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.
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.
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.