Welcome to our dedicated page for Virtus Diversified Income & Convertible Fund news (Ticker: ACV), a resource for investors and traders seeking the latest updates and insights on Virtus Diversified Income & Convertible Fund stock.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) is a diversified, closed-end management investment company. The Fund's investment objective is to provide total return through a combination of current income and capital appreciation while seeking to offer downside protection against capital loss.
To achieve its investment objectives, ACV dynamically allocates assets across convertible securities, debt, income-producing instruments, and equity securities. Typically, the Fund invests at least 50% of its total managed assets in convertible securities and may write covered call options on its equity holdings. This strategic mix aims to balance income generation and growth potential, offering a diversified approach to asset management.
The Fund has a limited term and is set to terminate on the first business day following the 15th anniversary of the effective date of its registration statement, May 22, 2030. However, the Fund’s Board of Trustees may extend the Fund's term by up to 12 months if needed.
Virtus Investment Advisers, Inc. acts as the investment adviser, and Voya Investment Management serves as the subadviser. Through this collaboration, the Fund leverages the expertise and resources of both firms to manage its diversified portfolio effectively.
Recent Developments and Financial Performance
The Fund has consistently maintained a monthly distribution of $0.18 per share under its Managed Distribution Plan. This plan aims to provide a stable distribution level, which may include net investment income, realized capital gains, or a return of capital. For instance, in the fiscal year that started on February 1, 2023, the Fund has occasionally distributed more than its income and capital gains, leading to a return of capital distribution. It is important to note that such distributions do not necessarily reflect the Fund’s investment performance and should not be confused with yield or income.
As of the most recent performance data:
- Average Annual Total Return on NAV for the 5-year period: 11.81%
- Annualized Current Distribution Rate: 10.36%
- Fiscal YTD Cumulative Total Return on NAV: 9.26%
- Fiscal YTD Cumulative Distribution Rate: 10.36%
For more information on the Fund’s performance, distribution rates, and risks, shareholders can access detailed reports and documentation on the Virtus website or contact shareholder services.
For shareholder services, please contact (866) 270-7788 or email closedendfunds@virtus.com. More information is also available in the Closed-End Funds section of virtus.com.
Fund Risks
An investment in the Fund carries various risks, including the potential loss of principal. Shares of closed-end funds may trade at a premium or discount to their NAV. Investors should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. Detailed information is available in the Fund's annual report, which can be obtained free of charge by contacting shareholder services.
FAQ
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What types of investments does the Fund typically include in its portfolio?
How often does the Fund distribute dividends?
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Who are the investment adviser and subadviser for the Fund?
What is the Fund’s limited term and expiration date?
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What is the Managed Distribution Plan?
