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

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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 (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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