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.
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.
DTF Tax-Free Income Inc. announced the preliminary results of its tender offer for 17.5% of its outstanding shares at 98% of the net asset value (NAV) as of January 8, 2021. The offer expired on January 7, 2021, with approximately 4,335,961 shares tendered, exceeding the 1,491,119 shares available, resulting in an oversubscription. Shares will be purchased on a pro rata basis, with payments expected around January 11, 2021. The Fund aims to provide tax-exempt income and is managed by Duff & Phelps Investment Management. Virtus Investment Partners, with $116.5 billion under management, is the parent company.
On January 4, 2021, Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share. The distribution is set for payment on January 11, 2021, following a record date of December 31, 2020, and an ex-date of January 6, 2021. Under its Managed Distribution Plan, the fund aims to maintain a constant distribution level, which may include returns of shareholder capital if net investment income falls short. The fund's December 2020 distribution was comprised of 34.1% net investment income and 65.9% return of capital.
DNP Select Income Fund (NYSE: DNP) announced a monthly dividend of 6.5 cents per share, payable on February 10, 2021, as part of its Managed Distribution Plan established in 2007. The Plan aims to maintain this distribution rate by utilizing available investment income or long-term capital gains when necessary. In the fiscal year-to-date, the Fund's cumulative total return on NAV is -10.57%, with an annualized distribution rate of 9.03% of NAV. Investors are advised that these distribution amounts are estimates and may change as the fiscal year progresses.
DTF Tax-Free Income Inc. (NYSE: DTF) announced a special taxable distribution of $0.000160 per share to be paid on January 11, 2021. Shareholders of record on December 31, 2020 will receive this distribution, with the ex-dividend date set for December 30, 2020. The fund primarily invests in a diversified portfolio of investment-grade tax-exempt obligations to provide current income exempt from federal income tax.
Virtus Investment Partners (NASDAQ: VRTS), the parent company, manages assets worth $116.5 billion as of September 30, 2020.
On December 17, 2020, DTF Tax-Free Income Inc. (NYSE: DTF) announced a series of dividend payments for its common stock. The dividends are set at 4.0 cents per share with the following key dates: Ex-Dividend Dates on January 14, February 12, and March 12, 2021; Record Dates on January 15, February 16, and March 15, 2021; and Payable Dates on January 29, February 26, and March 31, 2021. The fund aims to provide current income exempt from federal income tax while preserving capital through investments in a diversified portfolio of investment-grade tax-exempt obligations.
The Board of Directors of Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) has declared a quarterly dividend of $0.35 per share. The ex-dividend date is March 12, 2021, with record date on March 15, 2021, and payable date set for March 31, 2021. Since adopting a Managed Distribution Plan in 2015, the fund has aimed to maintain this distribution rate by utilizing available investment income. Notably, in December 2020, the fund's cumulative distribution for the fiscal year was reported at 10.73% on net asset value (NAV), indicating a strong focus on providing tax-advantaged dividend income.