Virtus Investment Partners, Inc. reports developments for a multi-boutique asset management business serving individual and institutional clients. News commonly covers assets under management, sales and net flows across open-end funds, closed-end funds, retail separate accounts and institutional accounts, as well as asset-class trends in equity, fixed income, multi-asset and alternatives strategies.
The company also announces product activity through Virtus ETF Solutions, including actively managed exchange-traded funds managed by affiliated or selected investment managers such as Silvant Capital Management and Duff & Phelps Investment Management. Related updates include earnings releases, non-GAAP performance measures, closed-end fund distribution notices, and investment strategies offered through Virtus-affiliated advisers and subadvisers.
On August 4, 2021, Virtus Investment Partners (NASDAQ: VRTS) and Duff & Phelps Investment Management announced the launch of the Virtus Duff & Phelps Clean Energy ETF (NYSE: VCLN). This actively managed ETF aims to deliver attractive total returns by investing in clean and renewable energy companies worldwide. David Grumhaus, Jr., President and CIO of Duff & Phelps, highlighted the ETF's focus on leading market innovators in the sector. As of June 30, 2021, Duff & Phelps managed $11.4 billion in assets, emphasizing their depth of resources and expertise in energy investing.
On August 3, 2021, Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 per share set for August 19, 2021. This distribution is part of the Fund's Managed Distribution Plan, which may include returns of capital when net investment income and capital gains are insufficient. For July 2021, net investment income contributed 56.1% of the distribution, while 43.9% was a return of capital. The Fund has estimated total distributions exceeding income, indicating potential capital return to shareholders.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, payable on August 19, 2021. The Fund's Managed Distribution Plan aims to maintain consistent distribution levels funded partly by net investment income and realized capital gains. Notably, a significant portion of the distribution, 78.3% for July 2021, is estimated to be a return of capital. The Fund reported a current fiscal year-to-date annualized distribution rate of 10.25% and a fiscal YTD cumulative total return on NAV of 7.94%. Shareholders are advised that returns of capital do not reflect the Fund's investment performance.
Virtus Investment Partners reported strong Q2 2021 results with revenues at $244 million, an 84% increase year-over-year and a 12% rise from Q1. Net income soared 458% to $63 million, resulting in earnings per share of $7.86. Operating income rose 225% to $86.4 million, achieving a margin of 35.4%. However, net flows decreased 54% to $1.3 billion compared to $2.8 billion last year. The company’s total assets under management grew 6% to $178.6 billion, supported by market performance and net flows. Additionally, Virtus announced an agreement to acquire Stone Harbor Investment Partners.
Virtus Investment Partners, Inc. (NASDAQ: VRTS) will release its second-quarter 2021 financial results on July 28, 2021, before the market opens. A conference call will follow at 10:00 a.m. Eastern, hosted by CEO George R. Aylward and CFO Michael A. Angerthal. The conference call is accessible via a webcast or by phone. A replay will be available until August 4, 2021.
Virtus Investment Partners (NASDAQ: VRTS) announced a preliminary total assets under management (AUM) of $178.6 billion as of June 30, 2021. This represents a notable increase from $175.5 billion on March 31, 2021, attributed to market appreciation and positive net flows across various accounts including retail separate accounts, institutional accounts, and ETFs. The company also manages $3.8 billion in other fee-earning assets not included in AUM figures.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 to be paid on July 19, 2021. The distribution will be sourced from net investment income and realized capital gains; however, it may include a return of capital if the fund's earnings are insufficient. For June 2021, the fund's net investment income was $0.043 per share, making up 53.7% of the distribution. The fund reported a 5.40% average annual total return over five years, with a current fiscal year-to-date annualized distribution rate of 7.83%.
Virtus Investment Partners has announced an agreement to acquire 100% of Stone Harbor Investment Partners. The acquisition, expected to complete by the end of 2021, will not change the current personnel managing the Stone Harbor Emerging Markets Income Fund (NYSE: EDF) or Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI). Both funds aim to maximize total return through investments in emerging markets securities, although there is no guarantee of achieving these objectives.
Virtus Investment Partners (NASDAQ: VRTS) has announced the acquisition of Stone Harbor Investment Partners, the investment manager for Stone Harbor Emerging Markets Income Fund (NYSE: EDF) and Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI). The acquisition is expected to conclude by the end of 2021, with no changes to current management of the funds. Both funds aim to maximize total returns through investments in emerging market securities; however, achieving these objectives is not guaranteed.
The merger of Duff & Phelps Select MLP and Midstream Energy Fund (DSE) into Virtus Duff & Phelps Select MLP and Energy Fund (VLPIX) was completed on June 25, 2021. Shareholders of DSE received 1.080565 shares of VLPIX for each share of DSE they held, based on the respective net asset values of $9.4704 for DSE and $8.7643 for VLPIX. The merged fund, now an open-end fund, continues to operate under the ticker VLPIX.
Investors are advised to consider the fund's investment objectives and risks before proceeding.