Virtus Investment Partners, Inc. - VRTS STOCK NEWS

Virtus Investment Partners has appointed Nicholas Holmes, CFA, as portfolio manager for their water strategy. Holmes will work alongside existing team members to manage the Virtus Duff & Phelps Water Fund. With a focus on environmental sustainability, Holmes brings extensive expertise in water sector investments, having previously co-managed a global water strategy at TortoiseEcofin. As of March 31, 2023, Duff & Phelps manages $675 million in water assets, highlighting its commitment to this niche market. Holmes emphasized the firm's strong legacy in investing in real assets and its sustainability focus as key factors in his decision to join.

Virtus Investment Partners (NASDAQ: VRTS) is set to release its financial results for Q1 2023 on April 28, 2023, before the market opens. The announcement was made from Hartford, Connecticut, and the management team, led by President & CEO George R. Aylward and CFO Michael A. Angerthal, will host a conference call and webcast for the investment community at 10:00 a.m. Eastern.

The accompanying presentation will be accessible on the Virtus investment website, and a replay of the call will be available for one year in the investor relations section. Virtus operates a multi-boutique asset management business, providing a range of investment management products and services tailored for diverse investor needs.

Virtus Investment Partners (NASDAQ: VRTS) announced preliminary assets under management of $154.8 billion as of March 31, 2023, reflecting an increase from $154.3 billion on December 31, 2022. The growth was driven by market appreciation and net inflows in retail separate accounts, although this was partially offset by net outflows in open-end funds and institutional accounts. The company also reported $2.6 billion in other fee-earning assets, which are excluded from the assets under management total.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, with an ex-date of April 12, 2023, record date April 13, 2023, and payable date April 25, 2023. Under its Managed Distribution Plan, the fund aims to maintain consistent distribution levels funded through net investment income, realized capital gains, or fund assets. Shareholders should understand that if the income and gains are insufficient, distribution amounts may include a return of capital, which does not reflect the fund's investment performance. As of March 2023, the fund's average annual total return on NAV over the past five years is 5.05%, while the annualized current distribution rate stands at 13.58%. The fiscal year-to-date cumulative total return is -1.32%, and cumulative distribution rate is 4.53%.

Virtus Investment Partners (NASDAQ: VRTS) has successfully completed its acquisition of AlphaSimplex, a leader in quantitative alternative investment strategies, as of April 1, 2023. This strategic acquisition allows Virtus to diversify its alternative investment offerings further, adding AlphaSimplex's systematic strategies, which currently manage $8.3 billion in assets. The firms' combined expertise aims to enhance investment returns even during volatile markets. Noteworthy offerings include the 5-Star Morningstar Rated AlphaSimplex Managed Futures Strategy Fund (ASFYX), which holds $2.7 billion in assets, expected to transition by May 2023.

The Board of Directors of Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) approved a dividend of 35 cents per share. This distribution will be payable on June 30, 2023, for shareholders on record by June 15, 2023. The Fund's Managed Distribution Plan ensures that it maintains this rate, distributing available investment income, capital gains, or return of capital if necessary. For March 2023, the anticipated distribution is also 35 cents per share, with a record date of March 15, 2023 and payment on March 31, 2023. As of February 28, 2023, the Fund reports an average annual total return of 4.20%.

Virtus Investment Partners (NASDAQ: VRTS) reported preliminary assets under management of $154.3 billion as of February 28, 2023. This includes an additional $2.5 billion in fee-earning assets not accounted in the total. The breakdown of assets by product type shows $54.3 billion in open-end funds, $10.3 billion in closed-end funds, and $37.7 billion in retail separate accounts. Institutional accounts totaled $52.0 billion, reflecting a slight decrease compared to January's figures. Overall, the assets under management decreased from $157.8 billion in January, indicating potential shifts in market conditions.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, effective from March 23, 2023. The ex-date is March 10, 2023, and the record date is March 13, 2023. Under its Managed Distribution Plan, the Fund aims to sustain a stable distribution level, which may be funded from net investment income and realized capital gains or from the Fund's assets, potentially resulting in a return of capital. Notably, a significant portion of distributions may constitute a return of capital, indicating that the Fund has distributed more than its earnings year-to-date. This practice should not be seen as a reflection of the Fund's performance.

The Boards of Trustees of the Virtus Stone Harbor Emerging Markets Income Fund (NYSE: EDF) and Virtus Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI) have approved the reorganization of EDI into EDF. The surviving fund will retain the EDF ticker symbol. Shareholders of EDF will vote on May 22, 2023, to approve the issuance of additional shares for this tax-free reorganization. This decision aims to create a larger fund with economies of scale, potentially lowering trading costs and annual operating expenses. A proxy statement will be sent to EDF shareholders by March 31, 2023, detailing the proposal and related risks.