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 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.
Virtus Investment Partners reported preliminary assets under management (AUM) of $107.1 billion in long-term assets and $108.5 billion in total AUM as of June 30, 2020. This increase from March 31, 2020 was driven by market appreciation and positive net flows, with inflows noted in mutual funds, retail separate accounts, and institutional accounts. However, there were net outflows in some product lines. The liquidity assets accounted for $1.4 billion.
On July 6, 2020, Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 payable on July 20, 2020. The distribution plan aims to maintain consistent levels, which may include net investment income and realized capital gains. However, if the fund's earnings are insufficient, the shortfall will be covered by the fund's assets, resulting in a return of capital to shareholders. The current fiscal year-to-date annualized distribution rate stands at 11.14%, indicating the importance of understanding the nature of these distributions.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 on July 20, 2020, consistent with its Managed Distribution Plan. The ex-date is July 10, 2020, with a record date of July 13, 2020. The Fund seeks to maintain consistent distributions from net investment income and realized capital gains. However, recent estimates indicate that distributions exceed its income, suggesting that part of these distributions may constitute a return of capital.