Virtus AllianzGI Closed-End Funds Announce Future Change in Subadviser

HARTFORD, Conn., May 18, 2022 /PRNewswire/ -- Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus AllianzGI Convertible & Income 2024 Target Term Fund (NYSE: CBH), Virtus AllianzGI Convertible & Income Fund (NYSE: NCV), Virtus AllianzGI Convertible & Income Fund II (NYSE: NCZ), Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV), Virtus AllianzGI Equity & Convertible Income Fund (NYSE: NIE), and Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) (each a "Fund" and together, the "Funds") have been informed by Allianz Global Investors U.S. LLC ("AllianzGI"), the subadviser to each Fund, that AllianzGI will no longer act as a subadviser to the Funds after a transition period of up to four months. Consequently, in the coming weeks, the Board of each Fund will consider possible options and alternatives, including a potential proposal to Fund shareholders to approve a new subadviser.

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