<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>letter.txt
<DESCRIPTION>INTERNAL CONTROL LETTER
<TEXT>
Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of
NicholasApplegate Convertible & Income Fund

In planning and performing our audits of the financial
statements of NicholasApplegate Convertible Income
 Fund the Fund for the year ended February 28 2005
 we considered its internal control including control
activities for safeguarding securities in order to determine
 our auditing procedures for the purpose of expressing
 our opinion on the financial statements and to comply
 with the requirements of Form NSAR not to provide
assurance on internal control. The management of
 the Fund is responsible for establishing and
 maintaining internal control. In fulfilling this
 responsibility estimates and judgments by
management are required to assess the expected
 benefits and related costs of controls.  Generally
 controls that are relevant to an audit pertain to
 the entitys objective of preparing financial
statements for external purposes that are fairly
 presented in conformity with generally accepted
 accounting principles.  Those controls include
 the safeguarding of assets against unauthorized
acquisition use or disposition.Because of inherent
 limitations in internal control errors or fraud may
 occur and not be detected.  Also projection of any
evaluation of internal control to future periods is
 subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness
of their design and operation may deteriorate.
Our consideration of internal control would
not necessarily disclose all matters in internal
 control that might be material weaknesses under
standards established by the Public Company
Accounting Oversight Board United States.
A material weakness for purposes of this report,
 is a condition in which the design or operation of
 one or more of the internal control components does
 not reduce to a relatively low level the risk that
 misstatements caused by error or fraud in amounts
 that would be material in relation to the financial
 statements being audited may occur and not be
detected within a timely period by employees in
 the normal course of performing their assigned
functions.  However we noted no matters involving
 internal control and their operation, including
controls for safeguarding securities that we
consider to be material weaknesses as defined
above as of February 28 2005.
This report is intended solely for the information
 and use of the Board of Trustees management
 and the Securities and Exchange Commission
and is not intended to be and should not be used
by anyone other than these specified parties.
PricewaterhouseCoopers LLP
April 25 2005

</TEXT>
</DOCUMENT>
