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 Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI) has announced monthly distributions of $0.07 per share for three consecutive months, starting December 2022 through February 2023. The ex-dates for the distributions are December 12, January 6, and February 10, with record dates following shortly after. The payable dates are set for December 23, January 20, and February 24, respectively. The press release emphasizes that these amounts are estimates and subject to changes based on the fund's fiscal performance and tax regulations.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced monthly distributions of $0.08 per share for December 2022, January 2023, and February 2023. The ex-dates for these distributions are December 9, 2022, January 5, 2023, and February 10, 2023, with record dates following shortly after. The distributions are estimates and the actual amounts may vary based on the Fund’s investment performance. Investors will receive a Form 1099-DIV for tax reporting purposes. The Fund aims to maximize current income while preserving capital through diversified holdings in fixed-income sectors.
Virtus Stone Harbor Emerging Markets Income Fund (NYSE: EDF) announced monthly distributions of $0.06 per share for December 2022, January 2023, and February 2023. The relevant ex-dates, record dates, and payable dates are provided. These amounts are estimates for informational purposes and may change due to the Fund's investment performance and tax regulations. The Fund aims to maximize total return through emerging markets securities. Investors are cautioned that distributions may differ from their actual tax reporting amounts.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 for December 2022, January 2023, and February 2023. The fund operates under a Managed Distribution Plan, potentially distributing amounts from net investment income, capital gains, or Fund assets. Notably, the Fund has indicated distributions may include a return of capital, implying that some returns may not reflect investment performance. For October 2022, the average annual total return on NAV over five years stood at 0.91%, with a fiscal year-to-date annualized distribution rate of 13.81%.
Virtus Investment Partners reported preliminary assets under management of $149.5 billion as of October 31, 2022, an increase from $144.97 billion in September 2022. The company also manages additional fee-earning assets totaling $2.5 billion. Breakdown by product type reveals open-end funds at $55.39 billion, closed-end funds at $10.46 billion, retail separate accounts at $35.23 billion, and institutional accounts at $48.42 billion, indicating overall growth in managed assets.
Virtus Investment Partners reported Q3 2022 earnings with diluted EPS of $4.25, down 42% year-over-year. Total sales declined 25% to $5.7B, while net outflows reached $3.3B, impacting assets under management, which fell 18% to $145B. Operating income decreased 53% to $44M amidst rising operating expenses, which saw a 5% increase. The company announced an agreement to acquire AlphaSimplex, anticipated to finalize in Q1 2023, potentially enhancing their alternative investment offerings.
Virtus Investment Partners (NASDAQ: VRTS) announced the acquisition of AlphaSimplex Group, LLC, a leading manager of liquid alternative investment solutions, with $10.9 billion in assets under management. This strategic move aims to enhance Virtus's offerings in alternative investment strategies, ensuring continuity for AlphaSimplex’s clients and investment processes. The deal is expected to close by the end of Q1 2023, subject to regulatory approvals. With this acquisition, Virtus will leverage AlphaSimplex’s expertise while maintaining its autonomous operations.
Virtus Investment Partners (NASDAQ: VRTS) announced plans to release its third quarter 2022 financial results on October 26, 2022, prior to market opening. The report will be followed by a conference call hosted by CEO George R. Aylward and CFO Michael A. Angerthal at 10:00 a.m. Eastern. The accompanying presentation will be accessible on the company's website. A replay of the call will be available for a year under the Investor Relations section.
Virtus operates a multi-manager asset management business focused on long-term success for investors.
Virtus Investment Partners reported preliminary assets under management of $145.0 billion as of September 30, 2022, reflecting a decrease from June 30, 2022 due to market depreciation and net outflows in various accounts, partially offset by positive net flows in closed-end funds. The company also managed an additional $2.5 billion in other fee-earning assets not included in the total. The breakdown shows open-end funds at $54.5 billion, closed-end funds at $10.1 billion, retail separate accounts at $33.4 billion, and institutional accounts at $47.0 billion.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a distribution of $0.08 per share, with relevant dates: Ex-Date on October 12, 2022, Record Date on October 13, 2022, and Payable Date on October 20, 2022. Under its Managed Distribution Plan, distributions may come from net investment income, realized capital gains, or other sources. The fund indicated that a portion of this amount may represent a return of capital, with a current fiscal YTD annualized distribution rate of 14.14% and a cumulative total return on NAV of -13.18%.