UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-PX

          ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
                               INVESTMENT COMPANY

                  Investment Company Act file number: 811-21989

               Nicholas-Applegate Equity & Convertible Income Fund
               (Exact name of registrant as specified in charter)

                 1345 Avenue of the Americas, New York, NY 10105
                     (Address of Principal Executive Office)

                  Allianz Global Investors Fund Management LLC
                           1345 Avenue of the Americas
                               New York, NY 10105
                     (Name and Address of Agent for Service)

        Registrant's telephone number, including area code: 212-739-3000

                       Date of fiscal year end: January 31

          Date of reporting period: July 1, 2007 through June 30, 2008



ITEM 1. PROXY VOTING RECORD

******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-21989
Reporting Period: 07/01/2007 - 06/30/2008
Nicholas-Applegate Equity & Convertible Income Fund









============= NICHOLAS-APPLEGATE EQUITY & CONVERTIBLE INCOME FUND ==============

ABBOTT LABORATORIES INC

Ticker:       ABT            Security ID:  2824100
Meeting Date: APR 25, 2008   Meeting Type: Annual
Record Date:  FEB 26, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Roxanne Austin                      For       For        Management
1.2   Elect William Daley                       For       For        Management
1.3   Elect W. James Farrell                    For       For        Management
1.4   Elect H. Laurance Fuller                  For       For        Management
1.5   Elect William Osborn                      For       For        Management
1.6   Elect David Owen                          For       For        Management
1.7   Elect Boone Powell Jr.                    For       For        Management
1.8   Elect W. Ann Reynolds                     For       For        Management
1.9   Elect Roy Roberts                         For       For        Management
1.1   Elect Samuel Scott III                    For       Withhold   Management
1.11  Elect William Smithburg                   For       Withhold   Management
1.12  Elect Glenn Tilton                        For       For        Management
1.13  Elect Miles White                         For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Shareholder Proposal Regarding Access to  Against   Against    Shareholder
      Medicines
4     Shareholder Proposal Regarding  Advisory  Against   For        Shareholder
      Vote on Executive Compensation


--------------------------------------------------------------------------------
AGCO CORPORATION

Ticker:       AG             Security ID:  1084102
Meeting Date: APR 24, 2008   Meeting Type: Annual
Record Date:  MAR 14, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Herman Cain                         For       For        Management
1.2   Elect Wolfgang Deml                       For       Withhold   Management
1.3   Elect David Momot                         For       For        Management
1.4   Elect Martin Richenhagen                  For       For        Management
2     Management Incentive Plan                 For       For        Management
3     Ratification of Auditor                   For       For        Management




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AT&T INC.

Ticker:       T              Security ID:  00206R102
Meeting Date: APR 25, 2008   Meeting Type: Annual
Record Date:  FEB 27, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Randall Stephenson                  For       For        Management
2     Elect William Aldinger III                For       For        Management
3     Elect Gilbert Amelio                      For       For        Management
4     Elect Reuben Anderson                     For       For        Management
5     Elect James Blanchard                     For       For        Management
6     Elect August Busch III                    For       For        Management
7     Elect James Kelly                         For       For        Management
8     Elect Jon Madonna                         For       For        Management
9     Elect Lynn Martin                         For       For        Management
10    Elect John McCoy                          For       For        Management
11    Elect Mary Metz                           For       For        Management
12    Elect Joyce Roche                         For       For        Management
13    Elect Laura D'Andrea Tyson                For       For        Management
14    Elect Patricia Upton                      For       For        Management
15    Ratification of Auditor                   For       For        Management
16    Shareholder Proposal Regarding Report on  Against   Against    Shareholder
      Political Contributions
17    Shareholder Proposal Regarding Pension    Against   For        Shareholder
      Credit Policy
18    Shareholder Proposal Regarding            Against   For        Shareholder
      Independent Lead Director Bylaw
19    Shareholder Proposal Regarding SERP       Against   Against    Shareholder
      Policy
20    Shareholder Proposal Regarding Advisory   Against   For        Shareholder
      Vote on Compensation


--------------------------------------------------------------------------------
BAXTER INTERNATIONAL INC

Ticker:       BAXPR          Security ID:  71813109
Meeting Date: MAY 6, 2008    Meeting Type: Annual
Record Date:  MAR 7, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Wayne Hockmeyer                     For       For        Management
2     Elect Joseph Martin                       For       For        Management
3     Elect Robert Parkinson, Jr.               For       For        Management
4     Elect Thomas Stallkamp                    For       For        Management
5     Elect Albert Stroucken                    For       For        Management
6     Ratification of Auditor                   For       For        Management


--------------------------------------------------------------------------------
BRISTOL MYERS SQUIBB COMPANY

Ticker:       BMY            Security ID:  110122108
Meeting Date: MAY 6, 2008    Meeting Type: Annual
Record Date:  MAR 10, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Lewis Campbell                      For       For        Management
2     Elect James Cornelius                     For       For        Management
3     Elect Louis Freeh                         For       Against    Management





                                                         
4     Elect Laurie Glimcher                     For       For        Management
5     Elect Michael Grobstein                   For       For        Management
6     Elect Leif Johansson                      For       For        Management
7     Elect Alan Lacy                           For       For        Management
8     Elect Vicki Sato                          For       For        Management
9     Elect Togo West                           For       For        Management
10    Elect R. Sanders Williams                 For       For        Management
11    Ratification of Auditor                   For       For        Management
12    Shareholder Proposal Regarding Disclosure Against   Against    Shareholder
      of Executive Compensation


--------------------------------------------------------------------------------
CIGNA CORP.

