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. 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.
Newfleet Asset Management and Virtus ETF Solutions have launched the Virtus Newfleet ABS/MBS ETF (NYSE: VABS), marking the third ETF managed by Newfleet. This actively managed ETF aims to generate income through investments in short-duration, investment-grade asset-backed (ABS) and mortgage-backed securities (MBS). Leveraging Newfleet's extensive expertise and disciplined risk management, the ETF targets competitive yields in undervalued securitized credit markets. As of December 31, 2020, Newfleet managed $9.9 billion in fixed-income assets.
Virtus Investment Partners reported total assets under management (AUM) of $132.9 billion as of January 31, 2021. This reflects an increase from $132.2 billion on December 31, 2020. Key products contributing to AUM include open-end funds at $51.175 billion, retail separate accounts at $30.297 billion, and institutional accounts at $40.850 billion. Closed-end funds and exchange-traded funds reported $5.808 billion and $834 million, respectively. Virtus Investment Partners continues to provide diverse investment management solutions.
On February 2, 2021, Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08, with an ex-date of February 10 and payable date of February 19, 2021. Under its Managed Distribution Plan, distributions may be sourced from net investment income, realized capital gains, or from the Fund's assets, which could indicate a return of capital to shareholders. The Fund reported that approximately 84.6% of the January 2021 distribution was from return of capital, highlighting reliance on capital rather than income generation.
Virtus Investment Partners reported strong financial results for Q4 2020, with revenues of $171.6 million, a 17% increase year-over-year. Operating income grew by 35% to $50.9 million, and net income nearly doubled to $43.3 million, leading to a diluted EPS of $5.40, up 91%. Assets under management rose to $132.2 billion, a 21% increase from the previous year. The company also announced a strategic acquisition of Westchester Capital Management and completed a partnership with Allianz Global Investors, enhancing its investment offerings.
Virtus Investment Partners (NASDAQ: VRTS) announced its agreement to acquire Westchester Capital Management, a firm managing approximately $4.3 billion in assets, including $3.6 billion in The Merger Fund. The acquisition aims to enhance Virtus’ portfolio with non-correlated investment strategies focusing on mergers, acquisitions, and corporate reorganizations. Key personnel from Westchester will continue their roles post-acquisition, reinvesting a portion of the proceeds into their strategies. The transaction is expected to close in the second half of 2021, pending customary approvals.
Virtus Investment Partners (NASDAQ: VRTS) has completed its strategic partnership with Allianz Global Investors, gaining client approvals to manage $29.3 billion in assets and an additional $3.6 billion of fee-earning assets. Through this partnership, Virtus expands its offerings with 25 open-end mutual funds, 7 closed-end funds, and a variety of retail separate accounts in diverse investment strategies. NFJ Investment Group, now affiliated with Virtus, manages $8.2 billion in global value equity strategies, utilizing a disciplined value-oriented approach.
DNP Select Income Fund Inc. (DNP) provided answers to shareholder questions regarding its proposed merger with Duff & Phelps Utility and Corporate Bond Trust Inc. (DUC) on January 29, 2021. Notably, shareholders are not required to vote on the merger. DNP aims to achieve long-term income growth through a diversified portfolio, particularly in public utilities. The fund is advised by Duff & Phelps Investment Management, a subsidiary of Virtus Investment Partners (VRTS), managing $116.5 billion in assets as of September 30, 2020.
Virtus Investment Partners (NASDAQ: VRTS) will announce its fourth-quarter 2020 financial results on February 2, 2021, before the market opens. A conference call with key executives, including CEO George R. Aylward and CFO Michael A. Angerthal, is scheduled for 10:00 a.m. Eastern. Investors can access the call via webcast or telephone. A replay will be available until February 9, 2021. This conference call is a key opportunity for investors to gain insights into the company's performance and outlook.
Virtus Investment Partners reported preliminary assets under management (AUM) as of December 31, 2020, totaling $132.2 billion, an increase from $126.068 billion in November 2020. Long-term AUM reached $130.7 billion, driven by market appreciation and positive net flows, including inflows in retail separate accounts and exchange traded funds. The company reported liquidity assets of $1.5 billion. Overall, the figures indicate robust growth and a diversified product offering amidst the investment landscape.
DTF Tax-Free Income Inc. (NYSE: DTF) announced the final results of its recent issuer tender offer for up to 17.5% of its outstanding shares at 98% of the Fund's net asset value (NAV) as of January 8, 2021. The offer expired on January 7, 2021, with 4,335,961 shares tendered, exceeding the 1,491,119 shares available, resulting in an oversubscription. The proration factor for the offer is 34.39%, with the purchase price set at $15.77 per share. Payment for the tendered shares is expected on January 11, 2021.