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 Total Return Fund (NYSE: ZTR) announced a monthly distribution of $0.05 per share, payable on May 30, 2024. The distribution may be sourced from net investment income, realized capital gains, or return of capital. For May 2024, the entire distribution is estimated to be a return of capital. Fiscal year-to-date, 92.7% of distributions have been from return of capital. Performance figures, based on NAV, show a 5-year average annual return of 1.90% and a fiscal YTD total return of 0.17%. The current distribution rate is 10.02% annualized, while the fiscal YTD cumulative distribution rate stands at 4.17%.
Notably, these estimates may not align with tax reporting purposes, and shareholders will receive a Form 1099-DIV for federal tax reporting.
Virtus Investment Partners (NYSE: VRTS) announced the launch of the Virtus AlphaSimplex Managed Futures ETF (NYSE: ASMF). This ETF leverages AlphaSimplex Group's expertise in systematic alternative investment strategies, utilizing proprietary research and dynamic risk management systems. ASMF aims to diversify traditional long-only portfolios by seeking positive risk-adjusted returns with low correlations to traditional asset classes. It targets the risk/return characteristics of the top 20 managed futures funds globally, offering long or short exposure to equities, fixed income, currencies, and commodities.
Managed by Dr. Alexander D. Healy and Dr. Kathryn M. Kaminski, ASMF is part of Virtus' multi-manager ETF platform, which includes 18 actively managed and index-based ETFs. The product aims to provide enhanced beta exposure and daily liquidity within an efficient, transparent ETF structure.
Virtus Investment Partners (NYSE: VRTS) has declared a quarterly cash dividend of $1.90 per common share for Q2 2024.
The dividend will be paid on August 15, 2024, to shareholders on record as of July 31, 2024.
Future dividend decisions will be subject to Board approval.
Virtus Investment Partners, Inc. reported preliminary assets under management of $170.1 billion as of April 30, 2024. The company also managed $2.6 billion in other fee-earning assets. Assets were distributed across various product types and asset classes, with slight decreases from the previous month.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced the final results of its tender offer to acquire 10% of its outstanding shares. The Fund accepted 6,857,832 shares, representing 10% of its outstanding shares, for payment on or about May 8, 2024. A total of 23,504,666.8517 shares were properly tendered, with approximately 29.18% of the shares tendered by each stockholder accepted for payment. The purchase price of the accepted shares is 98% of the Fund's net asset value per share, equal to $5.9976 per share.
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