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Virtus Investment Partners Inc (VRTS) delivers asset management solutions through its distinctive multi-manager approach. This page provides authorized news updates and press releases directly from the company, offering investors and analysts a trusted source for tracking strategic developments.
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Virtus Investment Partners reported preliminary assets under management of $170.9 billion as of April 30, 2022. This figure marks a decline from $183.3 billion reported on March 31, 2022. Additionally, the company oversees $3.2 billion of other fee-earning assets not included in the total. The breakdown of assets shows that open-end funds accounted for $67.3 billion, while institutional accounts contributed $53.8 billion. This decrease in overall AUM may raise concerns among investors regarding the firm's ability to attract and retain capital.
The Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 on May 19, 2022. The ex-date is set for May 11, 2022, and the record date is May 12, 2022. Notably, the Fund's Managed Distribution Plan may involve distributions from net investment income or capital gains. However, excess distributions may return shareholder capital, not indicating Fund performance. The Fund has estimated that over 53.5% of distributions may be a return of capital for April 2022. Current fiscal year-to-date annualized distribution rate stands at 11.01%.
Virtus Investment Partners (NASDAQ: VRTS) reported Q1 2022 financial results, revealing total sales of $9.4B, a 16% increase from Q1 2021. However, net income fell 10% to $33.1M, while EPS decreased to $4.22. Total assets under management stood at $183.3B, down 2% from Q4 2021. Despite positive net flows in institutional and retail accounts, overall net flows were negative at ($2.0B) due to outflows from open-end funds. Adjusted EPS was $7.87, down 24% from the previous quarter.
The Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (AIO) announced a monthly distribution of $0.15, with an ex-date of April 8, 2022, a record date of April 11, 2022, and a payable date of May 2, 2022. The distribution may derive from net investment income and realized capital gains. If these are insufficient, the shortfall will be sourced from the Fund's assets, potentially indicating a return of capital. For fiscal year-to-date, the annualized distribution rate is 7.53%, and the cumulative total return on NAV is 0.06%. Performance figures are based on NAV and not market price.
Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18, with an ex-date of April 8, 2022, record date of April 11, 2022, and payable date of May 2, 2022. Under its Managed Distribution Plan, the fund aims to maintain consistent distribution levels funded by net investment income and realized capital gains. However, if earnings fall short, it will draw from assets, impacting shareholder capital. For April 2022, 100% of the distribution comes from net realized short-term capital gains.
Virtus Investment Partners (NASDAQ: VRTS) will release its financial results for Q1 2022 before market opening on April 29, 2022. Following the announcement, a conference call will take place at 10:00 a.m. Eastern, hosted by CEO George R. Aylward and CFO Michael A. Angerthal. Investors can access the call via a webcast or by telephone. A replay will be available until May 6, 2022. The company is known for its multi-manager asset management business, providing diverse investment solutions.
Virtus Investment Partners (NASDAQ: VRTS) announced preliminary assets under management of $183.3 billion as of March 31, 2022, showing a decline from $187.2 billion on December 31, 2021. This decrease is attributed to market depreciation and net outflows in open-end funds, partially offset by a $14.7 billion asset addition from the acquisition of Stone Harbor Investment Partners and positive net flows in institutional and retail separate accounts. Additionally, the company managed $3.5 billion in other fee-earning assets.
Stone Harbor Emerging Markets Income Fund (EDF) announced the removal of its managed distribution plan, effective May 2022, while maintaining a monthly distribution of $0.06 per share. This decision aims to lower fund expenses as the plan is deemed unnecessary. The current distribution rate yields an annualized return of 10.94% based on market price and 12.86% based on net asset value. Effective April 11, 2022, the Fund will trade under the name Virtus Stone Harbor Emerging Markets Income Fund. The share price stands at $6.58, with a net asset value of $5.60.
Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI) will eliminate its managed distribution plan effective May 2022, citing that it is unnecessary at this time. The Fund will maintain its distribution rate at $0.07 per share, reflecting an annualized distribution rate of 11.60% based on the current share price of $7.24. The Fund will commence trading under the name Virtus Stone Harbor Emerging Markets Total Income Fund on April 11, 2022. Additionally, it notes that some distributions may represent a return of capital.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08, effective April 8, 2022. This distribution, part of its Managed Distribution Plan, may include net investment income, realized capital gains, or a return of capital. Shareholders are warned that distributions may exceed the Fund's income, resulting in capital returns. For March 2022, the Fund reported a 10.38% current fiscal YTD annualized distribution rate and a 7.44% cumulative total return on NAV.
