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Virtus Global Multi-Sector Income Fund (NYSE: VGI) announces recurring monthly distributions for a diversified closed-end fund focused on current income and capital preservation. The fund invests across major domestic and international fixed-income sectors, using multi-sector bond management rather than a single-sector mandate.
Company updates also describe the fund’s advisory structure, with Virtus Investment Advisers serving as investment adviser and Newfleet Asset Management as subadviser. Recurring fund language highlights fixed-income portfolio management, active sector rotation, disciplined risk management, and exposure to specialized or out-of-favor areas of the bond market.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 on October 19, 2021, with an ex-date of October 8, 2021 and record date of October 12, 2021. The Fund, adhering to its Managed Distribution Plan, aims to maintain consistent distribution levels, which may include returns of capital if net investment income is insufficient. Recent data indicates 54.9% of the September distribution is from return of capital, reflecting an ongoing trend of distributing more than income and capital gains. Current fiscal year-to-date distribution rate stands at 7.99%.
The Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced monthly distributions of $0.08 for October and November 2021. The ex-dates are scheduled for October 8 and November 10, with payable dates on October 19 and November 19. As part of its Managed Distribution Plan, the fund aims to maintain consistent distribution levels, potentially funded by net investment income and capital gains. However, distributions may also include a return of capital, reflecting that the fund's aggregate net investment income may not meet distribution levels, thereby reducing shareholder capital.
On August 3, 2021, Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 per share set for August 19, 2021. This distribution is part of the Fund's Managed Distribution Plan, which may include returns of capital when net investment income and capital gains are insufficient. For July 2021, net investment income contributed 56.1% of the distribution, while 43.9% was a return of capital. The Fund has estimated total distributions exceeding income, indicating potential capital return to shareholders.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 to be paid on July 19, 2021. The distribution will be sourced from net investment income and realized capital gains; however, it may include a return of capital if the fund's earnings are insufficient. For June 2021, the fund's net investment income was $0.043 per share, making up 53.7% of the distribution. The fund reported a 5.40% average annual total return over five years, with a current fiscal year-to-date annualized distribution rate of 7.83%.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08, with distribution details reflecting a 7.64% rate based on the market price and 7.91% based on net asset value as of May 19, 2021. The Fund has reduced its monthly distribution by $0.02 per share, citing the need for sustainability in low-interest conditions. The distribution structure indicates a reliance on net investment income and capital gains; however, some distributions may return capital to shareholders, which doesn't reflect investment performance.
On May 20, 2021, the Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced its monthly distributions of $0.08 per share for June, July, August, and September. The annual distribution rate is approximately 7.64% based on the market price and 7.91% based on the net asset value (NAV). The fund has reduced its monthly distribution rate by $0.02 to maintain sustainability amid low interest rates. A portion of future distributions may consist of return of capital. The fund reported estimates showing significant reliance on capital return.
On May 19, 2021, Virtus Global Multi-Sector Income Fund (NYSE: VGI) and Virtus Total Return Fund Inc. (NYSE: ZTR) held a joint annual meeting resulting in the reelection of their trustees and directors. At VGI, George R. Aylward, Connie D. McDaniel, and Philip R. McLoughlin were confirmed, receiving 97%, 94%, and 94% of votes respectively. For ZTR, Donald C. Burke, Sidney E. Harris, and James M. Oates were reelected, each garnering around 96% support. These elections ensure continuity in leadership for both funds, potentially stabilizing shareholder confidence.
On May 4, 2021, Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a distribution of $0.10 per share, payable on May 20, 2021. The distribution comes in accordance with its Managed Distribution Plan, which indicates that distributions may be derived from net investment income and realized capital gains. However, shareholders should be aware that part of the distribution may constitute a return of capital, as distributions may exceed net income. For April 2021, 46.5% of the distribution was sourced from net investment income and 53.5% from capital return.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share, with an ex-date of April 9, 2021, a record date of April 12, 2021, and a payable date of April 19, 2021. A significant portion of this distribution, estimated at 54.7% for March 2021, comes from return of capital, not net investment income, indicating potential capital erosion for shareholders. The fund's performance shows a -0.22% year-to-date cumulative total return on NAV, suggesting challenges ahead.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced monthly distributions of $0.10 for April and May 2021. The Fund's distribution plan aims to maintain consistent levels, potentially funded by net investment income and realized capital gains. Shareholders should be aware that if total net income and capital gains fall short, distributions may include a return of capital, which does not reflect performance.
For February 2021, net investment income per share was $0.045, accounting for 44.6% of distributions. A significant 55.4% of distributions may be a return of capital.