Ticker:       CI             Security ID:  125509109
Meeting Date: APR 23, 2008   Meeting Type: Annual
Record Date:  FEB 25, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Peter Larson                        For       For        Management
2     Elect Roman Martinez, IV                  For       For        Management
3     Elect Carol Wait                          For       Against    Management
4     Elect William Zollars                     For       Against    Management
5     Ratification of Auditor                   For       For        Management
6     Amendment to Eliminate Series D Preferred For       For        Management
      Stock
7     Amendment to Eliminate Certain            For       For        Management
      Supermajority Requirements
8     Amendment to Eliminate Certain            For       For        Management
      Supermajority Requirements


--------------------------------------------------------------------------------
COCA COLA COMPANY

Ticker:       KO             Security ID:  191216100
Meeting Date: APR 16, 2008   Meeting Type: Annual
Record Date:  FEB 22, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Herbert Allen                       For       Against    Management
2     Elect Ronald Allen                        For       For        Management
3     Elect Cathleen Black                      For       For        Management
4     Elect Barry Diller                        For       Against    Management
5     Elect Alexis Herman                       For       For        Management
6     Elect E. Neville Isdell                   For       For        Management
7     Elect Muhtar Kent                         For       For        Management
8     Elect Donald Keough                       For       For        Management
9     Elect Donald McHenry                      For       For        Management
10    Elect Sam Nunn                            For       For        Management
11    Elect James Robinson, III                 For       For        Management
12    Elect Peter Ueberroth                     For       For        Management
13    Elect Jacob Wallenberg                    For       For        Management
14    Elect James Williams                      For       Against    Management
15    Ratification of Auditor                   For       For        Management
16    2008 Stock Option Plan                    For       For        Management
17    Shareholder Proposal Regarding an         Against   For        Shareholder
      Advisory Vote on Executive Compensation
18    Shareholder Proposal Regarding an         Against   For        Shareholder
      Independent Board Chair





                                                         
19    Shareholder Proposal Regarding a Board    Against   Against    Shareholder
      Committee on Human Rights


--------------------------------------------------------------------------------
DEERE & COMPANY

Ticker:       DE             Security ID:  244199105
Meeting Date: NOV 14, 2007   Meeting Type: Special
Record Date:  SEP 24, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Increase in Authorized Common Stock       For       For        Management


--------------------------------------------------------------------------------
DEERE & COMPANY

Ticker:       DE             Security ID:  244199105
Meeting Date: FEB 27, 2008   Meeting Type: Annual
Record Date:  DEC 31, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect T. Kevin Dunnigan                   For       For        Management
2     Elect Charles Holliday, Jr.               For       For        Management
3     Elect Dipak Jain                          For       For        Management
4     Elect Joachim Milberg                     For       For        Management
5     Elect Richard Myers                       For       For        Management
6     Re-Approval of the Mid-Term Incentive     For       For        Management
      Plan
7     Ratification of Auditor                   For       For        Management


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DIAMOND OFFSHORE DRILLING INC

Ticker:       DO             Security ID:  25271C102
Meeting Date: MAY 20, 2008   Meeting Type: Annual
Record Date:  MAR 25, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect James Tisch                         For       For        Management
1.2   Elect Lawrence Dickerson                  For       Withhold   Management
1.3   Elect John Bolton                         For       For        Management
1.4   Elect Charles Fabrikant                   For       Withhold   Management
1.5   Elect Paul Gaffney, II                    For       For        Management
1.6   Elect Herbert Hofmann                     For       For        Management
1.7   Elect Arthur Rebell                       For       For        Management
1.8   Elect Raymond Troubh                      For       For        Management
2     Ratification of Auditor                   For       For        Management


--------------------------------------------------------------------------------
EMC CORP.

