subsequently marked to market to reflect the market value of the
option written. These liabilities are reflected as options written in the
Fund’s Statement of Assets and Liabilities. Premiums received from writing
options which expire unexercised are recorded on the expiration date as a
realized gain. The difference between the premium received and the amount paid
on effecting a closing purchase transaction, including brokerage commissions,
is also treated as a realized gain, or if the premium is less than the amount
paid for the closing purchased transactions, as a realized loss. If a call
option written is exercised, the premium is added to the proceeds from the sale
of the underlying security in determining whether there has been a realized
gain or loss. If a put option written is exercised, the premium reduces the
cost basis of the security. In writing an option, the Fund bears the market
risk of an unfavorable change in the price of the security underlying the
written option. Exercise of a written option could result in the Fund
purchasing a security at a price different from its current market value.
|
|
|
|
24
|
Nicholas-Applegate Global Equity
& Convertible Income Fund Semi-Annual Report
|
2.28.10
|
|
|
|
|
|
Nicholas-Applegate
Global Equity & Convertible Income Fund
|
Notes
to Financial
|
|
February 28, 2010 (unaudited)
|
Statements
|
|
|
3. Financial Derivative Instruments (continued)
Fair Value of Derivative Instruments as of February 28, 2010:
The
following is a summary of the fair valuations of the derivative instruments
categorized by risk exposure:
The effect
of derivative instruments on the Fund’s Statement of Assets and Liabilities at
February 28, 2010:
|
|
|
|
|
|
|
Location
|
|
Market
Price
|
|
|
|
|
|
|
|
|
Liability derivatives
|
|
|
|
|
|
Call options written, at value
|
|
|
$ (41,680)
|
|
|
|
|
|
|
|
The effect of derivative
instruments on the Fund’s Statement of Operations for the six months ended
February 28, 2010:
|
|
|
|
|
|
|
Location
|
|
Market
Price
|
|
|
|
|
|
|
|
|
Realized gain (loss) on:
|
|
|
|
|
|
Call options written
|
|
|
$682,303
|
|
|
|
|
|
|
|
|
Net change in unrealized
appreciation/depreciation of:
|
|
|
|
|
|
Call options written
|
|
|
$117,438
|
|
|
|
|
|
|
|
4. Investment Manager/Sub-Adviser
The Fund has an Investment Management
Agreement (the “Agreement”) with the Investment Manager. Subject to the
supervision of the Fund’s Board of Trustees, the Investment Manager is
responsible for managing, either directly or through others selected by it, the
Fund’s investment activities, business affairs and administrative matters. Pursuant
to the Agreement, the Fund pays the Investment Manager an annual fee, payable
monthly, at the annual rate of 1.00% of the Fund’s average daily total managed
assets. Total managed assets refer to the total assets of the Fund (including
assets attributable to borrowings) minus accrued liabilities (other than
liabilities representing borrowings). The Investment Manager has retained its
affiliate NACM as Sub-Adviser to manage the Fund’s investments. Subject to the
supervision of the Investment Manager, the Sub-Adviser makes all of the Fund’s
investment decisions. The Investment Manager, and not the Fund, pays the
Sub-Adviser a monthly fee.
5. Investment in Securities
For the six months ended February 28,
2010, purchases and sales of investments, other than short-term securities and
U.S. government obligations were $34,868,111 and $37,630,676, respectively.
(a) Transactions in call options
written for the six months ended February 28, 2010:
|
|
|
|
|
|
|
|
|
|
|
|
Contracts
|
|
Premiums
|
|
|
|
|
|
|
|
|
|
Options outstanding, August 31,
2009
|
|
|
92,365
|
|
$
|
328,562
|
|
|
Options written
|
|
|
1,248,020
|
|
|
1,242,224
|
|
|
Options terminated in closing
purchase transactions
|
|
|
(275,265
|
)
|
|
(241,787
|
)
|
|
Options expired
|
|
|
(752,920
|
)
|
|
(1,240,760
|
)
|
|
|
|
|
|
|
|
|
|
|
Options outstanding, February
28, 2010
|
|
|
312,200
|
|
$
|
88,239
|
|
|
|
|
|
|
|
|
|
|
6. Income Tax Information
The cost basis of portfolio
securities of $161,714,317 is substantially the same for both federal income
tax and financial reporting purposes. Aggregated gross unrealized appreciation
for securities in which there is an excess value over tax cost is $3,548,059;
aggregated gross unrealized depreciation for securities in which there is an
excess tax cost over value is $55,716,359; net unrealized depreciation for
federal income tax purposes is $52,168,300.
