Welcome to our dedicated page for Virtus Investmen news (Ticker: VRTS), a resource for investors and traders seeking the latest updates and insights on Virtus Investmen stock.
Virtus Investment Partners, Inc. (NYSE: VRTS) operates a multi-manager asset management business and regularly issues news and updates related to its investment platform, affiliated managers, and funds. This news page aggregates company announcements, fund notices, and regulatory disclosures that are relevant to investors following VRTS.
Virtus frequently reports on its preliminary assets under management and other fee-earning assets, broken down by product type and asset class. These updates describe trends across open-end funds, closed-end funds, retail separate accounts, institutional accounts, and exchange-traded funds, as well as allocations to equity, fixed income, multi-asset, and alternatives strategies.
News items also cover developments at affiliated and advised closed-end funds, including Duff & Phelps Utility and Infrastructure Fund Inc., DNP Select Income Fund Inc., DTF Tax-Free Income 2028 Term Fund Inc., Virtus Total Return Fund Inc., Virtus Equity & Convertible Income Fund, Virtus Artificial Intelligence & Technology Opportunities Fund, and Virtus Diversified Income & Convertible Fund. These releases often include information on managed distribution plans, special year-end distributions, regular dividends, and Section 19(a) notices that explain the estimated sources of distributions among net investment income, realized capital gains, and return of capital.
Corporate announcements from Virtus may highlight strategic transactions, such as the acquisition of a minority interest in Crescent Cove Advisors, LP, which adds a private markets capability focused on lending to high-growth technology companies. Other disclosures include material definitive agreements, such as the Equity Purchase Agreement to acquire a majority interest in Keystone National Group, LLC, and credit agreements that provide term loans and revolving credit facilities.
By reviewing the news associated with VRTS, investors can monitor updates on assets under management, fund distribution policies, strategic investments in alternative and private markets, and financial and regulatory developments affecting Virtus’ multi-manager asset management platform.
Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced monthly distributions of $0.15 per share from December 2024 through March 2025. The Fund's performance shows a 13.35% average annual total return on NAV for the 5-year period and a 14.15% fiscal YTD cumulative total return. The current distribution sources include 47.3% from net realized short-term capital gains and 52.7% from net realized long-term capital gains. The Fund maintains an 8.14% annualized current distribution rate and a 6.11% fiscal YTD cumulative distribution rate.
Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced a 1-for-4 reverse stock split effective February 10, 2025. The funds will maintain their trading symbols but receive new CUSIPs. Shareholders will be paid cash for fractional shares while maintaining the same percentage ownership. The boards expect the split to result in higher per-share market prices, potentially broadening the investor base and improving stock liquidity. Monthly distributions will continue with adjusted rates: NCV's distribution will increase from $0.034 to $0.136, and NCZ's from $0.030 to $0.120 after the split.
Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $179.4 billion and other fee-earning assets of $2.3 billion, totaling $181.7 billion as of October 31, 2024. The decline in AUM from the previous month is attributed to market performance and net outflows from open-end funds and institutional accounts, partially offset by positive net flows in retail separate accounts. Preliminary average AUM for the quarter was $182.4 billion.
By product type, AUM figures were:
- Open-End Funds: $56.6 billion
- Closed-End Funds: $10.3 billion
- Retail Separate Accounts: $49.8 billion
- Institutional Accounts: $62.7 billion
By asset class, AUM figures were:
- Equity: $104.5 billion
- Fixed Income: $38.2 billion
- Multi-Asset: $21.3 billion
- Alternatives: $15.4 billion
Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) announced its monthly distribution of $0.07 per share, payable November 12, 2024. Under its Managed Distribution Plan, the October distribution consists entirely of return of capital (100%). Year-to-date distributions total $0.910 per share, with 98.5% from return of capital and 1.5% from net investment income. The Fund's 5-year average annual return on NAV is 4.80%, with a current annualized distribution rate of 6.52% of NAV. The Fund's fiscal year-to-date total return on NAV stands at 39.70%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on October 30, 2024. The Fund's distribution analysis reveals that 100% of the current distribution ($0.180) represents a return of capital. The Fund's performance metrics show a 12.57% average annual total return on NAV for the 5-year period, with a 9.73% annualized current distribution rate. The fiscal YTD cumulative total return on NAV stands at 13.78%, while the fiscal YTD cumulative distribution rate is 6.49%.
The Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced a monthly distribution of $0.15 per share, payable on October 30, 2024. The distribution sources include 1.9% from net investment income and 98.1% from net realized long-term capital gains for October 2024. The Fund's fiscal year-to-date performance shows a 14.02% cumulative total return on NAV, with an 8.10% annualized current distribution rate. The Fund's five-year average annual total return on NAV stands at 13.55%.
Virtus Total Return Fund (NYSE: ZTR) announced a monthly distribution of $0.05 per share, payable on October 30, 2024. The Fund's distribution analysis reveals that 100% of the October distribution comes from return of capital, with no contribution from investment income or capital gains. For the fiscal year-to-date, 96% of distributions were return of capital, while 4% came from net investment income. The Fund's performance metrics show a 5-year average annual return on NAV of 4.64%, an annualized distribution rate of 8.57%, and a fiscal YTD cumulative total return of 22.22%.
Virtus Investment Partners reported strong Q3 2024 financial results with diluted EPS of $5.71 and adjusted EPS of $6.92. Total assets under management reached $183.7 billion, up 6% from the previous quarter, driven by market performance and positive net flows in retail separate accounts, ETFs, and global funds. Total sales increased 7% to $6.6 billion with improvements across all product categories. Operating income grew 25% to $55.3 million, while operating margin expanded to 24.3%. The company maintained strong financial position with $195.5 million in cash and reduced gross debt to $241.8 million.
Virtus Investment Partners (NYSE: VRTS) has launched the Virtus KAR Mid-Cap ETF (NYSE: KMID), the first ETF strategy managed by Kayne Anderson Rudnick (KAR). The actively managed ETF focuses on 25-35 high-quality mid-cap stocks, chosen through KAR’s rigorous business-analyst approach to fundamental research. The goal is to achieve attractive, risk-adjusted long-term returns by investing in businesses with sustainable competitive advantages and above-average growth potential. Jon Christensen, CFA, and Craig Stone manage the ETF. Virtus’ multi-manager ETF platform now includes 19 actively managed and index-based ETFs, offering diverse asset classes.
Virtus Investment Partners, Inc. (NYSE: VRTS), a multi-boutique asset management company, has announced its plan to release third quarter 2024 financial results before the market opens on Friday, October 25, 2024. Following the release, the company will host a conference call and webcast at 10:00 a.m. Eastern for the investment community.
The call will be led by George R. Aylward, president and CEO, and Michael A. Angerthal, executive vice president and CFO. An accompanying presentation will be available in the Presentations section of virtus.com. For those unable to attend, a replay of the call will be accessible in the Investor Relations section for at least one year.