Ticker:       EMC            Security ID:  268648102
Meeting Date: MAY 21, 2008   Meeting Type: Annual
Record Date:  MAR 20, 2008





#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Michael Brown                       For       For        Management
1.2   Elect Michael Cronin                      For       For        Management
1.3   Elect Gail Deegan                         For       For        Management
1.4   Elect John Egan                           For       For        Management
1.5   Elect W. Paul Fitzgerald                  For       Withhold   Management
1.6   Elect Olli-Pekka Kallasvuo                For       Withhold   Management
1.7   Elect Edmund Kelly                        For       For        Management
1.8   Elect Windle Priem                        For       For        Management
1.9   Elect Paul Sagan                          For       For        Management
1.1   Elect David Strohm                        For       For        Management
1.11  Elect Joseph Tucci                        For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Adoption of Majority Vote for Election of For       For        Management
      Directors
4     Elimination of Supermajority Requirement  For       For        Management


--------------------------------------------------------------------------------
FREEPORT-MCMORAN COPPER & GOLD

Ticker:       FCX            Security ID:  35671D857
Meeting Date: JUL 10, 2007   Meeting Type: Annual
Record Date:  MAY 25, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Richard Adkerson                    For       For        Management
1.2   Elect Robert Allison, Jr.                 For       Withhold   Management
1.3   Elect Robert Day                          For       For        Management
1.4   Elect Gerald Ford                         For       For        Management
1.5   Elect H. Devon Graham, Jr.                For       For        Management
1.6   Elect J. Bennet Johnston                  For       Withhold   Management
1.7   Elect Charles Krulak                      For       For        Management
1.8   Elect Bobby Lackey                        For       For        Management
1.9   Elect Jon Madonna                         For       For        Management
1.1   Elect Dustan McCoy                        For       For        Management
1.11  Elect Gabrielle McDonald                  For       Withhold   Management
1.12  Elect James Moffett                       For       For        Management
1.13  Elect B. M. Rankin, Jr.                   For       Withhold   Management
1.14  Elect J. Stapleton Roy                    For       Withhold   Management
1.15  Elect Stephen Siegele                     For       For        Management
1.16  Elect J. Taylor Wharton                   For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Amendment to 2006 Stock Incentive Plan    For       Against    Management
1.1   Elect Richard Adkerson                    For       For        Management
1.2   Elect Robert Allison, Jr.                 For       Withhold   Management
1.3   Elect Robert Day                          For       For        Management
1.4   Elect Gerald Ford                         For       For        Management
1.5   Elect H. Devon Graham, Jr.                For       For        Management
1.6   Elect J. Bennet Johnston                  For       Withhold   Management
1.7   Elect Charles Krulak                      For       For        Management
1.8   Elect Bobby Lackey                        For       For        Management
1.9   Elect Jon Madonna                         For       For        Management
1.1   Elect Dustan McCoy                        For       For        Management
1.11  Elect Gabrielle McDonald                  For       Withhold   Management
1.12  Elect James Moffett                       For       For        Management
1.13  Elect B. M. Rankin, Jr.                   For       Withhold   Management
1.14  Elect J. Stapleton Roy                    For       Withhold   Management
1.15  Elect Stephen Siegele                     For       For        Management
1.16  Elect J. Taylor Wharton                   For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Amendment to 2006 Stock Incentive Plan    For       Against    Management




--------------------------------------------------------------------------------
FREEPORT-MCMORAN COPPER & GOLD

Ticker:       FCXPRA         Security ID:  35671D857
Meeting Date: JUN 5, 2008    Meeting Type: Annual
Record Date:  APR 15, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Richard Adkerson                    For       For        Management
1.2   Elect Robert Allison, Jr.                 For       Withhold   Management
1.3   Elect Robert Day                          For       For        Management
1.4   Elect Gerald Ford                         For       For        Management
1.5   Elect H. Devon Graham, Jr.                For       For        Management
1.6   Elect J. Bennet Johnston                  For       Withhold   Management
1.7   Elect Charles Krulak                      For       For        Management
1.8   Elect Bobby Lackey                        For       For        Management
1.9   Elect Jon Madonna                         For       For        Management
1.1   Elect Dustan McCoy                        For       Withhold   Management
1.11  Elect Gabrielle McDonald                  For       Withhold   Management
1.12  Elect James Moffett                       For       For        Management
1.13  Elect B. M. Rankin, Jr.                   For       Withhold   Management
1.14  Elect J. Stapleton Roy                    For       Withhold   Management
1.15  Elect Stephen Siegele                     For       For        Management
1.16  Elect J. Taylor Wharton                   For       Withhold   Management
2     Ratification of Auditor                   For       For        Management
3     Increase in Authorized Common Stock       For       For        Management


--------------------------------------------------------------------------------
GENERAL ELECTRIC COMPANY

Ticker:       GE             Security ID:  369604103
Meeting Date: APR 23, 2008   Meeting Type: Annual
Record Date:  FEB 25, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect James Cash, Jr.                     For       For        Management
2     Elect Sir William Castell                 For       For        Management
3     Elect Ann Fudge                           For       For        Management
4     Elect Claudio Gonz?lez                    For       Against    Management
5     Elect Susan Hockfield                     For       For        Management
6     Elect Jeffrey Immelt                      For       For        Management
7     Elect Andrea Jung                         For       For        Management
8     Elect Alan Lafley                         For       For        Management
9     Elect Robert Lane                         For       For        Management
10    Elect Ralph Larsen                        For       For        Management
11    Elect Rochelle Lazarus                    For       For        Management
12    Elect James Mulva                         For       For        Management
13    Elect Sam Nunn                            For       For        Management
14    Elect Roger Penske                        For       Against    Management
15    Elect Robert Swieringa                    For       For        Management
16    Elect Douglas Warner III                  For       For        Management
17    Ratification of Auditor                   For       For        Management
18    Shareholder Proposal Regarding Cumulative Against   For        Shareholder
      Voting
19    Shareholder Proposal Regarding            Against   For        Shareholder
      Independent Board Chairman
20    Shareholder Proposal Recoupment of        Against   Against    Shareholder
      Unearned Management Bonuses





