Virtus AllianzGI Diversified Income & Convertible Fund: insider trades · United States · SEC (Form 4)

About Virtus AllianzGI Diversified Income & Convertible Fund

Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) is a US-listed closed-end fund traded on the NYSE and domiciled in the United States. For international investors, it should be understood as an asset-management vehicle focused on income generation and convertible securities rather than as a conventional operating company. The fund was organized as a Massachusetts business trust on March 10, 2015, and began operations on May 27, 2015. As a closed-end fund, its shares may trade at a premium or discount to net asset value, which is a central feature of the investment case and risk profile. The fund’s investment objective is to deliver total return through a combination of current income and capital appreciation while seeking to provide some downside protection against capital loss. According to fund disclosures, it normally invests at least 50% of managed assets in convertible securities, while maintaining flexibility to allocate across equities and other income-producing instruments. This multi-asset, convertible-heavy framework is the key differentiator: it allows ACV to participate in equity upside through convertibles while attempting to reduce the pure directional sensitivity of a long-only equity portfolio. From a competitive standpoint, ACV sits in a specialist but well-established segment of the US listed closed-end fund market. Its institutional credibility comes from Virtus Investment Advisers, Inc. serving as investment adviser and Allianz Global Investors as subadviser. AllianzGI brings meaningful experience in convertible and multi-asset strategies, with a research-driven process and dynamic allocation capability. That combination positions the fund as a professional-grade income solution for investors seeking distributions and convexity, while accepting the inherent complexities of leverage, market pricing versus NAV, and credit/equity exposure. Historically, the product was launched under an AllianzGI-branded name before the Virtus rebranding. The fund is associated with Hartford, Connecticut, which is the operational center referenced in fund communications and a major hub for US asset-management activity. Its geographic footprint is primarily US-based from a listing and distribution standpoint, although the underlying portfolio may include companies and securities with international exposure through convertibles and equities. Recent developments have remained focused on portfolio financing and shareholder distributions. In 2025, the fund continued to announce monthly distributions, with disclosures indicating that distributions may include return of capital depending on the period and portfolio results. In October 2025, it announced the redemption of all issued and outstanding Class A Mandatory Redeemable Preferred Shares, an important capital-structure event. Overall, ACV remains a total-return oriented closed-end fund aimed at income-seeking investors, but one that requires careful monitoring of NAV performance, distribution composition, and market-price discounts or premiums.