UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 21, 2016
AllianzGI Diversified Income & Convertible Fund
(Exact name of registrant as specified in its charter)
Massachusetts |
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811-23039 |
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47-3545260 |
(State or other jurisdiction |
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(Commission |
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(IRS Employer |
1633 Broadway, New York, NY |
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10019 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (212) 739-3222
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On April 21, 2016, AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) (the Fund), a closed-end fund, issued a press release (Press Release) announcing the conclusion of a Repurchase Plan (the Plan) with respect to the Funds common shares that had been implemented for a defined period following the Funds initial public offering. The Plan was implemented, in part, in an attempt to provide additional liquidity in the marketplace for the common shares and to potentially reduce declines in the market price of the common shares in comparison to their net asset value (NAV).
The above summary is qualified in its entirety by reference to the Press Release, a copy of which is filed as an exhibit to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibit.
Exhibit Number |
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99.1 |
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Press Release dated April 21, 2016. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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AllianzGI Diversified Income & Convertible Fund | ||
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(Registrant) | ||
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Date: |
April 21, 2016 |
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/s/ Lawrence G. Altadonna |
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(Signature) | ||
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Name: Lawrence G. Altadonna | ||
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Title: Treasurer and Principal Financial and | ||
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Accounting Officer | ||
Exhibit 99.1
NEWS RELEASE |
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For information on Allianz Closed-End Funds: |
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Financial Advisors: |
(800) 926-4456 |
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Shareholders: |
(800) 254-5197 |
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Media Relations: |
(212) 739-3501 |
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AllianzGI Diversified Income & Convertible Fund
Announces the Conclusion of its Common Share Repurchase Plan
NEW YORK, April 21, 2016 (BUSINESS WIRE) AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) (the Fund) today announced the conclusion of a Repurchase Plan (the Plan) with respect to the Funds common shares that had been implemented for a defined period following the Funds initial public offering. The Plan was implemented, in part, in an attempt to provide additional liquidity in the marketplace for the common shares and to potentially reduce declines in the market price of the common shares in comparison to their net asset value (NAV).
Generally, under the terms of the Plan, the Fund has repurchased its common shares on the open market on any trading day when its common shares were trading at a discount of 2% or more from their closing NAV on the prior trading day and subject to other conditions, in an amount equal to the lesser of $125,000 or the maximum number of shares that it could purchase under applicable regulations (generally, 25% of the average trading volume of the shares over the trailing four week period). Pursuant to the terms of the Plan, the repurchase period commenced on September 4, 2015 (the 61st day following the date on which the over-allotment period following the Funds initial public offering ended) and concluded on April 21, 2016, 230 days after the commencement of the Plan. The Fund has determined not to continue the Plan or to implement another common share repurchase plan at this time.
The Fund is a closed-end management investment company. The Funds investment objective is to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. There can be no assurance that the Fund will achieve its stated objective. As with any stock, the price of the Funds common shares will fluctuate with market conditions and other factors. If you sell your common shares, the price received may be more or less than your original investment. Shares of closed-end management investment companies, such as the Fund, frequently trade at a discount from their NAV.
Allianz Global Investors Fund Management LLC (AGIFM), an indirect, wholly-owned subsidiary of Allianz Asset Management of America, L.P., serves as the Funds investment manager and is a member of Munich-based Allianz Group. Allianz Global Investors U.S. LLC, an AGIFM affiliate, serves as the Funds sub-adviser.
The Funds daily New York Stock Exchange closing market prices, 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.
Statements made in this release that look forward in time involve risks and uncertainties and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 Funds ability to pay dividends to common shareholders is subject to the restrictions in its registration statement, by-laws and other governing documents, as well as the Investment Company Act of 1940.
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