AllianzGI Artificial Intelligence &
Technology Opportunities Fund (NYSE: AIO), AllianzGI Convertible
& Income 2024 Target Term Fund (NYSE: CBH), AllianzGI
Convertible & Income Fund (NYSE: NCV), AllianzGI Convertible
& Income Fund II (NYSE: NCZ), AllianzGI Diversified Income
& Convertible Fund (NYSE: ACV), AllianzGI Dividend, Interest
& Premium Strategy Fund (NYSE: NFJ), AllianzGI Equity &
Convertible Income Fund (NYSE: NIE) (each a “Fund” and, together,
the “Funds”)
Allianz Global Investors U.S. LLC (“AllianzGI U.S.”), investment
manager to each of the Funds listed above, announced today that (i)
the shareholders of 5 of its Closed-End Funds (each, an “Approving
Fund”) voted to approve a new investment advisory agreement with
Virtus Investment Partners, Inc. (“Virtus”) at its Special Meeting
of Shareholders (the “Meeting”) as well as the relevant subadvisory
agreements, and (ii) the Meeting has been adjourned with respect to
the remaining funds (each, an “Adjourning Fund”) to a later date
and time as described in this press release in order to permit the
solicitation of additional shareholder votes.
The Approving Funds are AllianzGI Convertible & Income 2024
Target Term Fund, AllianzGI Convertible & Income Fund II,
AllianzGI Diversified Income & Convertible Fund, AllianzGI
Dividend, Interest & Premium Strategy Fund, and AllianzGI
Equity & Convertible Income Fund and shareholders of each
Approving Fund approved a new investment advisory agreement with
Virtus. For each Approving Fund, shareholders also approved a new
subadvisory agreement by and among such Fund, Virtus and AllianzGI
U.S. For AllianzGI Dividend, Interest & Premium Strategy Fund,
shareholders also approved a new subadvisory agreement by and among
the Fund, Virtus and NFJ Investment Group, LLC.
Each new investment advisory agreement and subadvisory agreement
will become effective upon the transition of operational control of
the Funds as part of the strategic partnership with Virtus. The
transition to Virtus is not expected to directly result in any
change to the personnel responsible for managing the Approving
Funds’ assets or the composition of the Approving Funds’
portfolios, or in any increase in the fees or expenses borne by the
Fund Shareholders.
The Adjourning Funds are AllianzGI Convertible & Income Fund
and AllianzGI Artificial Intelligence & Technology
Opportunities Fund. The meeting with respect to the Adjourning
Funds has been adjourned and will now take place on December 23,
2020 at 12:00 p.m. Eastern Time. Additionally, in light of public
health concerns regarding the COVID-19 pandemic, the rescheduled
Meeting will be held in a virtual meeting format only.
As noted in the proxy materials previously distributed for the
Meeting, the Board of Trustees of each Fund fixed the close of
business on September 10, 2020 as the record date for the
determination of shareholders of the Fund entitled to notice of,
and to vote at, the Meeting or any postponement or adjournment
thereof. To attend the rescheduled Meeting virtually, shareholders
must email the Funds’ Transfer Agent, AST Financial, at
attendameeting@astfinancial.com and provide their full name,
address and control number located on the proxy card previously
received. AST Financial will then email the shareholder meeting
credentials information and instructions for voting during the
Meeting.
If you held Fund shares through an intermediary (such as a
broker-dealer) as of September 10, 2020, in order to participate in
and vote at the Meeting, you must first obtain a legal proxy from
your intermediary reflecting the Fund’s name, the number of Fund
shares you held, and your name and email address. You may forward
an email from your intermediary containing the legal proxy or an
image of the legal proxy to AST at attendameeting@astfinancial.com
and put “Legal Proxy” in the subject line. Requests for
registration must be received by AST no later than 3:00 p.m.
Eastern Time on December 22, 2020. You will then receive
confirmation of your registration and a control number by email
from AST. AST will also email your Meeting credentials for
participation in the Meeting and instructions for voting during the
Meeting.
Shareholders are not required to attend the Meeting to vote on
the proposals. Whether or not shareholders plan to attend the
Meeting, each Fund urges shareholders to authorize a proxy to vote
the shareholder’s shares in advance of the Meeting by one of the
methods described in the proxy materials for the Meeting. In
connection with the Meeting, each Fund has filed a definitive proxy
statement with the Securities and Exchange Commission. Shareholders
are advised to read their Fund’s proxy statement because it
contains important information.
Allianz Global Investors U.S. LLC, an indirect, wholly-owned
subsidiary of PFP Holdings, Inc., serves as the Funds’ investment
manager and is a member of Munich-based Allianz Group.
The Funds’ daily New York Stock Exchange closing market prices
and net asset values per share, as well as other information,
including updated portfolio statistics and performance, are
available at us.allianzgi.com/closedendfunds or by calling the
Funds’ shareholder servicing agent at (800)-254-5197.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with
754 investment professionals in 25 offices worldwide and managing
USD 641 billion in assets for individuals, families and
institutions.
Active is the most important word in our vocabulary. Active is
how we create and share value with clients. We believe in solving,
not selling, and in adding value beyond pure economic gain. We
invest for the long term, employing our innovative investment
expertise and global resources. Our goal is to ensure a superior
experience for our clients, wherever they are based and whatever
their investment needs.
Active is: Allianz Global Investors
Data as of September 30, 2020
Disclaimer
This material may include statements that constitute
"forward-looking statements" under the U.S. securities laws.
Forward-looking statements include, among other things,
projections, estimates and information about possible or future
results related to the Funds, market or regulatory developments.
The views expressed herein are for informational purposes only and
are not guarantees of future performance or economic results and
involve certain risks, uncertainties and assumptions that could
cause actual outcomes and results to differ materially from the
views expressed herein. Such risks and uncertainties include,
without limitation, the adverse effect from a decline in the
securities markets or a decline in the Funds’ performance, a
general downturn in the economy, competition from other companies,
changes in government policy or regulation, inability to attract or
retain key employees, inability to implement its operating strategy
and/or acquisition strategy, and unforeseen costs and other effects
related to legal proceedings or investigations of governmental and
self-regulatory organizations. The views expressed herein are
subject to change at any time based upon economic, market, or other
conditions and the Funds undertake no obligation to update the
views expressed herein. While we have gathered this information
from sources believed to be reliable, the Funds cannot guarantee
the accuracy of the information provided. The views expressed
herein do not constitute recommendations to buy, sell or hold any
security. The views expressed herein (including any forward-looking
statement) may not be relied upon as investment advice or as an
indication of the Funds’ trading intent. Information included
herein is not an indication of the Funds’ future portfolio
composition or the extent to which the Funds may utilize
leverage.
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version on businesswire.com: https://www.businesswire.com/news/home/20201124006048/en/
For information on Allianz & Closed-End Funds:
Financial Advisors: (800) 926-4456 Shareholders: (800) 254-5197
Media Relations: (212) 739-3172
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