HARTFORD, Conn., May 16, 2022
/PRNewswire/ -- Virtus AllianzGI Diversified Income &
Convertible Fund (NYSE: ACV) previously announced the
following monthly distribution on March 7,
2022:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.18
|
May 11, 2022
|
May 12, 2022
|
June 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
|
May 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%
|
$ 0.005
|
0.69%
|
Net Realized Short-Term
Capital Gains
|
0.067
|
37.5%
|
0.602
|
83.68%
|
Net Realized Long-Term
Capital Gains
|
0.113
|
62.5%
|
0.113
|
15.63%
|
Return of Capital (or
other Capital Source)
|
-
|
0.0%
|
-
|
0.0%
|
Total
Distribution
|
$ 0.180
|
100.0%
|
$ 0.720
|
100.0%
|
|
(1) Fiscal year
started February 1, 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.
April 29, 2022
|
|
|
Average Annual Total Return on NAV for the 5-year
period (2)
|
14.21%
|
|
Current Fiscal YTD Annualized Distribution Rate
(3)
|
8.97%
|
|
Fiscal YTD Cumulative Total Return on NAV
(4)
|
-9.84%
|
|
Fiscal YTD Cumulative Distribution Rate
(5)
|
2.24%
|
|
|
|
(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
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.
|
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 the 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