                                                         
21    Shareholder Proposal Regarding Curbing    Against   For        Shareholder
      Over-Extended Directors
22    Shareholder Proposal Regarding Reviewing  Against   Against    Shareholder
      Charitable Contributions
23    Shareholder Proposal Regarding Global     Against   Against    Shareholder
      Warming Report
24    Shareholder Proposal Regarding Advisory   Against   For        Shareholder
      Vote on Executive Compensation


--------------------------------------------------------------------------------
GILEAD SCIENCES INC

Ticker:       GILD           Security ID:  375558103
Meeting Date: MAY 8, 2008    Meeting Type: Annual
Record Date:  MAR 19, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Paul Berg                           For       For        Management
1.2   Elect John Cogan                          For       For        Management
1.3   Elect Etienne Davignon                    For       Withhold   Management
1.4   Elect James Denny                         For       For        Management
1.5   Elect Carla Hills                         For       For        Management
1.6   Elect John Madigan                        For       For        Management
1.7   Elect John Martin                         For       For        Management
1.8   Elect Gordon Moore                        For       For        Management
1.9   Elect Nicholas Moore                      For       For        Management
1.1   Elect Gayle Wilson                        For       Withhold   Management
2     Ratification of Auditor                   For       For        Management
3     Amendment to the 2004 Equity Incentive    For       For        Management
      Plan
4     Increase in Authorized Common Stock       For       For        Management


--------------------------------------------------------------------------------
GOOGLE INC

Ticker:       GOOG           Security ID:  38259P508
Meeting Date: MAY 8, 2008    Meeting Type: Annual
Record Date:  MAR 11, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Eric Schmidt                        For       For        Management
1.2   Elect Sergey Brin                         For       For        Management
1.3   Elect Larry Page                          For       For        Management
1.4   Elect L. John Doerr                       For       For        Management
1.5   Elect John Hennessy                       For       Withhold   Management
1.6   Elect Arthur Levinson                     For       For        Management
1.7   Elect Ann Mather                          For       For        Management
1.8   Elect Paul Otellini                       For       For        Management
1.9   Elect K. Ram Shriram                      For       For        Management
1.1   Elect Shirley Tilghman                    For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Amendment to the 2004 Stock Plan          For       Against    Management
4     Shareholder Proposal Regarding Internet   Against   Against    Shareholder
      Censorship
5     Shareholder Proposal Regarding a Human    Against   Against    Shareholder
      Rights Committee




--------------------------------------------------------------------------------
HARRIS CORP.

Ticker:       HRS            Security ID:  413875105
Meeting Date: OCT 26, 2007   Meeting Type: Annual
Record Date:  AUG 31, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Thomas Dattilo                      For       For        Management
2     Elect Howard Lance                        For       For        Management
3     Elect James Stoffel                       For       For        Management
4     Ratification of Auditor                   For       For        Management


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HARRIS CORP.

Ticker:       HRS            Security ID:  413875105
Meeting Date: OCT 26, 2007   Meeting Type: Annual
Record Date:  AUG 31, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Thomas Dattilo                      For       For        Management
2     Elect Howard Lance                        For       For        Management
3     Elect James Stoffel                       For       For        Management
4     Ratification of Auditor                   For       For        Management


--------------------------------------------------------------------------------
INTEL CORP.

Ticker:       INTC           Security ID:  458140100
Meeting Date: MAY 21, 2008   Meeting Type: Annual
Record Date:  MAR 24, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Craig Barrett                       For       For        Management
2     Elect Charlene Barshefsky                 For       Against    Management
3     Elect Carol Bartz                         For       Against    Management
4     Elect Susan Decker                        For       For        Management
5     Elect Reed Hundt                          For       For        Management
6     Elect Paul Otellini                       For       For        Management
7     Elect James Plummer                       For       For        Management
8     Elect David Pottruck                      For       For        Management
9     Elect Jane Shaw                           For       For        Management
10    Elect John Thornton                       For       For        Management
11    Elect David Yoffie                        For       For        Management
12    Ratification of Auditor                   For       For        Management
13    Shareholder Proposal Regarding            Against   Against    Shareholder
      Establishing a Board Committee on
      Sustainability


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INTERNATIONAL BUSINESS MACHINE CORP.

