AllianzGI Diversified Income & Convertible Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The Fund invests in a combination of convertible securities, debt and other income-producing instruments and common stocks and other equity securities. The Fund expects to employ a strategy of writing (selling) covered call options on the stocks held in the equity portion of the portfolio. It invests in various sectors, including technology, healthcare, industrials, energy, telecommunications, biotechnology, food and staples retailing, Internet software/services, semiconductors and semiconductor equipment, and media. Allianz Global Investors Fund Management LLC is the Fund's investment manager. Allianz Global Investors U.S. LLC and NFJ Investment Group LLC are sub-advisors of the Fund.