|
|
|
|
|
2.28.10
|
Nicholas-Applegate
Global Equity & Convertible Income Fund Semi-Annual Report
|
25
|
|
|
|
|
Nicholas-Applegate
Global Equity & Convertible Income Fund
|
Notes
to Financial
|
|
February 28,
2010 (unaudited)
|
Statements
|
|
|
|
7. Legal Proceedings
In June and September 2004, the
Investment Manager, and certain of its affiliates (including PEA Capital LLC
(“PEA”), Allianz Global Investors Distributors LLC and Allianz Global), agreed
to settle, without admitting or denying the allegations, claims brought by the
Securities and Exchange Commissions and the New Jersey Attorney General
alleging violations of federal and state securities laws with respect to
certain open-end funds for which the Investment Manager serves as investment
adviser. The settlement related to an alleged “market timing” arrangement in
certain open-end funds formerly sub-advised by PEA. The Investment
Manager and its affiliates agreed to
pay a total of $68 million to settle the claims. In addition to monetary
payments, the settling parties agreed to undertake certain corporate
governance, compliance and disclosure reforms related to market timing and
consented to cease and desist orders and censures. Subsequent to these events,
PEA deregistered as an investment adviser and dissolved. None of the
settlements alleged that any inappropriate activity took place with respect to
the Fund.
Since February 2004, the Investment
Manager and certain of its affiliates and their employees have been named as
defendants in a number of pending lawsuits concerning “market timing”, which
allege the same or similar conduct underlying the regulatory settlements
discussed above. The market timing lawsuits have been consolidated in a
multi-district litigation proceeding in the U.S. District Court for the District
of Maryland. Any potential resolution of these matters may include, but not be
limited to, judgments or settlements for damages against the Investment Manager
or its affiliates or related injunctions.
The Investment Manager and the
Sub-Adviser believe that these matters are not likely to have a material
adverse effect on the Fund or on their ability to perform their respective
investment advisory activities relating to the Fund.
8.
Subsequent Events
On March 12, 2010, a quarterly
distribution of $0.30 per share was declared to shareholders, payable March 30,
2010 to shareholders of record on March 22, 2010.
|
|
|
|
26
|
Nicholas-Applegate Global Equity
& Convertible Income Fund Semi-Annual Report
|
2.28.10
|
|
|
|
|
Nicholas-Applegate
Global Equity & Convertible Income Fund
F
inancial Highlights
|
|
For a share outstanding throughout each period:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months
ended
February 28, 2010
(unaudited)
|
|
Year ended
August 31, 2009
|
|
For the period
September 28, 2007* through
August 31, 2008
|
|
Net asset
value, beginning of period
|
|
$
|
14.71
|
|
|
$
|
18.84
|
|
|
$
|
23.88
|
**
|
|
Investment Operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income
|
|
|
0.12
|
|
|
|
0.44
|
|
|
|
0.65
|
|
|
Net
realized and unrealized gain (loss) on investments,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
call options
written and foreign currency transactions
|
|
|
1.42
|
|
|
|
(2.93)
|
|
|
|
(3.72)
|
|
|
Total from
investment operations
|
|
|
1.54
|
|
|
|
(2.49)
|
|
|
|
(3.07)
|
|
|
Dividends and Distributions to Shareholders from:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
investment income
|
|
|
(0.27)
|
|
|
|
(0.55)
|
|
|
|
(0.60)
|
|
|
Net
realized gains
|
|
|
(0.33)
|
|
|
|
(0.55)
|
|
|
|
(1.32)
|
|
|
Return of
capital
|
|
|
—
|
|
|
|
(0.54)
|
|
|
|
—
|
|
|
Total
dividends and distributions to shareholders
|
|
|
(0.60)
|
|
|
|
(1.64)
|
|
|
|
(1.92)
|
|
|
Capital Share Transactions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Offering
costs charged to paid-in capital in excess
|
|
|
|
|
|
|
|
|
|
|
|
|
|
of par
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.05)
|
|
|
Net asset
value, end of period
|
|
$
|
15.65
|
|
|
$
|
14.71
|
|
|
$
|
18.84
|
|
|
Market
price, end of period
|
|
$
|
14.20
|
|
|
$
|
12.99
|
|
|
$
|
18.10
|
|
|
Total
Investment Return (1)
|
|
|
13.71
|
%
|
|
|
(17.63)
|
%
|
|
|
(20.67)
|
%
|
|
RATIOS/SUPPLEMENTAL DATA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets,
end of period (000’s)
|
|
$
|
109,633
|
|
|
$
|
103,052
|
|
|
$
|
131,941
|
|
|
Ratio of
expenses to average net assets
|
|
|
1.31
|
%(2)
|
|
|
1.39
|
%
|
|
|
1.23
|
%(2)
|
|
Ratio of
net investment income to average net assets
|
|
|
1.52
|
%(2)
|
|
|
3.45
|
%
|
|
|
3.31
|
%(2)
|
|
Portfolio
turnover
|
|
|
33
|
%
|
|
|
26
|
%
|
|
|
105
|
%
|
|
|
|
|
*
|
Commencement of operations.
|
|
**
|
Initial public offering price of $25.00 per share less
underwriting discount of $1.125 per share.
|
|
(1)
|
Total investment return is
calculated assuming a purchase of a share of common stock at the current
market price on the first day of each period and a sale of a share of common
stock at the current market price on the last day of each period reported.
