Virtus Artificial Intelligence & Technology Opportunities Fund Announces Results of Shareholder Meeting

Rhea-AI Summary

On November 11, 2022, Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) reported that shareholders approved a new subadvisory agreement with Voya Investment Management. Voya IM has been managing the fund since July 25, 2022 under an interim agreement. The fund maintains its existing investment objectives and strategies. The fund aims to deliver total return through diverse income sources, while managing risks associated with principal loss and potential trading discounts or premiums on shares.

Positive

• Shareholder approval of new subadvisory agreement with Voya Investment Management.
• No changes to investment objectives or strategies, ensuring consistency.

Negative

• Investment in the fund is subject to the risk of loss of principal.
• Shares may trade at a discount to net asset value.

HARTFORD, Conn., Nov. 11, 2022 /PRNewswire/ -- Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced today that its shareholders have voted to approve a new subadvisory agreement among the fund, its adviser, Virtus Investment Advisers, Inc., and Voya Investment Management (Voya IM).

Voya IM has been managing the fund since July 25, 2022 under an interim subadvisory agreement pending shareholder approval of the new subadvisory agreement. There have been no changes to the investment objectives or investment strategies of the fund.

About the Fund

Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) is a diversified closed-end fund that seeks to provide total return through a combination of current income, current gains, and long-term capital appreciation. A multi-asset approach based on fundamental research is employed, dynamically allocating to attractive segments of a company's debt and equity in order to offer an attractive risk/reward profile.

Fund Risks

An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about each Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.

For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/virtus-artificial-intelligence--technology-opportunities-fund-announces-results-of-shareholder-meeting-301675239.html

SOURCE Virtus Funds

FAQ

What is the new subadvisory agreement for AIO?

The new subadvisory agreement for AIO involves Voya Investment Management, which has managed the fund since July 25, 2022.

When was the shareholder meeting for AIO?

The shareholder meeting for AIO was held on November 11, 2022.

What are the investment objectives of the AIO fund?

AIO seeks to provide total return through a combination of current income, gains, and long-term capital appreciation.

What risks are associated with investing in AIO?

Investing in AIO carries risks including potential loss of principal and shares trading at a premium or discount to net asset value.