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.
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Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) announced that Ellen Elberfeld, CFA, will retire as co-portfolio manager effective May 5, 2023. Eric Elvekrog, current Chief Investment Officer, will take over as the sole portfolio manager. David D. Grumhaus, Jr., President and CEO, expressed regret over Elberfeld's departure but noted confidence in Elvekrog's capabilities, having been a part of the fund's management since its inception in 2011. The fund aims to achieve total return by focusing on high current income and growth, primarily investing in dividend-paying equities in the utility and infrastructure sectors.
Virtus Investment Partners has announced the addition of Andrew Pon and Macalla Rogers to its Global Listed Infrastructure team as research analysts. Pon will focus on the utilities sector while Rogers will support the transportation and midstream energy sectors. This move comes as a strategic enhancement of the firm's research capabilities in essential services that consistently perform well during various economic conditions.
Previously, Pon held positions at Foundry Brands and Causeway Capital Management, and Rogers worked with Stifel Financial Corp. and BMO Global Asset Management. This strengthening of expertise aims to enhance client outcomes across the investment strategies offered, including those available in the Virtus Duff & Phelps Global Infrastructure Fund.
Virtus Investment Partners has appointed Nicholas Holmes, CFA, as portfolio manager for their water strategy. Holmes will work alongside existing team members to manage the Virtus Duff & Phelps Water Fund. With a focus on environmental sustainability, Holmes brings extensive expertise in water sector investments, having previously co-managed a global water strategy at TortoiseEcofin. As of March 31, 2023, Duff & Phelps manages $675 million in water assets, highlighting its commitment to this niche market. Holmes emphasized the firm's strong legacy in investing in real assets and its sustainability focus as key factors in his decision to join.
Virtus Investment Partners (NASDAQ: VRTS) is set to release its financial results for Q1 2023 on April 28, 2023, before the market opens. The announcement was made from Hartford, Connecticut, and the management team, led by President & CEO George R. Aylward and CFO Michael A. Angerthal, will host a conference call and webcast for the investment community at 10:00 a.m. Eastern.
The accompanying presentation will be accessible on the Virtus investment website, and a replay of the call will be available for one year in the investor relations section. Virtus operates a multi-boutique asset management business, providing a range of investment management products and services tailored for diverse investor needs.
Virtus Investment Partners (NASDAQ: VRTS) announced preliminary assets under management of $154.8 billion as of March 31, 2023, reflecting an increase from $154.3 billion on December 31, 2022. The growth was driven by market appreciation and net inflows in retail separate accounts, although this was partially offset by net outflows in open-end funds and institutional accounts. The company also reported $2.6 billion in other fee-earning assets, which are excluded from the assets under management total.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, with an ex-date of April 12, 2023, record date April 13, 2023, and payable date April 25, 2023. Under its Managed Distribution Plan, the fund aims to maintain consistent distribution levels funded through net investment income, realized capital gains, or fund assets. Shareholders should understand that if the income and gains are insufficient, distribution amounts may include a return of capital, which does not reflect the fund's investment performance. As of March 2023, the fund's average annual total return on NAV over the past five years is 5.05%, while the annualized current distribution rate stands at 13.58%. The fiscal year-to-date cumulative total return is -1.32%, and cumulative distribution rate is 4.53%.
Virtus Investment Partners (NASDAQ: VRTS) has successfully completed its acquisition of AlphaSimplex, a leader in quantitative alternative investment strategies, as of April 1, 2023. This strategic acquisition allows Virtus to diversify its alternative investment offerings further, adding AlphaSimplex's systematic strategies, which currently manage $8.3 billion in assets. The firms' combined expertise aims to enhance investment returns even during volatile markets. Noteworthy offerings include the 5-Star Morningstar Rated AlphaSimplex Managed Futures Strategy Fund (ASFYX), which holds $2.7 billion in assets, expected to transition by May 2023.
The Board of Directors of Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) approved a dividend of 35 cents per share. This distribution will be payable on June 30, 2023, for shareholders on record by June 15, 2023. The Fund's Managed Distribution Plan ensures that it maintains this rate, distributing available investment income, capital gains, or return of capital if necessary. For March 2023, the anticipated distribution is also 35 cents per share, with a record date of March 15, 2023 and payment on March 31, 2023. As of February 28, 2023, the Fund reports an average annual total return of 4.20%.
Virtus Investment Partners (NASDAQ: VRTS) reported preliminary assets under management of $154.3 billion as of February 28, 2023. This includes an additional $2.5 billion in fee-earning assets not accounted in the total. The breakdown of assets by product type shows $54.3 billion in open-end funds, $10.3 billion in closed-end funds, and $37.7 billion in retail separate accounts. Institutional accounts totaled $52.0 billion, reflecting a slight decrease compared to January's figures. Overall, the assets under management decreased from $157.8 billion in January, indicating potential shifts in market conditions.