Dividends and distributions are assumed, for purposes of this calculation, to
be reinvested at prices obtained under the Fund’s dividend reinvestment plan.
Total investment return does not reflect brokerage commissions or sales
charges. Total investment return of a period of less than one year is not
annualized.
|
|
(2)
|
Annualized.
|
|
|
|
|
Nicholas-Applegate Global Equity & Convertible Income Fund
|
|
|
See accompanying Notes to Financial Statements
|
2.28.10
|
Semi-Annual
Report
|
27
|
|
|
|
|
Nicholas-Applegate
Global Equity & Convertible Income Fund
|
Annual
Shareholder Meeting Results/Changes in Board of Trustees/Proxy Voting
Policies & Procedures
(unaudited)
|
Annual Shareholder Meeting Results:
The Fund held its annual meeting of
shareholders on December 16, 2009. Shareholders voted as indicated below:
|
|
|
|
|
|
|
|
|
Affirmative
|
|
Withheld
Authority
|
|
Re-election of Paul Belica — Class II to serve until 2012
|
|
6,215,021
|
|
139,136
|
|
Re-election of John C. Maney* — Class II to serve until
2012
|
|
6,231,186
|
|
122,971
|
Messrs. Hans W. Kertess, James A.
Jacobson**, William B. Ogden, IV and R. Peter Sullivan, III, continue to serve
as Trustees.
|
|
|
|
|
*
|
John C. Maney is an interested Trustee of the Fund.
|
|
**
|
James A. Jacobson joined the Board of Trustees on December
14, 2009.
|
|
|
|
|
|
Mr. Robert E. Connor served as a Trustee of the Fund until
his death on April 8, 2010.
|
|
|
|
|
|
Changes in Board of Trustees:
|
|
On September 10, 2009, Diana L. Taylor resigned as Trustee
of the Fund.
|
|
On December 14, 2009, James A. Jacobson joined the Board
of Trustees.
|
|
|
|
|
|
Proxy Voting Policies & Procedures:
|
|
A description of the policies and
procedures that the Fund has adopted to determine how to vote proxies
relating to portfolio securities and information about how the Fund voted
proxies relating to portfolio securities held during the period ended June
30, is available (i) without charge, upon request, by calling the Fund’s
shareholder servicing agent at (800) 254-5197; (ii) on the Fund’s website at
www.allianzinvestors.com/closedendfunds; and (iii) on the Securities and
Exchange Commission’s website at www.sec.gov.
|
|
|
|
|
28
|
Nicholas-Applegate Global Equity
& Convertible Income Fund Semi-Annual Report
|
2.28.10
|
|
|
|
|
|
Trustees
|
Fund Officers
|
|
Hans W. Kertess
|
Brian S. Shlissel
|
|
Chairman of the Board of Trustees
|
President & Chief Executive Officer
|
|
Paul Belica
|
Lawrence G. Altadonna
|
|
James A. Jacobson
|
Treasurer, Principal Financial & Accounting Officer
|
|
John C. Maney
|
Thomas J. Fuccillo
|
|
William B. Ogden, IV
|
Vice President, Secretary & Chief Legal Officer
|
|
R. Peter Sullivan III
|
Scott Whisten
|
|
|
Assistant Treasurer
|
|
|
Richard J. Cochran
|
|
|
Assistant Treasurer
|
|
|
Youse E. Guia
|
|
|
Chief Compliance Officer
|
|
|
Kathleen A. Chapman
|
|
|
Assistant Secretary
|
|
|
Lagan Srivastava
|
|
|
Assistant Secretary
|
Investment Manager
Allianz Global Investors Fund
Management LLC
1345 Avenue of the Americas
New York, NY 10105
Sub-Adviser
Nicholas-Applegate Capital
Management LLC
600 West Broadway, 30th Floor
San Diego, CA 92101
Custodian &
Accounting Agent
Brown Brothers Harriman & Co.
40 Water Street
Boston, MA 02109
Transfer Agent,
Dividend Paying Agent and Registrar
PNC Global Investment Servicing
P.O. Box 43027
Providence, RI 02940-3027
Independent
Registered Public Accounting Firm
PricewaterhouseCoopers LLP
300 Madison Avenue
New York, NY 10017
Legal Counsel
Ropes & Gray LLP
One International Place
Boston, MA 02110-2624
This report, including the financial information
herein, is transmitted to the shareholders of Nicholas-Applegate Global Equity
& Convertible Income Fund for their information. It is not a prospectus,
circular or representation intended for use in the purchase of shares of the
Funds or any securities mentioned in this report.
