Company: NCZ-PA
Filing Date: 2025-04-11
Form Type: N-CSR
Source: 0001193125-25-079060
Chunk: 74

Company: Virtus Convertible & Income Fund II
Filing Date: 2025-04-11
Form: N-CSR
Chunk 74
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 Subadviser, including completed questionnaires concerning a number of topics, including, among other items, such company’s investment philosophy, investment
process and strategies, resources and personnel, operations, compliance structure and procedures, and overall performance. In considering the Advisory Agreement with VIA, the Board considered that VIA is responsible for management of the
Funds’ investment programs and for evaluating and selecting subadvisers on an ongoing basis and making any recommendations to the Board regarding hiring, retaining, or replacing subadvisers, subject to shareholder approval. In considering the
Advisory Agreement with VIA, the Board considered VIA’s process for supervising and managing the Funds’ Subadvisers, including (a) VIA’s ability to select and monitor the Subadvisers; (b) each Adviser’s ability to provide the
services necessary to monitor each Subadviser’s compliance with the applicable Fund’s respective investment objective(s), policies and restrictions, as well as to provide other oversight activities,

<div align='center'>110</div>

### CONSIDERATION OF ADVISORY AND
SUBADVISORY AGREEMENTS

#### BY THE BOARD OF TRUSTEES (Unaudited)
(Continued)

including with respect to Fund performance, monitoring of
each Fund’s discounts, distributions, and leverage levels and rates; and (c) VIA’s ability and willingness to identify instances in which a Subadviser should be replaced and to carry out the required changes. The Trustees also
considered: (a) the experience and capability of VIA’s management and other personnel; (b) the financial condition of VIA, and whether it had the financial wherewithal to provide a high level and quality of services to the Funds; (c) the
quality of VIA’s own regulatory and legal compliance policies, procedures and systems; (d) the nature, extent and quality of administrative and other services provided by VIA and its affiliates to the Funds; (e) VIA’s supervision of the
Funds’ other service providers; and (f) VIA’s risk management processes. It was noted that an affiliate of VIA serves as administrator to the Funds. The Board also took into account its knowledge of VIA’s management and the quality
of the performance of VIA’s duties to the Funds and other funds managed by VIA through Board meetings, discussions and reports during the preceding year, as well as information from the Funds’ Chief Compliance Officer regarding the
Funds’ compliance policies and procedures established pursuant to Rule 38