Company: NCZ-PA
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-032992
Chunk: 21

Company: Virtus Convertible & Income Fund II
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 21
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 Board in a manner that enhances effective oversight. 21 Each Board also believes that having a super-majority of Independent Trustees is appropriate and in the best interest of the Funds’ shareholders. Nevertheless, each Board also believes that having an interested person serve on the Board brings corporate and financial viewpoints that are, in each Board’s view, crucial elements in its decision-making process. In addition, each Board believes that Mr. Aylward, who is currently the President and Chief Executive Officer of Virtus, and previously served in various executive roles with the Adviser and affiliates of the Adviser that provide services to the Funds, provides each Board with the Adviser’s perspective in managing and sponsoring other Virtus registered funds as well as the perspective of service providers to the Funds. The leadership structure of each Board may be changed at any time at the discretion of the Board, including in response to changes in circumstances or the characteristics of the Funds. Board’s Role in Risk Oversight As a registered investment company, each Fund is subject to a variety of risks, including investment risks, financial risks, valuation risks, operational risks, compliance risks, and legal and regulatory risks. As part of its overall activities, each Fund’s Board oversees the management of the Fund’s risk management structure by the Fund’s Adviser, Subadviser(s), administrator, officers and others. The responsibility to manage the Funds’ risk management structure on a day-to-day basis is subsumed within the other responsibilities of these parties. Each Board then considers risk management issues as part of its general oversight responsibilities throughout the year at regular meetings of the Board and its committees, and within the context of any ad hoc communications with the Funds’ service providers and officers. Each Fund’s Adviser, Subadviser(s), administrator, officers and/or legal counsel prepare regular reports to the Fund’s Board that address certain investment, valuation, compliance and other matters, and the Board as a whole or its committees may also receive special written reports or presentations on a variety of risk issues at the request of the Board, a committee, the Chair or a senior officer. Each Board receives regular written reports describing and analyzing the investment performance of the Funds. In addition, the portfolio managers of the Funds and representatives of the Subadviser(s) meet with the Board periodically to discuss portfolio performance and answer the Board’s questions with respect to portfolio strategies and risks. Each Board receives regular written reports from the Funds’ Chief Financial Officer (“CFO”) that enable the Board to monitor the number of fair valued securities in each