AllianzGI Diversified Income & Convertible Fund Reports Results for the Fiscal Quarter and Year Ended January 31, 2019

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 fiscal quarter and year ended January 31, 2019.

At January 31,

2019

2018

        
      
      
        
          Net Assets (a)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $227,320,060
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $245,382,023
        
      
      
        
          Common Shares Outstanding
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          10,311,385
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          10,274,970
        
      
      
        
          Net Asset Value ("NAV")
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $22.05
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $23.88
        
      
      
        
          Market Price
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $21.29
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $22.40
        
      
      
        
          Discount to NAV
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          (3.45)%
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          (6.20)%
        
      
      
        
          Undistributed Ordinary
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Income Per Common Share (b)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.4238
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $1.0554
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          

Quarter ended January 31,

2019

2018

        
      
      
        
          Net Investment Income (c)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $212,271
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $503,137
        
      
      
        
          Per Share (c)(d)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.02
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.05
        
      
      
        
          Net Realized and Change in Unrealized Gain (c)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $4,718,343
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $17,009,905
        
      
      
        
          Per Share (c)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.46
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $1.65
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          

Year ended January 31,

2019

2018

        
      
      
        
          Net Investment Income (c)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $1,686,486
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $2,983,622
        
      
      
        
          Per Share (c)(d)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.16
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.29
        
      
      
        
          Net Realized and Change in Unrealized Gain (c)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $18,335
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $41,140,393
        
      
      
        
          Per Share (c)
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $0.01
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
          $4.00
        
      
    
    
      
        
           
        
      
      
        
          (a) Net assets are inclusive of Mandatory Redeemable Preferred 
          Shares of $30 million.
        
      
      
        
           
        
      
      
        
          (b) 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 undistributed 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 undistributed ordinary income balance is exclusive of 
          market premium
        
      
      
        
          amortization on corporate bonds in accordance with federal income 
          tax treatment. The undistributed ordinary income balance includes
        
      
      
        
          realized gain (loss) on the sale of contingent debt and Section 305 
          sales adjustments for accrual of deemed dividends from investments 
          in convertible debt,
        
      
      
        
          in accordance with federal income tax treatment.
        
      
      
        
           
        
      
      
        
          (c) Net Investment Income for the fiscal quarter and year ended 
          January 31, 2019 includes market premium amortization on corporate 
          bonds of $92,863
        
      
      
        
          ($0.01 per common share) and $389,947 ($0.04 per common share), 
          respectively. Net Investment Income for the fiscal quarter and year 
          ended January 31, 2018
        
      
      
        
          includes market premium amortization on corporate bonds of $105,741 
          ($0.01 per common share) and $443,727 ($0.04 per common share), 
          respectively. For tax
        
      
      
        
          purposes, the Fund has elected not to amortize market premium on 
          corporate bonds.
        
      
      
        
           
        
      
      
        
          (d) Calculated on average common shares outstanding.
        
      
      
        
           
        
      
      
        
          Allianz Global Investors U.S. LLC, 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.
        
      
      
        
           
        
      
      
        
          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 [phone].
        
      
      
        
           
        
      
      
        
          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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