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) and AllianzGI Equity & Convertible Income Fund
(NYSE: NIE) (each a “Fund” and, together, the “Funds”) announced
today name changes effective on February 1, 2021.
These changes are in relation to the previously announced
strategic partnership between AllianzGI U.S. and Virtus Investment
Partners, Inc., that will focus on enhancing both firms’ growth
opportunities with Virtus representing AllianzGI’s compelling
investment strategies in the U.S. retail market to existing and
potentially new clients. Pursuant to the partnership, Virtus is
expected to become the investment adviser and administrator of each
Fund other than AIO, while AllianzGI U.S. will continue to manage
the Funds in a subadvisory capacity, effective on February 1, 2021.
A similar transition is expected to occur with respect to AIO, with
Virtus becoming administrator to the Fund effective on February 1,
2021, and the new advisory arrangements to become effective
following (and subject to) shareholder approval of the
arrangements.
Current Fund Name
Ticker
New Fund Name
AllianzGI Artificial Intelligence &
Technology Opportunities Fund
AIO
Virtus AllianzGI Artificial
Intelligence & Technology Opportunities Fund
AllianzGI Convertible & Income 2024
Target Term Fund
CBH
Virtus AllianzGI Convertible &
Income 2024 Target Term Fund
AllianzGI Convertible & Income
Fund
NCV
Virtus AllianzGI Convertible &
Income Fund
AllianzGI Convertible & Income Fund
II
NCZ
Virtus AllianzGI Convertible &
Income Fund II
AllianzGI Diversified Income &
Convertible Fund
ACV
Virtus AllianzGI Diversified Income
& Convertible Fund
AllianzGI Equity & Convertible
Income Fund
NIE
Virtus AllianzGI Equity &
Convertible Income Fund
AllianzGI Dividend, Interest &
Premium Strategy Fund
NFJ
Virtus Dividend, Interest & Premium
Strategy Fund
There are no changes to the Funds’ investment objectives,
investment strategies or New York Stock Exchange (“NYSE”) ticker
symbols associated with the name changes.
In connection with the transition to Virtus as investment
adviser and administrator to the Funds, the Funds will operate
pursuant to the valuation policies and procedures used by other
Virtus-sponsored registered funds, which differ in certain respects
from the Funds’ current policies and procedures. The transition is
expected to result in a one-time adjustment to the reported net
asset values of the Funds.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210122005489/en/
For information on Allianz & Closed-End Funds: Financial
Advisors: (800) 926-4456 Shareholders: (800) 254-5197 Media
Relations: (212) 739-3172
Virtus Convertible and I... (NYSE:CBH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Virtus Convertible and I... (NYSE:CBH)
Historical Stock Chart
From Apr 2023 to Apr 2024