Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund Discloses Sources of Distribution - Section 19(a) Notice
The Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (AIO) announced a monthly distribution of $0.15, with an ex-date of April 8, 2022, a record date of April 11, 2022, and a payable date of May 2, 2022. The distribution may derive from net investment income and realized capital gains. If these are insufficient, the shortfall will be sourced from the Fund's assets, potentially indicating a return of capital. For fiscal year-to-date, the annualized distribution rate is 7.53%, and the cumulative total return on NAV is 0.06%. Performance figures are based on NAV and not market price.
- Monthly distribution of $0.15 per share.
- Current annualized distribution rate is 7.53%.
- 5-year average annual total return on NAV is 21.64%.
- Net investment income reported as $0, raising concerns over sustainability of distributions.
- Any shortfall in net investment income may lead to return of capital distributions.
HARTFORD, Conn., April 21, 2022 /PRNewswire/ -- Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) previously announced the following monthly distribution on March 7, 2022:
Amount of Distribution | Ex-Date | Record Date | Payable Date |
April 8, 2022 | April 11, 2022 | May 2, 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 | April 2022 (MTD) | Fiscal Year-to-Date | |||
(Sources) | Per Share | Percentage | Per Share | Percentage | |
Net Investment Income | $ - | $ - | |||
Net Realized Short-Term Capital Gains | 0.150 | 0.450 | |||
Net Realized Long-Term Capital Gains | - | - | |||
Return of Capital (or other Capital Source) | - | - | |||
Total Distribution | $ 0.150 | $ 0.450 | |||
(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.
March 31, 2022 | |||
Average Annual Total Return on NAV for the 5-year period (2) | |||
Current Fiscal YTD Annualized Distribution Rate (3) | |||
Fiscal YTD Cumulative Total Return on NAV (4) | |||
Fiscal YTD Cumulative Distribution Rate (5) | |||
(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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/virtus-allianzgi-artificial-intelligence--technology-opportunities-fund-discloses-sources-of-distribution--section-19a-notice-301530565.html
SOURCE Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund
FAQ
What is the distribution amount for Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (AIO)?
When is the payable date for the AIO distribution?
What are the sources of the AIO fund's distributions?
What is the current annualized distribution rate for AIO?
What is the 5-year average annual total return for AIO?