Ticker:       IBM            Security ID:  459200101
Meeting Date: APR 29, 2008   Meeting Type: Annual
Record Date:  FEB 29, 2008





#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Cathleen Black                      For       Withhold   Management
1.2   Elect William  Brody                      For       For        Management
1.3   Elect Kenneth Chenault                    For       For        Management
1.4   Elect Michael Eskew                       For       Withhold   Management
1.5   Elect Shirley Jackson                     For       For        Management
1.6   Elect Lucio Noto                          For       For        Management
1.7   Elect James Owens                         For       For        Management
1.8   Elect Samuel Palmisano                    For       For        Management
1.9   Elect Joan Spero                          For       For        Management
1.1   Elect Sidney Taurel                       For       For        Management
1.11  Elect Lorenzo Zambrano                    For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Shareholder Proposal Regarding Cumulative Against   For        Shareholder
      Voting
4     Shareholder Proposal Regarding Executive  Against   For        Shareholder
      Compensation
5     Shareholder Proposal Regarding Board      Against   Against    Shareholder
      Committee on Human Rights
6     Shareholder Proposal Regarding Special    Against   For        Shareholder
      Meetings
7     Shareholder Proposal on Advisory Vote on  Against   For        Shareholder
      Compensation


--------------------------------------------------------------------------------
INTUITIVE SURGICAL INC

Ticker:       ISRG           Security ID:  46120E602
Meeting Date: APR 18, 2008   Meeting Type: Annual
Record Date:  FEB 22, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Robert Duggan                       For       For        Management
1.2   Elect Floyd Loop, MD                      For       For        Management
1.3   Elect George Stalk                        For       For        Management


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JOHNSON CONTROLS INC

Ticker:       JCI            Security ID:  478366107
Meeting Date: JAN 23, 2008   Meeting Type: Annual
Record Date:  NOV 15, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Natalie Black                       For       For        Management
1.2   Elect Robert Cornog                       For       For        Management
1.3   Elect William Lacy                        For       For        Management
1.4   Elect Stephen Roell                       For       For        Management
2     Ratification of Auditor                   For       For        Management


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JUNIPER NETWORKS INC

Ticker:       JNPR           Security ID:  48203R104
Meeting Date: MAY 21, 2008   Meeting Type: Annual
Record Date:  MAR 24, 2008





#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Mary Cranston                       For       For        Management
1.2   Elect J. Michael Lawrie                   For       For        Management
2     2008 Employee Stock Purchase Plan         For       For        Management
3     Ratification of Auditor                   For       For        Management


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L3 COMMUNICATIONS HOLDINGS INC

Ticker:       LLL            Security ID:  502424104
Meeting Date: APR 29, 2008   Meeting Type: Annual
Record Date:  MAR 3, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect John Shalikashvili                  For       For        Management
1.2   Elect Michael Strianese                   For       For        Management
1.3   Elect John White                          For       For        Management
2     2008 Long Term Performance Plan           For       For        Management
3     2008 Directors Stock Incentive Plan       For       For        Management
4     Ratification of Auditor                   For       For        Management


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MCDONALDS CORP.

Ticker:       MCWCL          Security ID:  580135101
Meeting Date: MAY 22, 2008   Meeting Type: Annual
Record Date:  MAR 24, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Ralph Alvarez                       For       For        Management
2     Elect Susan Arnold                        For       For        Management
3     Elect Richard Lenny                       For       For        Management
4     Elect Cary McMillan                       For       For        Management
5     Elect Sheila Penrose                      For       For        Management
6     Elect James Skinner                       For       For        Management
7     Ratification of Auditor                   For       For        Management


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MCKESSON CORPORATION

Ticker:       MCK            Security ID:  58155Q103
Meeting Date: JUL 25, 2007   Meeting Type: Annual
Record Date:  MAY 29, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect John Hammergren                     For       For        Management
2     Elect M. Christine Jacobs                 For       For        Management
3     Amendment to Declassify the Board         For       For        Management
4     Amendment to the 2005 Stock Plan          For       For        Management
5     Amendment to the 2000 Employee Stock      For       For        Management
      Purchase Plan
6     Ratification of Auditor                   For       For        Management




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MEDCO HEALTH SOLUTIONS INC

Ticker:       MHS            Security ID:  58405U102
Meeting Date: MAY 22, 2008   Meeting Type: Annual
Record Date:  MAR 26, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect John Cassis                         For       For        Management
2     Elect Michael Goldstein                   For       For        Management
3     Elect Blenda Wilson                       For       For        Management
4     Ratification of Auditor                   For       For        Management
5     Increase Authorized Shares                For       Against    Management
6     Shareholder Proposal Regarding            Against   Against    Shareholder
      Restricting Executive Compensation


