AllianzGI Diversified Income & Convertible Fund (the "Fund") (NYSE:ACV),
a diversified closed-end management investment company which provides
total return through a combination of current income and capital
appreciation, while seeking to provide downside protection against
capital loss, today announced its results for the period ended January
31, 2016.
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At January 31, 2016
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Net Assets (a)
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$
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201,644,092
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Common Shares Outstanding
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10,661,039
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Net Asset Value ("NAV")
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$
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18.91
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Market Price
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$
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16.40
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Discount to NAV
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(13.27
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)%
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Overdistributed Ordinary
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Income Per Common Share (c)
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$
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(0.0158
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)
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For the Period May 27, 2015 (b)
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through January 31, 2016
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Net Investment Income (d)
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$
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2,045,765
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Per Share (d)(e)
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$
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0.18
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Net Realized and Unrealized Loss (d)
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$
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(45,171,088
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)
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Per Share (d)
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$
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(4.09
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)
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(a)
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Net assets are inclusive of Mandatory Redeemable Preferred Shares of
$30 million.
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(b)
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Commencement of operations.
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(c)
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Since the Fund's net earning rates fluctuate from month to month,
there will be periods when the Fund may over-earn or under-earn its
monthly dividend rate. This fluctuation will have the effect of
adding to or subtracting from the Fund's overdistributed ordinary
income balance. Fund management analyzes the current and projected
net earning rates prior to recommending dividend amounts to the
Fund's Board of Trustees for declaration. There can be no assurance
that the monthly dividend rate will remain at its current level or
that the undistributed ordinary income balance, if any, will be
sufficient to cover any shortfall in earnings to meet the current
dividend rate. The overdistributed ordinary income balance is
exclusive of market premium amortization on corporate bonds in
accordance with federal income tax treatment. The overdistributed
ordinary income balance includes realized gain (loss) on the sale of
contingent debt and Section 305 adjustments, in accordance with
federal income tax treatment.
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(d)
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Net Investment Income for the period ended January 31, 2016 includes
market premium amortization on corporate bonds of $507,978 ($0.05
per common share).
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(e)
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Calculated on average common shares outstanding.
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Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect,
wholly-owned subsidiary of Allianz Asset Management of America L.P.,
serves as the Fund's investment manager and is a member of Munich-based
Allianz Group. Allianz Global Investors U.S. LLC, an affiliate of AGIFM,
serves as the Fund's sub-adviser.
The Fund's daily New York Stock Exchange closing market price, NAV, as
well as other information, is available at
us.allianzgi.com/closedendfunds or by calling the Fund's shareholder
servicing agent at (800) 254-5197.
The financial information contained herein is solely based upon the data
available at the time of publication of this press release, and there is
no assurance that any future results will be the same or similar to the
results reported herein. Information that was obtained from third party
sources we believe to be reliable is not guaranteed as to its accuracy
or completeness. This press release contains no recommendations to buy
or sell any specific securities and should not be considered investment
advice of any kind. Past performance is no guarantee of future results
and the investment returns generated by the Fund will fluctuate. There
can be no assurance the Fund will meet its stated objective. In making
any investment decision, individuals should utilize other information
sources and the advice of their own professional adviser.
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