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 AllianzGI Convertible & Income Fund (NCV) has declared a cash distribution of $0.3515625 per share for its Series A cumulative preferred shareholders. This payment will be made on December 31, 2021, to shareholders of record as of December 13, 2021. The Series A shares, trading under the symbol NCV PR A, were issued at $25.00 each and carry an annual dividend rate of $1.40625. The fund's distributions are subject to changes based on the fund's investment performance and tax regulations.
Virtus AllianzGI Convertible & Income Fund II (NCZ) has declared a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on December 31, 2021. This distribution pertains to the accrual period from October 1, 2021, through December 31, 2021, with shareholders of record on December 13, 2021. The Series A shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.375 and were issued at $25.00 per share. The shares will be callable post a five-year non-call period ending on September 11, 2023.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 per share for December 2021 through March 2022. The ex-dates for these distributions are set between December 10, 2021, and March 10, 2022, with payable dates following shortly after. The Fund aims to maintain a consistent level of distributions, which may include a return of capital if net income and capital gains are insufficient. For the fiscal year to date, the Fund has a current distribution rate of 10.25% and has distributed more than its income, indicating that a portion may be a return of capital.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced the removal of its managed distribution plan, effective December 2021. The fund will continue to pay $0.08 per share in monthly distributions. This decision follows the elimination of an option overlay strategy that was part of the fund's investment approach since 2015, potentially lowering fund expenses. Future distributions will depend on net investment income and capital gains, with a supplemental distribution announcement planned for January 3, 2022.
Virtus Investment Partners reported preliminary assets under management (AUM) of $187.4 billion as of October 31, 2021. This figure includes $5.1 billion from the recent acquisition of Westchester Capital Management. The company also managed $3.8 billion in additional fee-earning assets. Key figures by product type include $79.9 billion in open-end funds and $43.3 billion in retail separate accounts, reflecting a growth from $177.3 billion in AUM in September 2021.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, set for payment on November 19, 2021, following an ex-date of November 10, 2021. As part of its Managed Distribution Plan, distributions may include net investment income and realized capital gains, with potential returns of capital affecting shareholders. For October 2021, the fund's net investment income per share was $0.008, yielding 10.2% of the current distribution. The average annual total return on NAV for the past five years is 7.87%.
On November 5, 2021, the Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 per share. The ex-date is November 10, 2021, with a record date of November 12, 2021 and payable date of November 19, 2021. The Fund's Managed Distribution Plan indicates that distributions may include returns of capital if net investment income falls short. As of October 2021, approximately 52.5% of distribution sources came from net investment income, with the remainder expected to be a return of capital.
Virtus Investment Partners (NASDAQ: VRTS) reported significant financial growth for Q3 2021, with revenues of $252.1 million, a 63% increase compared to $154.8 million in Q3 2020. Operating income surged 128% to $93.3 million, and net income rose to $58.7 million, marking a 98% increase year-over-year. Adjusted earnings per share reached $9.71, up 116% from the previous year. However, total assets under management declined slightly to $177.3 billion, and net flows turned negative at $(0.6) billion. The company also announced a debt refinancing and completed the acquisition of Westchester Capital Management.
Virtus Investment Partners (NASDAQ: VRTS) will announce its Q3 2021 financial results on Wednesday, October 27, 2021, before market opening. A conference call hosted by CEO George R. Aylward and CFO Michael A. Angerthal will follow at 10:00 a.m. ET. Investors can access the call via webcast or by telephone. The presentation accompanying the call will be available on their Investor Relations website. This announcement highlights the company's ongoing commitment to transparency and investor engagement.
Virtus Investment Partners reported preliminary assets under management (AUM) of $177.3 billion as of September 30, 2021, reflecting a decrease from $183.3 billion on June 30, 2021. The decline was attributed to market performance and net outflows from open-end funds, although it was partially offset by positive net flows in retail separate accounts, exchange-traded funds, and institutional accounts. Additionally, the firm managed $3.7 billion in other fee-earning assets not included in AUM.