--------------------------------------------------------------------------------
MERCK & COMPANY INC

Ticker:       MRK            Security ID:  589331107
Meeting Date: APR 22, 2008   Meeting Type: Annual
Record Date:  FEB 25, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Richard Clark                       For       For        Management
2     Elect Johnnetta Cole                      For       Against    Management
3     Elect Thomas Glocer                       For       For        Management
4     Elect Steven Goldstone                    For       For        Management
5     Elect William Harrison, Jr.               For       For        Management
6     Elect Harry Jacobson                      For       For        Management
7     Elect William Kelley                      For       Against    Management
8     Elect Rochelle Lazarus                    For       Against    Management
9     Elect Thomas Shenk                        For       Against    Management
10    Elect Anne Tatlock                        For       Against    Management
11    Elect Samuel Thier                        For       Against    Management
12    Elect Wendell Weeks                       For       Against    Management
13    Elect Peter Wendell                       For       Against    Management
14    Ratification of Auditor                   For       For        Management
15    Shareholder Proposal Regarding Executive  Against   Against    Shareholder
      Compensation
16    Shareholder Proposal Regarding an         Against   For        Shareholder
      Advisory Vote on Executive Compensation
17    Shareholder Proposal Regarding Special    Against   For        Shareholder
      Shareholder Meetings
18    Shareholder Proposal Regarding            Against   For        Shareholder
      Independent Lead Director


--------------------------------------------------------------------------------
MICROSOFT CORP.

Ticker:       MSFT           Security ID:  594918104
Meeting Date: NOV 13, 2007   Meeting Type: Annual
Record Date:  SEP 7, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect William Gates, III                  For       For        Management
2     Elect Steven Ballmer                      For       For        Management
3     Elect James Cash, Jr.                     For       For        Management
4     Elect Dina Dublon                         For       For        Management
5     Elect Raymond Gilmartin                   For       For        Management
6     Elect Reed Hastings                       For       For        Management





                                                         
7     Elect David Marquardt                     For       For        Management
8     Elect Charles Noski                       For       For        Management
9     Elect Helmut Panke                        For       For        Management
10    Elect Jon Shirley                         For       For        Management
11    Ratification of Auditor                   For       For        Management
12    Shareholder Proposal Regarding Internet   Against   Against    Shareholder
      Censorship
13    Shareholder Proposal Regarding a Board    Against   Against    Shareholder
      Committee on Human Rights


--------------------------------------------------------------------------------
MOLSON COORS BREWING COMPANY

Ticker:       TAPA           Security ID:  60871R209
Meeting Date: MAY 15, 2008   Meeting Type: Annual
Record Date:  MAR 18, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect John Cleghorn                       For       For        Management
1.2   Elect Charles Herington                   For       For        Management
1.3   Elect David O'Brien                       For       For        Management


--------------------------------------------------------------------------------
MONSANTO COMPANY

Ticker:       MON            Security ID:  61166W101
Meeting Date: JAN 16, 2008   Meeting Type: Annual
Record Date:  NOV 19, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect John Bachmann                       For       For        Management
2     Elect William Parfet                      For       For        Management
3     Elect George Poste                        For       For        Management
4     Ratification of Auditor                   For       For        Management
5     Shareholder Proposal Regarding Separating Against   For        Shareholder
      the Roles of CEO and Chairman
6     Shareholder Proposal Regarding  Limiting  Against   Against    Shareholder
      Director Indemnification


--------------------------------------------------------------------------------
NATIONAL OILWELL VARCO INC

Ticker:       NOV            Security ID:  637071101
Meeting Date: MAY 14, 2008   Meeting Type: Annual
Record Date:  MAR 27, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Robert Beauchamp                    For       For        Management
2     Elect Jeffrey Smisek                      For       For        Management
3     Ratification of Auditor                   For       For        Management
4     Annual Incentive Plan                     For       For        Management




--------------------------------------------------------------------------------
ORACLE CORP.

Ticker:       ORCL           Security ID:  68389X105
Meeting Date: NOV 2, 2007    Meeting Type: Annual
Record Date:  SEP 7, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.4   Elect Michael Boskin                      For       For        Management
1.5   Elect Jack Kemp                           For       For        Management
1.6   Elect Jeffrey Berg                        For       For        Management
1.7   Elect Safra Catz                          For       Withhold   Management
1.8   Elect Hector Garcia-Molina                For       For        Management
1.9   Elect H. Raymond Bingham                  For       For        Management
1.1   Elect Charles Phillips, Jr.               For       For        Management
1.11  Elect Naomi Seligman                      For       For        Management
2     Fiscal Year 2008 Executive Bonus Plan     For       For        Management
3     Ratification of Auditor                   For       For        Management
4     Shareholder Proposal Regarding a Board    Against   Against    Shareholder
      Committee on Human Rights
5     Shareholder Proposal Regarding an Open    Against   Against    Shareholder
      Source Report
1.1   Elect Jeffrey Henley                      For       For        Management
1.2   Elect Lawrence Ellison                    For       For        Management
1.3   Elect Donald Lucas                        For       Withhold   Management
1.4   Elect Michael Boskin                      For       For        Management
1.5   Elect Jack Kemp                           For       For        Management
1.6   Elect Jeffrey Berg                        For       For        Management
1.7   Elect Safra Catz                          For       Withhold   Management
1.8   Elect Hector Garcia-Molina                For       For        Management
1.9   Elect H. Raymond Bingham                  For       For        Management
1.1   Elect Charles Phillips, Jr.               For       For        Management
1.11  Elect Naomi Seligman                      For       For        Management
2     Fiscal Year 2008 Executive Bonus Plan     For       For        Management
3     Ratification of Auditor                   For       For        Management
4     Shareholder Proposal Regarding a Board    Against   Against    Shareholder
      Committee on Human Rights
5     Shareholder Proposal Regarding an Open    Against   Against    Shareholder
      Source Report
1.1   Elect Jeffrey Henley                      For       For        Management
1.2   Elect Lawrence Ellison                    For       For        Management
1.3   Elect Donald Lucas                        For       Withhold   Management


