AllianzGI Diversified Income & Convertible Fund is a United States-based diversified, limited term closed-end management investment fund. 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 will invest in a combination of convertible securities, debt and other income-producing instruments and common stocks and other equity securities. The Fund will normally invest approximately 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of convertible securities, income-producing equity securities and income-producing debt and other instruments of varying maturities. The Fund's investment manager is Allianz Global Investors Fund Management LLC (AGIFM). Its sub-advisor is Allianz Global Investors U.S. LLC (AGI U.S.).