AllianzGI Closed-End Funds Announce Fund Name Changes

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.