Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) Announces Results of Special Meeting of Shareholders

Rhea-AI Summary

On February 25, 2021, Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced that shareholders approved a new investment advisory agreement with Virtus Investment Advisers (VIA) and a subadvisory agreement with Allianz Global Investors U.S. LLC. Effective February 26, 2021, the changes are not expected to alter the management team or increase fees for shareholders. Investors are advised that fund shares involve risks, including potential loss of principal and share value fluctuations relative to the fund's net asset value.

Positive

• Shareholders approved a new investment advisory agreement.
• No change in management team or fees expected.

Negative

• Investment involves risks, including potential loss of principal.

NEW YORK, Feb. 25, 2021 /PRNewswire/ -- Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced today that its shareholders have voted to approve a new investment advisory agreement with Virtus Investment Advisers (VIA) as well as a new subadvisory agreement by and among the fund, VIA, and Allianz Global Investors U.S. LLC.

The new investment advisory agreement and subadvisory agreement for the fund will become effective February 26, 2021. The transition to VIA is not expected to directly result in any change to the personnel responsible for managing the fund's assets or the composition of the fund's portfolios, or in any increase in the fees or expenses borne by the fund's shareholders.

The fund's daily closing market prices and net asset values per share, as well as other information, including updated portfolio statistics and performance, are available on the fund's web page or by calling Shareholder Services at (800) 254-5197.

Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the fund's investment objective and risks, please see its most recent annual report, a copy of which may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.

 

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SOURCE Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund

FAQ

What new agreements were approved for AIO on February 25, 2021?

Shareholders approved a new investment advisory agreement with Virtus Investment Advisers and a subadvisory agreement with Allianz Global Investors.

When do the new agreements for AIO take effect?

The new agreements will take effect on February 26, 2021.

Will the changes in management affect AIO's performance?

The transition is not expected to change the personnel managing the fund or its portfolio composition.

What risks are associated with investing in AIO?

Investing in AIO carries risks, including potential loss of principal and fluctuation of share value relative to its net asset value.