HARTFORD, Conn., Jan. 18, 2022 /PRNewswire/ -- Virtus
AllianzGI Diversified Income & Convertible Fund (NYSE:
ACV) previously announced on December 17,
2021 that it will institute a managed distribution plan and
increase its monthly distribution rate to $0.18 per share effective with the following
monthly distribution:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.18
|
January 12,
2022
|
January 13,
2022
|
February 1,
2022
|
Under the terms of its Managed Distribution Plan, the Fund will
seek to maintain a consistent distribution level that may be paid
in part or in full from net investment income and realized capital
gains, or a combination thereof. Shareholders should note, however,
that if the Fund's aggregate net investment income and net realized
capital gains are less than the amount of the distribution level,
the difference will be distributed from the Fund's assets and will
constitute a return of the shareholder's capital. You should not
draw any conclusions about the Fund's investment performance from
the amount of this distribution or from the terms of the Fund's
Managed Distribution Plan.
The Fund provided this estimate of the sources of the
distributions:
Distribution
Estimates
|
January 2022
(MTD)
|
Fiscal
Year-to-Date
(YTD)(1)
|
(Sources)
|
Per
Share Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage of Current
Distribution
|
Net Investment
Income
|
$
-
|
0.0%
|
$
-
|
0.0%
|
Net Realized
Short-Term Capital Gains
|
0.180
|
100.0%
|
5.664
|
72.5%
|
Net Realized
Long-Term Capital Gains
|
-
|
0.0%
|
2.152
|
27.5%
|
Return of Capital (or
other Capital Source)
|
-
|
0.0%
|
-
|
0.0%
|
Total
Distribution
|
$
0.180
|
100.0%
|
$
7.816
|
100.0%
|
(1)
|
Fiscal year started
February 1, 2021. Fiscal YTD includes the special
distribution of $5.7985 paid January 10, 2022.
|
Information regarding the Fund's performance and distribution
rates is set forth below. Please note that all performance figures
are based on the Fund's NAV and not the market price of the Fund's
shares. Performance figures are not meant to represent individual
shareholder performance.
December 31,
2021
|
|
|
Average Annual
Total Return on NAV for the 5-year period
(2)
|
20.91%
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
7.06%
|
|
Fiscal YTD
Cumulative Total Return on NAV (4)
|
8.95%
|
|
Fiscal YTD
Cumulative Distribution Rate (5)
|
6.01%
|
|
(2)
|
Average Annual Total
Return on NAV is the annual compound return for the five-year
period. It reflects the change in the Fund's NAV and
reinvestment of all distributions.
|
(3)
|
Current Fiscal YTD
Annualized Distribution Rate is the current distribution rate
($0.18 per share) annualized as a percentage of the Fund's NAV at
month end.
|
(4)
|
Fiscal YTD Cumulative
Total Return on NAV is the percentage change in the Fund's NAV from
the first day of the fiscal year to this month end, including
distributions paid and assuming reinvestment of those
distributions.
|
(5)
|
Fiscal YTD Cumulative
Distribution Rate is the dollar value of distributions from the
first day of the fiscal year to this month end as a percentage of
the Fund's NAV at month end, excluding the special distribution of
$5.7985 announced in December 2021. The Fiscal YTD Cumulative
Distribution Rate would be 24.97% if the special distribution was
included.
|
The amounts and sources of distributions reported
in this notice are estimates only and are
not being provided for tax
reporting purposes. The actual amounts and sources
of the distributions for tax purposes will depend
on the Fund's investment experience
during the remainder of its fiscal year and may
be subject to changes based on tax regulations. The
Fund or your broker will send you a
Form 1099-DIV for the calendar year that will tell you
what distributions to report for federal income tax
purposes.
About the Fund
Virtus AllianzGI Diversified Income & Convertible
Fund is a diversified closed-end fund that seeks to provide
total return through a combination of current income and capital
appreciation, while seeking to provide downside protection against
capital loss. The Fund normally invests at least 50% of total
managed assets in convertibles. Virtus Investment Advisers, Inc. is
the investment adviser to the Fund and Allianz Global
Investors is its subadviser.
For more information on the Fund, contact shareholder services
at (800) 254-5197, by email at closedendfunds@virtus.com, or
through the Closed-End Funds section of virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund's shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a premium or discount to their net
asset value. For more information about each fund's investment
objective and risks, please see the Fund's annual report. A copy of
the Fund's most recent annual report may be obtained free of charge
by contacting "Shareholder Services" as set forth at the end of
this press release.
About Allianz Global Investors
Allianz Global Investors or AllianzGI is a leading
active asset manager with over 750 investment professionals in 25
offices worldwide and manages assets for individuals, families, and
institutions. The investment team has extensive experience managing
closed-end funds and a differentiated, multi-asset approach based
on fundamental research designed to dynamically allocate across
convertible securities and equities.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive
partnership of boutique investment managers singularly committed to
the long-term success of individual and institutional investors.
The company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. For more information, visit virtus.com.
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SOURCE Virtus AllianzGI Diversified Income & Convertible
Fund