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.
On September 16, 2020, Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) announced a dividend of $0.35 per share, with an ex-date of December 14, 2020 and payable date of December 31, 2020. The fund operates under a Managed Distribution Plan, which aims to provide consistent dividends, potentially funded through capital gains or return of capital when necessary. The fund's total return on NAV for the fiscal year stands at -15.27%, while the current annualized distribution rate is 10.95% of NAV.
Virtus Investment Partners (NASDAQ: VRTS) reported preliminary assets under management (AUM) as of August 31, 2020, totaling $118.2 billion, which includes $1.4 billion in liquidity assets. This marks an increase from $114.1 billion in July 2020. Long-term AUM reached $116.8 billion, up from $112.7 billion the previous month. Notable contributions come from open-end funds at $43.8 billion and retail separate accounts at $24.7 billion. This growth underscores the firm's strong position in the investment management sector.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced its monthly distributions of $0.10 for October and November 2020. The fund's distributions are part of its Managed Distribution Plan, which may involve returns of capital if net investment income and realized capital gains are insufficient. In July 2020, net investment income accounted for 48.5% of distributions, while returns of capital amounted to 51.5%. The fund's average annual total return on NAV for the past five years is 5.06%, and its current fiscal YTD annualized distribution rate is 9.72%.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 on August 28, 2020. The distributions are scheduled for October 20 and November 19, 2020. The fund's Managed Distribution Plan aims to maintain consistent levels, potentially funded by net investment income, capital gains, or fund assets, which may lead to a return of capital to shareholders. The fund estimated a return of capital comprising 70.8% of the July distribution, with a fiscal year-to-date cumulative total return on NAV at -3.93% and an annualized distribution rate of 10.65%.
Virtus Investment Partners, Inc. (NASDAQ: VRTS) has declared a quarterly cash dividend of $0.82 per share, marking a 22% increase from the previous dividend of $0.67. This increase reflects the company’s strong free cash flow and its robust balance sheet, supporting its capital priorities such as investing in the business and returning capital to shareholders. The upcoming dividend will be paid on November 13, 2020, to shareholders of record on October 30, 2020. This marks the third consecutive year of dividend increases.
Virtus Investment Partners (NASDAQ: VRTS) announced preliminary asset figures as of July 31, 2020, reporting $112.7 billion in long-term assets under management (AUM) and $114.1 billion in total AUM, which includes $1.4 billion in liquidity assets. Key segments contributing to long-term AUM include Open-End Funds at $42.3 billion, Closed-End Funds at $5.9 billion, and Retail Separate Accounts at $23.6 billion. The previous month’s figures showed long-term AUM of $107.1 billion.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share, effective August 20, 2020. This is part of its Managed Distribution Plan, which may involve returns of capital if net investment income and realized capital gains fall below distribution levels. For July 2020, net investment income contributed $0.048 (48.5%), while $0.052 was considered return of capital (51.5%). The current annualized distribution rate stands at 9.72%.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share. The distribution will be payable on August 20, 2020, with an ex-date of August 12 and a record date of August 13. Under its Managed Distribution Plan, the fund distributes amounts sourced from net investment income, realized capital gains, or shareholder capital. Notably, a portion of the distribution may include a return of capital, implying the fund has distributed more than its income and gains, and does not reflect investment performance.
Virtus Investment Partners (NASDAQ: VRTS) reported Q2 2020 financial results on July 24, revealing a revenue decline of 5% year-over-year to $132.9 million. Operating expenses decreased by 4%, leading to an operating income of $26.6 million, down 12%. Net income fell by 54% to $11.3 million, yielding earnings per share (EPS) of $1.43. Assets under management rose 20% sequentially to $107.1 billion, driven by market appreciation and positive net flows of $2.5 billion. The company announced a strategic partnership with Allianz Global Investors, which is expected to close by year-end 2020.
Virtus Investment Partners (NASDAQ: VRTS) will announce its Q2 2020 financial results before the market opens on July 24, 2020. A subsequent conference call for investors will occur at 10:00 a.m. Eastern, led by George R. Aylward and Michael A. Angerthal. Investors can access the call via webcast or by phone. The presentation for the call will be available on the Investor Relations section of its website. A recording of the call will be accessible until July 31, 2020.
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