--------------------------------------------------------------------------------
PEPSICO INC

Ticker:       PEP            Security ID:  713448108
Meeting Date: MAY 7, 2008    Meeting Type: Annual
Record Date:  MAR 7, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Ian Cook                            For       For        Management
2     Elect Dina Dublon                         For       For        Management
3     Elect Victor Dzau                         For       For        Management
4     Elect Ray Hunt                            For       For        Management
5     Elect Alberto Ibarguen                    For       For        Management
6     Elect Arthur Martinez                     For       For        Management
7     Elect Indra Nooyi                         For       For        Management
8     Elect Sharon Rockefeller                  For       For        Management
9     Elect James Schiro                        For       For        Management
10    Elect Lloyd Trotter                       For       For        Management
11    Elect Daniel Vasella                      For       For        Management
12    Elect Michael White                       For       For        Management
13    Ratification of Auditor                   For       For        Management





                                                         
14    Shareholder Proposal Regarding Report on  Against   Against    Shareholder
      Beverage Container Recycling Program
15    Shareholder Proposal Regarding            Against   Against    Shareholder
      Genetically Engineered Products
16    Shareholder Proposal Regarding Right to   Against   Against    Shareholder
      Water Policy
17    Shareholder Proposal Regarding Report on  Against   Against    Shareholder
      Global Warming
18    Shareholder Proposal Regarding Advisory   Against   For        Shareholder
      Vote on Compensation


--------------------------------------------------------------------------------
PRUDENTIAL FINANCIAL INC

Ticker:       PFA            Security ID:  744320102
Meeting Date: MAY 13, 2008   Meeting Type: Annual
Record Date:  MAR 14, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Frederic Becker                     For       For        Management
1.2   Elect Gordon Bethune                      For       For        Management
1.3   Elect Gaston Caperton                     For       For        Management
1.4   Elect Gilbert Casellas                    For       For        Management
1.5   Elect James Cullen                        For       For        Management
1.6   Elect William Gray, III                   For       For        Management
1.7   Elect Mark Grier                          For       For        Management
1.8   Elect Jon Hanson                          For       For        Management
1.9   Elect Constance Horner                    For       For        Management
1.1   Elect Karl Krapek                         For       For        Management
1.11  Elect Christine Poon                      For       For        Management
1.12  Elect John Strangfield                    For       For        Management
1.13  Elect James Unruh                         For       For        Management
2     Ratification of Auditor                   For       For        Management


--------------------------------------------------------------------------------
QUALCOMM INC

Ticker:       QCOM           Security ID:  747525103
Meeting Date: MAR 11, 2008   Meeting Type: Annual
Record Date:  JAN 14, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Barbara Alexander                   For       For        Management
1.2   Elect Donald Cruickshank                  For       For        Management
1.3   Elect Raymond Dittamore                   For       For        Management
1.4   Elect Irwin Jacobs                        For       For        Management
1.5   Elect Paul Jacobs                         For       For        Management
1.6   Elect Robert Kahn                         For       For        Management
1.7   Elect Sherry Lansing                      For       For        Management
1.8   Elect Duane Nelles                        For       Withhold   Management
1.9   Elect Marc Stern                          For       For        Management
1.1   Elect Brent Scowcroft                     For       For        Management
2     Amendment to the 2006 Long-Term Incentive For       For        Management
      Plan
3     Ratification of Auditor                   For       For        Management




--------------------------------------------------------------------------------
SCHLUMBERGER LIMITED

Ticker:       SLB            Security ID:  806857108
Meeting Date: APR 9, 2008    Meeting Type: Annual
Record Date:  FEB 20, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect Philippe Camus                      For       For        Management
1.2   Elect Jamie Gorelick                      For       For        Management
1.3   Elect Andrew Gould                        For       For        Management
1.4   Elect Tony Isaac                          For       For        Management
1.5   Elect Nikolay Kudryavtsev                 For       For        Management
1.6   Elect Adrian Lajous                       For       For        Management
1.7   Elect Michael Marks                       For       For        Management
1.8   Elect Didier Primat                       For       For        Management
1.9   Elect Leo Reif                            For       For        Management
1.1   Elect Tore Sandvold                       For       For        Management
1.11  Elect Nicolas Seydoux                     For       For        Management
1.12  Elect Linda Stuntz                        For       For        Management
2     Approval of Financial Statements and      For       For        Management
      Dividends
3     2008 Stock Incentive Plan                 For       For        Management
4     Ratification of Auditor                   For       For        Management


--------------------------------------------------------------------------------
TARGET CORP.