The financial information included herein is taken
from the records of the Fund without the examination by an independent
registered public accounting firm, who did not express an opinion herein.
Notice is hereby given in accordance with Section
23(c) of the Investment Company Act of 1940, as amended, that from time to time
the Fund may purchase shares of their common stock in the open market.
The Fund files its complete schedule of portfolio
holdings with the Securities and Exchange Commission (“SEC”) for the first and
third quarters of its fiscal year on Form N-Q. The Fund’s Form N-Q is available
on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s
Public Reference Room in Washington, DC. Information on the operation of the
Public Reference Room may be obtained by calling (800) SEC-0330. The
information on Form N-Q is also available on the Fund’s website at
www.allianzinvestors.com/closedendfunds.
Information on the Fund is available at
www.allianzinvestors.com/closedendfunds or by calling the Fund’s shareholder
servicing agent at (800) 254-5197.
|
ITEM 2.
|
CODE OF ETHICS
|
|
|
|
|
|
Not required in this filing.
|
|
|
|
|
ITEM 3.
|
AUDIT COMMITTEE FINANCIAL EXPERT
|
|
|
|
|
|
Not required in this filing.
|
|
|
|
|
ITEM 4.
|
PRINCIPAL ACCOUNTANT FEES AND SERVICES
|
|
|
|
|
|
Not required in this filing
|
|
|
|
|
ITEM 5.
|
AUDIT COMMITTEE OF LISTED REGISTRANT
|
|
|
|
|
|
Not required in this filing
|
|
|
|
|
ITEM 6.
|
SCHEDULE OF INVESTMENTS
|
|
|
|
|
|
Schedule of Investments is included as part of the
Report to Shareholders filed under Item 1 of this form.
|
|
|
|
|
ITEM 7.
|
DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES
FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
|
|
|
|
|
|
Not required in this filing
|
|
|
|
|
ITEM 8.
|
PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
|
|
|
|
|
|
Not required in this filing
|
|
|
|
|
ITEM 9.
|
PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT
INVESTMENT COMPANY AND AFFILIATED COMPANIES
|
|
|
|
|
|
None
|
|
ITEM 10.
|
SUBMISSION OF MATTERS
TO A VOTE OF SECURITY HOLDERS
|
|
|
|
|
|
There have been no material
changes to the procedures by which shareholders may recommend nominees
to the Fund’s Board of Trustees since the Fund last provided disclosure
in response to this item.
|
|
|
|
|
ITEM 11.
|
CONTROLS AND PROCEDURES
|
|
|
|
|
|
(a) The registrant’s
President and Chief Executive Officer and Treasurer, Principal Financial & Accounting
Officer have concluded that the registrant’s disclosure controls and
procedures (as defined in Rule 30a-2(c) under the Act (17 CFR 270.30a -3(c))),
as amended are effective based on their evaluation of these controls and
procedures as of a date within 90 days of the filing date of this document.
|
|
|
|
|
|
(b) There were no significant
changes in the registrant’s internal controls (over financial reporting
as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a -3(d))) that
occurred during the second fiscal quarter of the period covered by this
report that has materially affected, or is reasonably likely to materially
affect, the registrants control over financial reporting.
|
|
|
|
|
ITEM 12.
|
EXHIBITS
|
|
|
|
|
|
(a) Exhibit 99.302 Cert.
- Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
(b) Exhibit 99.906 Cert.
- Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
|
(Registrant)
|
Nicholas-Applegate Global Equity &
Convertible
Income Fund
|
|
|
|
|
|
|
|
|
|
By
|
/s/ Brian S. Shlissel
|
|
|
|
President & Chief
Executive Officer
|
|
|
|
|
|
|
Date
|
April 28, 2010
|
|
|
|
|
|
|
By
|
/s/ Lawrence G. Altadonna
|
|
|
|
Treasurer, Principal
Financial & Accounting Officer
|
|
|
|
|
|
|
Date
|
April 28, 2010
|
|
|
|
|
|
|
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.
|
|
|
|
|
|
By
|
/s/
Brian S. Shlissel
|
|
|
|
President & Chief
Executive Officer
|
|
|
|
|
|
|
Date
|
April
28, 2010
|
|
|
|
|
|
|
By
|
/s/
Lawrence G. Altadonna
|
|
|
|
Treasurer,
Principal Financial & Accounting Officer
|
|
|
|
|
|
|
Date
|
April
28, 2010
|
|
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