AllianzGI Diversified Income & Convertible Fund Reports Results for the Period Ended January 31, 2016
March 31 2016 - 4:00PM
Business Wire
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.
At January 31, 2016 Net Assets (a) $
201,644,092 Common Shares Outstanding 10,661,039 Net Asset Value
("NAV") $ 18.91 Market Price $ 16.40 Discount to NAV (13.27 )%
Overdistributed Ordinary Income Per Common Share (c) $ (0.0158 )
For the Period May 27, 2015 (b)
through January 31,
2016 Net Investment Income (d) $ 2,045,765 Per Share (d)(e)
$ 0.18 Net Realized and Unrealized Loss (d) $ (45,171,088 ) Per
Share (d) $ (4.09 ) (a) Net assets are inclusive of
Mandatory Redeemable Preferred Shares of $30 million. (b)
Commencement of operations. (c) 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. (d) 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). (e) Calculated
on average common shares outstanding.
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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version on businesswire.com: http://www.businesswire.com/news/home/20160331005158/en/
For Information on Allianz Closed-End Funds:Financial
Advisors: 800-926-4456Shareholders: 800-254-5197Media Relations:
212-739-3501
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