AllianzGI Diversified Income & Convertible Fund (NYSE:ACV) announces a share repurchase program. Under the program, the company will repurchase its shares in the open market on any day when the Fund's Common Shares are trading at a discount of 2% or more from the Common Shares' closing NAV on the prior trading day and the Common Shares are trading below $25 per share. On each such day that shares are repurchased under the Repurchase Plan, the Fund will, subject to certain conditions under Rule 10b-18 of the Exchange Act and other applicable laws, including Regulation M, which may prohibit such repurchases under certain circumstances, repurchase its shares in an amount equal to the lesser of (i) $125,000 based on the aggregate purchase price of the common Shares or the maximum number of Common Shares the Fund may purchase under Rule 10b-18, which, generally, is currently 25% of the average daily trading volume of the Common Shares over the trailing four week period. The shares will be repurchasedc followeing the public offering. Any acquisition of Common Shares by the Fund would decrease the managed assets of the Fund and therefore tend to have the effect of increasing the Fund's gross expense ratio and decreasing the asset coverage with respect to any leverage outstanding.

As on September 4, 2015, the company commenced the share repurchase plan. The Repurchase Plan will remain in effect until 230 days after the commencement of the Repurchase Plan i.e., April 21, 2016.