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Virtus Equity & Convertible Income Fund (NIE) is a diversified, closed-end management investment company. Its primary objective is to seek a total return that includes capital appreciation, current income, and gains. The fund achieves this by investing in a diversified portfolio of equity securities and income-producing convertible securities. Such a strategy allows it to provide investors with both growth and income opportunities.
As part of the Virtus Investment Partners family, NIE benefits from a multi-manager asset management business model. This structure comprises several individual affiliated managers, each operating with a distinct investment style, autonomous investment process, and unique brand. This diversified approach ensures a balanced and robust portfolio, mitigating risks while maximizing potential returns.
The fund's portfolio spans various sectors, including aerospace and defense, banks, IT services, software, and more. This sector diversification helps in stabilizing returns and minimizes the impact of sector-specific downturns. By tapping into multiple industries, the fund can leverage growth opportunities across different economic cycles.
Virtus Investment Partners, known for its integrity, quality, and strength, emphasizes its commitment to client success. The firm provides investment management products and services to both individuals and institutions, understanding the significant responsibility of managing their clients' investments.
Recent achievements of the Virtus Equity & Convertible Income Fund include strong financial performance and strategic partnerships that have bolstered its investment capabilities. The fund continually updates its portfolio to align with market trends and capitalize on emerging opportunities, ensuring that it remains a valuable investment vehicle for its stakeholders.
Overall, the Virtus Equity & Convertible Income Fund stands out for its balanced approach to growth and income, diverse sector investments, and commitment to client success. It remains a reliable option for investors looking to achieve a well-rounded investment portfolio.
Virtus Equity & Convertible Income Fund (NYSE: NIE) has announced quarterly distributions of $0.50 per share, payable on December 30, 2024, and March 28, 2025. The Fund's distribution sources include 57.5% from net realized short-term capital gains and 42.5% from net realized long-term capital gains for the current quarter. The Fund's 5-year average annual total return on NAV is 11.67%, with a current annualized distribution rate of 7.96%. Year-to-date, the Fund has achieved a cumulative total return on NAV of 12.01%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) has announced a quarterly distribution of $0.50 per share, payable on September 26, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. For the current distribution, 55.1% comes from net realized short-term capital gains, and 44.9% from net realized long-term capital gains. The fund's 5-year average annual total return on NAV is 11.30%, with an annualized current distribution rate of 7.99%. The fiscal YTD cumulative total return on NAV is 9.32%, with a cumulative distribution rate of 6.00%.
Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50 per share with key dates: Ex-Date and Record Date on June 13, 2024, and Payable Date on June 27, 2024. The Managed Distribution Plan aims to maintain consistent distribution levels sourced from net investment income, realized capital gains, or fund assets, potentially returning a portion of the capital. Performance metrics include a 5-year average annual total return on NAV of 12.33%, a current annualized distribution rate of 8.03%, and a fiscal YTD cumulative total return on NAV of 6.66%. Notably, a substantial portion of the distribution is attributed to the return of capital.
Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50 per share, with an ex-date of June 9, 2023, record date of June 12, 2023, and payable date of June 23, 2023. This distribution is consistent with the Fund's Managed Distribution Plan, which aims to maintain stable distribution levels from net investment income and realized capital gains. Shareholders should be aware that some of this distribution may represent a return of capital, affecting overall investment performance. The Fund's fiscal year-to-date cumulative total return on NAV is -2.27%.
HARTFORD, Conn., Dec. 20, 2022 /PRNewswire/ -- The Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a special year-end distribution of $1.9765 per share, payable on January 10, 2023. The distribution is in addition to the regular quarterly distribution and complies with federal tax requirements. The Fund reported its estimated sources for the distribution, including $0.183 from short-term capital gains and $1.794 from long-term capital gains. Overall, the distribution represents a total of $1.977 for the current fiscal year.
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