Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund Discloses Sources of Distribution - Section 19(a) Notice

Rhea-AI Summary

Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced a monthly distribution of $0.15, with an ex-date of March 10, 2022, record date of March 11, 2022, and payable date of April 1, 2022.

Under its Managed Distribution Plan, the fund's distributions may come from net investment income, realized capital gains, or fund assets, which could represent a return of capital. The fund's fiscal year started February 1, 2022, with a fiscal YTD cumulative total return on NAV at -1.64% and a current fiscal YTD annualized distribution rate of 7.61%.

Positive

• Monthly distribution of $0.15 enhances income for investors.
• Current fiscal YTD annualized distribution rate is 7.61%.
• Average annual total return on NAV over the past 5 years is a robust 21.61%.

Negative

• Fiscal YTD cumulative total return on NAV is -1.64%, indicating a decline in value.
• Distributions are potentially funded from the Fund's assets, which may reduce shareholder capital.

HARTFORD, Conn., March 16, 2022 /PRNewswire/ -- Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) previously announced the following monthly distribution on December 17, 2021:  

Amount of Distribution	Ex-Date	Record Date	Payable Date
$0.15	March 10, 2022	March 11, 2022	April 1, 2022

     

Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part, or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder's capital. You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.

The Fund provided this estimate of the sources of the distributions:

Distribution Estimates	March 2022 (MTD)			Fiscal Year-to-Date (YTD)(1)
(Sources)	Per Share Amount	Percentage of Current Distribution		Per Share Amount	Percentage of Current Distribution
Net Investment Income	$            -	0.0%		$            -	0.0%
Net Realized Short-Term Capital Gains	0.150	100.0%		0.300	100.0%
Net Realized Long-Term Capital Gains	-	0.0%		-	0.0%
Return of Capital (or other Capital Source)	-	0.0%		-	0.0%
Total Distribution	$     0.150	100.0%		$     0.300	100.0%

(1)	Fiscal year started February 1, 2022

Information regarding the Fund's performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund's NAV and not the market price of the Fund's shares. Performance figures are not meant to represent individual shareholder performance.

 

 

February 28, 2022
Average Annual Total Return on NAV for the 5-year period (2)											21.61%
Current Fiscal YTD Annualized Distribution Rate (3)											7.61%
Fiscal YTD Cumulative Total Return on NAV (4)											-1.64%
Fiscal YTD Cumulative Distribution Rate (5)											0.63%

(2)	Average Annual Total Return on NAV is the annual compound return for the five-year period. It reflects the change in the Fund's NAV and reinvestment of all distributions. AIO incepted October 31, 2019, and thus returns represent life to date returns.
(3)	Current Fiscal YTD Annualized Distribution Rate is the current distribution rate annualized as a percentage of the Fund's NAV at month end.
(4)	Fiscal YTD Cumulative Total Return on NAV is the percentage change in the Fund's NAV from the first day of the fiscal year to this month end, including distributions paid and assuming reinvestment of those distributions.
(5)	Fiscal YTD Cumulative Distribution Rate is the dollar value of distributions from the first day of the fiscal year to this month end as a percentage of the Fund's NAV at month end.

 

The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

About the Fund

Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund is a diversified closed-end fund that seeks to generate a stable income stream and growth of capital by focusing on one of the most significant long-term secular growth opportunities in markets today. A multi-asset approach based on fundamental research is employed, dynamically allocating to attractive segments of a company's debt and equity in order to offer an attractive risk/reward profile. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and Allianz Global Investors is its subadviser.

For more information on the Fund, contact shareholder services at (800) 254-5197, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.

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 each fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.

About Allianz Global Investors

Allianz Global Investors or AllianzGI is a leading active asset manager with over 750 investment professionals in 25 offices worldwide and manages assets for individuals, families, and institutions. The investment team has extensive experience managing closed-end funds and a differentiated, multi-asset approach based on fundamental research designed to dynamically allocate across convertible securities and equities.

About Virtus Investment Partners

Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. For more information, visit virtus.com.

 

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SOURCE Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund

FAQ

What is the upcoming distribution date for Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (AIO)?

The upcoming distribution date is April 1, 2022.

What is the amount of distribution announced for AIO in March 2022?

The announced distribution amount for March 2022 is $0.15 per share.

What are the sources of distribution for the AIO fund?

Distributions may come from net investment income, realized capital gains, or fund assets.

How is the performance of the AIO fund measured?

Performance is measured based on the fund's Net Asset Value (NAV) and not the market price of its shares.

What was the fiscal YTD cumulative total return on NAV for the AIO fund?

The fiscal YTD cumulative total return on NAV is reported at -1.64%.