Ticker:       TGT            Security ID:  87612E110
Meeting Date: MAY 22, 2008   Meeting Type: Annual
Record Date:  MAR 24, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Roxanne Austin                      For       For        Management
2     Elect James Johnson                       For       For        Management
3     Elect Mary Minnick                        For       For        Management
4     Elect Derica Rice                         For       For        Management
5     Ratification of Auditor                   For       For        Management


--------------------------------------------------------------------------------
TEREX CORP.

Ticker:       TEX            Security ID:  880779103
Meeting Date: JUL 17, 2007   Meeting Type: Special
Record Date:  MAY 31, 2007



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Increase in Authorized Common Stock       For       For        Management



--------------------------------------------------------------------------------
TEXAS INSTRUMENTS INC

Ticker:       TXN            Security ID:  882508104
Meeting Date: APR 17, 2008   Meeting Type: Annual
Record Date:  FEB 19, 2008





#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect James Adams                         For       For        Management
2     Elect David Boren                         For       Against    Management
3     Elect Daniel Carp                         For       For        Management
4     Elect Carrie Cox                          For       For        Management
5     Elect David Goode                         For       For        Management
6     Elect Pamela Patsley                      For       For        Management
7     Elect Wayne Sanders                       For       For        Management
8     Elect Ruth Simmons                        For       For        Management
9     Elect Richard Templeton                   For       For        Management
10    Elect Christine Whitman                   For       For        Management
11    Ratification of Auditor                   For       For        Management
12    Shareholder Proposal Regarding            Against   Against    Shareholder
      Qualifications for Board Nominees


--------------------------------------------------------------------------------
TEXTRON INC

Ticker:       TXT            Security ID:  883203101
Meeting Date: APR 23, 2008   Meeting Type: Annual
Record Date:  FEB 29, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Paul Gagn?                          For       For        Management
2     Elect Dain Hancock                        For       For        Management
3     Elect Lloyd Trotter                       For       For        Management
4     Elect Thomas Wheeler                      For       For        Management
5     Ratification of Auditor                   For       For        Management
6     Shareholder Proposal Regarding a Report   Against   Against    Shareholder
      on Foreign Military Sales
7     Shareholder Proposal Regarding Tax        Against   Against    Shareholder
      Gross-up Payments to Senior Executives


--------------------------------------------------------------------------------
VALERO ENERGY CORP.

Ticker:       VLO            Security ID:  91913Y100
Meeting Date: MAY 1, 2008    Meeting Type: Annual
Record Date:  MAR 3, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1.1   Elect W. E. Bradford                      For       For        Management
1.2   Elect Ronald Calgaard                     For       For        Management
1.3   Elect Irl Engelhardt                      For       For        Management
2     Ratification of Auditor                   For       For        Management
3     Shareholder Proposal Regarding            Against   Against    Shareholder
      Prohibition of Executive Stock Sales
      During Stock Repurchase Periods
4     Shareholder Proposal Regarding an         Against   For        Shareholder
      Advisory Vote on Executive Compensation
5     Shareholder Proposal Regarding Reviewing  Against   Against    Shareholder
      Political Contributions




--------------------------------------------------------------------------------
VERIZON COMMUNICATIONS INC

Ticker:       VZ             Security ID:  92343V104
Meeting Date: MAY 1, 2008    Meeting Type: Annual
Record Date:  MAR 3, 2008



#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
----- ----------------------------------------- --------- ---------- -----------
                                                         
1     Elect Richard Carri?n                     For       For        Management
2     Elect M. Frances Keeth                    For       For        Management
3     Elect Robert Lane                         For       For        Management
4     Elect Sandra Moose                        For       For        Management
5     Elect Joseph Neubauer                     For       Against    Management
6     Elect Donald Nicolaisen                   For       For        Management
7     Elect Thomas O'Brien                      For       For        Management
8     Elect Clarence Otis, Jr.                  For       For        Management
9     Elect Hugh Price                          For       For        Management
10    Elect Ivan Seidenberg                     For       For        Management
11    Elect John Snow                           For       For        Management
12    Elect John Stafford                       For       For        Management
13    Ratification of Auditor                   For       For        Management
14    Shareholder Proposal Regarding            Against   Against    Shareholder
      Elimination of Stock Options
15    Shareholder Proposal Regarding Gender     Against   Against    Shareholder
      Identity Non-Discrimination Policy
16    Shareholder Proposal Regarding Separation Against   For        Shareholder
      of Chair and CEO


========== END NPX REPORT


SIGNATURES

     Pursuant to the requirements of 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 Equity & Convertible
                                        Income Fund


By (Signature and Title)*:              /s/  Thomas J. Fuccillo
                                        ----------------------------------------
                                        Name: Thomas J. Fuccillo
                                        Title: Secretary

Date: August 29, 2008

*    Print the name and title of each signing officer under his or her
     signature.