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 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.
Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $183.7 billion and other fee earning assets of $2.4 billion as of September 30, 2024. Total client assets reached $186.1 billion. The increase in AUM from June 30, 2024 was primarily due to market performance and positive net flows in retail separate accounts, partially offset by net outflows in institutional accounts and open-end funds.
Key AUM figures by product type as of September 30, 2024:
- Open-End Funds: $58.1 billion
- Closed-End Funds: $10.4 billion
- Retail Separate Accounts: $50.6 billion
- Institutional Accounts: $64.6 billion
AUM by asset class:
- Equity: $106.8 billion
- Fixed Income: $39.0 billion
- Multi-Asset: $21.6 billion
- Alternatives: $16.3 billion
The preliminary average AUM for the quarter was $176.0 billion.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on September 26, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.
Key performance metrics for ACV include:
- 5-year Average Annual Total Return on NAV: 11.89%
- Annualized Current Distribution Rate: 9.85%
- Fiscal YTD Cumulative Total Return on NAV: 11.47%
- Fiscal YTD Cumulative Distribution Rate: 5.75%
Shareholders are advised that this distribution may not reflect the fund's actual investment performance and should not be confused with 'yield' or 'income'.
Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced its monthly distribution of $0.15 per share, payable on September 26, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. For September 2024, the distribution sources are estimated as follows:
- 3.9% from Net Realized Short-Term Capital Gains
- 96.1% from Net Realized Long-Term Capital Gains
The fund's fiscal year-to-date distribution includes 12.2% return of capital. AIO's 5-year average annual total return on NAV is 13.40%, with an annualized current distribution rate of 8.18%. The fiscal YTD cumulative total return on NAV is 12.06%, with a cumulative distribution rate of 4.77%.
Virtus Total Return Fund Inc. (NYSE: ZTR) has announced a monthly distribution of $0.05 per share, payable on September 26, 2024. The Fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the Fund estimates that it has distributed more than its income and capital gains, indicating that a portion of the distribution may be a return of capital.
For September 2024, 100% of the distribution is estimated to be a return of capital. The Fund's 5-year average annual total return on NAV is 4.19%, with an annualized current distribution rate of 8.80%. The fiscal YTD cumulative total return on NAV is 18.12%, with a cumulative distribution rate of 6.60%.
Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) has announced its dividend schedule for the upcoming months. The Board of Directors has authorized monthly dividends of $0.07 per share, payable on November 12, 2024, December 10, 2024, and January 10, 2025. This aligns with the Fund's Managed Distribution Plan, adopted in 2015, which aims to distribute all available investment income to shareholders.
The Fund's September 2024 distribution is estimated to be 100% return of capital. Year-to-date distributions are 98.3% return of capital and 1.7% net investment income. As of August 30, 2024, the Fund's average annual total return on NAV for the past 5 years was 4.45%, with an annualized current distribution rate of 6.73% of NAV.
Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $180.5 billion and other fee-earning assets of $2.6 billion, totaling $183.1 billion in client assets as of August 31, 2024. The increase from July 31, 2024, was primarily due to market performance and positive net flows in retail separate accounts, partially offset by net outflows in institutional accounts and open-end funds. The preliminary average AUM for the month was $175.6 billion.
By product type, open-end funds led with $57.2 billion, followed by institutional accounts at $63.8 billion. In terms of asset class, equity dominated with $104.8 billion, while fixed income stood at $38.1 billion. Multi-asset and alternatives categories accounted for $21.3 billion and $16.3 billion, respectively.
Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) has announced its monthly distribution of $0.07 per share, payable on September 10, 2024, to shareholders of record on August 30, 2024. The fund operates under a Managed Distribution Plan, aiming to distribute all available investment income to shareholders. For the August 2024 distribution, 100% of the $0.07 per share amount is categorized as Return of Capital.
Year-to-date, the fund has distributed $0.770 per share, with 98.2% classified as Return of Capital and only 1.8% as Net Investment Income. As of July 31, 2024, DPG's average annual total return on NAV for the past 5 years was 3.46%, and its annualized current distribution rate as a percentage of NAV was 7.06%. The fund's cumulative total return on NAV for the fiscal year stood at 27.54%.
Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has completed its termination and liquidation on August 30, 2024. The Fund's final net asset value (NAV) was $9.2342 per common share, with liquidation proceeds paid to shareholders on September 4, 2024. Launched on June 29, 2017, the Fund paid total distributions of $4.2152 per share, representing an average annual distribution rate of 6.36% on the final NAV. The annualized total return for initial investors was 5.34% based on NAV and 5.26% based on market price. Shareholders may recognize gains or losses for tax purposes and are advised to consult tax advisors regarding potential tax liabilities from the liquidation proceeds.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a $0.34375 per share cash distribution for its Series A cumulative preferred shareholders. The distribution is payable on September 30, 2024, to shareholders of record on September 13, 2024. The Series A Cumulative Preferred Shares, trading under the symbol NCZ PR A, are rated "A" by Fitch Ratings and offer an annual dividend rate of $1.375 per share. These shares were initially issued on September 11, 2018, at $25.00 per share and pay quarterly distributions. The current distribution covers the accrual period from July 1, 2024, through September 30, 2024. Notably, the Series A Cumulative Preferred Shares are now callable at any time at the liquidation value of $25.00 per share plus accrued dividends.