Virtus Investment Partners, Inc. - VRTS STOCK NEWS

Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 for December 2022, January 2023, and February 2023. The fund operates under a Managed Distribution Plan, potentially distributing amounts from net investment income, capital gains, or Fund assets. Notably, the Fund has indicated distributions may include a return of capital, implying that some returns may not reflect investment performance. For October 2022, the average annual total return on NAV over five years stood at 0.91%, with a fiscal year-to-date annualized distribution rate of 13.81%.

Virtus Investment Partners reported preliminary assets under management of $149.5 billion as of October 31, 2022, an increase from $144.97 billion in September 2022. The company also manages additional fee-earning assets totaling $2.5 billion. Breakdown by product type reveals open-end funds at $55.39 billion, closed-end funds at $10.46 billion, retail separate accounts at $35.23 billion, and institutional accounts at $48.42 billion, indicating overall growth in managed assets.

Virtus Investment Partners reported Q3 2022 earnings with diluted EPS of $4.25, down 42% year-over-year. Total sales declined 25% to $5.7B, while net outflows reached $3.3B, impacting assets under management, which fell 18% to $145B. Operating income decreased 53% to $44M amidst rising operating expenses, which saw a 5% increase. The company announced an agreement to acquire AlphaSimplex, anticipated to finalize in Q1 2023, potentially enhancing their alternative investment offerings.

Virtus Investment Partners (NASDAQ: VRTS) announced the acquisition of AlphaSimplex Group, LLC, a leading manager of liquid alternative investment solutions, with $10.9 billion in assets under management. This strategic move aims to enhance Virtus's offerings in alternative investment strategies, ensuring continuity for AlphaSimplex’s clients and investment processes. The deal is expected to close by the end of Q1 2023, subject to regulatory approvals. With this acquisition, Virtus will leverage AlphaSimplex’s expertise while maintaining its autonomous operations.

Virtus Investment Partners (NASDAQ: VRTS) announced plans to release its third quarter 2022 financial results on October 26, 2022, prior to market opening. The report will be followed by a conference call hosted by CEO George R. Aylward and CFO Michael A. Angerthal at 10:00 a.m. Eastern. The accompanying presentation will be accessible on the company's website. A replay of the call will be available for a year under the Investor Relations section.

Virtus operates a multi-manager asset management business focused on long-term success for investors.

Virtus Investment Partners reported preliminary assets under management of $145.0 billion as of September 30, 2022, reflecting a decrease from June 30, 2022 due to market depreciation and net outflows in various accounts, partially offset by positive net flows in closed-end funds. The company also managed an additional $2.5 billion in other fee-earning assets not included in the total. The breakdown shows open-end funds at $54.5 billion, closed-end funds at $10.1 billion, retail separate accounts at $33.4 billion, and institutional accounts at $47.0 billion.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a distribution of $0.08 per share, with relevant dates: Ex-Date on October 12, 2022, Record Date on October 13, 2022, and Payable Date on October 20, 2022. Under its Managed Distribution Plan, distributions may come from net investment income, realized capital gains, or other sources. The fund indicated that a portion of this amount may represent a return of capital, with a current fiscal YTD annualized distribution rate of 14.14% and a cumulative total return on NAV of -13.18%.

The DNP Select Income Fund (NYSE: DNP) has announced a dividend of 6.5 cents per share, payable on multiple dates, starting from November 10, 2022. This payment is part of the fund's Managed Distribution Plan adopted in 2007, aimed at maintaining its distribution rate. The total cumulative distribution for the fiscal year is estimated at $0.650 per share. The fund's investment returns show an annualized rate of 7.80% based on NAV, demonstrating a commitment to delivering income and long-term growth.

The Board of Directors of DTF Tax-Free Income 2028 Term Fund has authorized quarterly dividends of 3.25 cents per share. These dividends are scheduled for payment on the following dates: October 31, 2022, November 30, 2022, and December 30, 2022. The ex-dividend dates are set for October 14, November 14, and December 14, 2022, with the record dates on October 17, November 15, and December 15, 2022. The Fund aims to provide current income exempt from federal taxes by investing in a diversified portfolio of investment-grade tax-exempt obligations.