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 (NASDAQ: VRTS) announced preliminary assets under management (AUM) at $187.2 billion as of December 31, 2021, an increase attributed to market performance and the addition of Westchester Capital Management assets. Net flows for Q4 2021 were nearly breakeven, with positive contributions from retail separate accounts, institutional, and ETFs, countered by outflows from open-end funds. Additionally, the company managed $3.8 billion in other fee-earning assets not included in AUM.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 on January 5, 2022, under its Managed Distribution Plan. The distribution consists of 36.7% from net investment income, with 63.3% classified as a return of capital. The fund advises that this return of capital does not reflect investment performance. As of December 31, 2021, the fund reported an average annual total return on NAV of 8.57% over five years and a current fiscal year-to-date annualized distribution rate of 10.18%.
Virtus Investment Partners (NASDAQ: VRTS) has completed its acquisition of Stone Harbor Investment Partners, managing $14.5 billion in assets. This acquisition enhances Virtus' investment capabilities, diversifies its offerings, and expands its non-U.S. institutional client base. Stone Harbor will maintain its autonomy in investment processes while benefiting from Virtus' resources, including distribution and analytical support. The deal is expected to strengthen Virtus' market position and provide clients with a well-regarded emerging markets debt strategy.
As of January 3, 2022, the Fund previously known as DTF Tax-Free Income Inc. is now named DTF Tax-Free Income 2028 Term Fund Inc. This change reflects the Fund's limited term of existence, which will conclude on March 1, 2028, unless extended by the Board. The name alteration will not impact the Fund's ticker symbol (NYSE: DTF) or its securities' CUSIP numbers. The Fund aims to provide current income exempt from federal income tax through a diversified portfolio of investment-grade tax-exempt obligations, managed by Duff & Phelps Investment Management Co., a subsidiary of Virtus Investment Partners.
Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced a new managed distribution plan effective March 25, 2022, along with a 32% increase in its quarterly distribution to $0.50 per share, up from $0.38. This increase represents a 6.6% annualized rate based on the December 16, 2021 closing price of $30.44. The Fund aims to enhance shareholder value and reduce the current discount to net asset value. However, distributions may come from net investment income, realized capital gains, or fund assets, which could affect shareholder capital.
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (AIO) announced a managed distribution plan effective February 1, 2022, raising its monthly distribution to $0.15 per share, a 20% increase from $0.125. This change aims to enhance shareholder value and reduce the discount to net asset value. The annualized distribution rate is 6.7% based on a market price of $26.88 as of December 16, 2021. Under the plan, distributions could be sourced from net investment income and capital gains, with potential capital return considerations for shareholders.
Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced a new managed distribution plan effective February 1, 2022, increasing its monthly distribution rate to $0.18 per share, up 8% from the previous $0.167. This change reflects an annualized distribution rate of 6.3% based on a market price of $34.21. The aim is to enhance shareholder value and reduce the current discount to net asset value. Distributions may come from net investment income, realized capital gains, or Fund assets, potentially impacting shareholder capital.
Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) announced a new managed distribution plan, increasing its quarterly distribution rate to $0.245 per share, a 9% rise from the previous $0.225. This increase will be effective from March 25, 2022, and is part of the fund's commitment to enhance shareholder value. The annualized distribution rate is 6.2% based on a closing market price of $15.73 as of December 16, 2021. The fund aims to provide consistent distributions primarily from net investment income and realized capital gains.
The Board of Directors of DNP Select Income Fund has declared a monthly dividend of 6.5 cents per share, with ex-dividend dates on January 28, February 25, and March 30, 2022. The payment dates are set for February 10, March 10, and April 11, 2022. The fund operates under a Managed Distribution Plan, ensuring consistent payments, primarily from available investment income. For the fiscal year-to-date, the fund has distributed 8.26% of its NAV, with a total return of 18.76%.
DTF Tax-Free Income Inc. (NYSE: DTF) announced a special taxable distribution of $0.164537 per share, set to be paid on January 11, 2022. Shareholders of record as of December 30, 2021 will receive this distribution. The breakdown includes $0.164481 from long-term capital gains and $0.000056 from short-term capital gains. The ex-dividend date is December 29, 2021. DTF focuses on providing current income exempt from federal income tax through a diversified portfolio of investment-grade tax-exempt obligations.