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On March 22, 2022, Stone Harbor Emerging Markets Total Income Fund (EDI) and Stone Harbor Emerging Markets Income Fund (EDF) announced the election of a new Board of Trustees and the approval of new investment advisory agreements. Shareholders approved a slate of 12 trustees and new advisory agreements on February 17, 2022. Effective April 8, 2022, the new trustees will take office, and on April 11, 2022, the funds will change their names to Virtus Stone Harbor Emerging Markets Total Income Fund and Virtus Stone Harbor Emerging Markets Income Fund. The funds' investment objectives will remain unchanged.
On March 16, 2022, Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, with an ex-date of March 10 and a payable date of April 1. The Fund's Managed Distribution Plan aims for consistent distribution levels, which may include net investment income and realized capital gains. Notably, if the Fund's income falls short, distributions may come from shareholder capital. The estimated sources of March 2022 distributions indicate zero net investment income, highlighting reliance on capital gains.
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced a monthly distribution of $0.15, with an ex-date of March 10, 2022, record date of March 11, 2022, and payable date of April 1, 2022.
Under its Managed Distribution Plan, the fund's distributions may come from net investment income, realized capital gains, or fund assets, which could represent a return of capital. The fund's fiscal year started February 1, 2022, with a fiscal YTD cumulative total return on NAV at -1.64% and a current fiscal YTD annualized distribution rate of 7.61%.
Virtus Investment Partners reported preliminary assets under management (AUM) of $183.7 billion as of February 28, 2022. This figure reflects a decrease from $188.9 billion at the end of January 2022. Additionally, the company reported $3.5 billion in other fee-earning assets not included in AUM. Notably, open-end funds decreased from $75.4 billion to $73.1 billion, and institutional accounts fell from $55.1 billion to $53.0 billion. These metrics indicate challenges in asset retention and growth.
The Board of Directors of DNP Select Income Fund has announced a consistent dividend payment of 6.5 cents per share for upcoming months, continuing the Managed Distribution Plan initiated in 2007. Key payment dates include May 10, 2022, and June 10, 2022. The estimated distribution for February 2022 is $0.065, with sources including 29% from Net Investment Income and 39% from Net Realized Long-Term Capital Gains. Virtus Investment Partners, the parent company, manages assets worth $187.2 billion.
The Board of Directors of DTF Tax-Free Income 2028 Term Fund (NYSE: DTF) announced the authorization of dividends for its common stock. Shareholders will receive 3.25 cents per share on specified dates: April 29, May 31, and June 30, 2022. The ex-dividend dates are April 14, May 13, and June 14, 2022, while the record dates are April 18, May 16, and June 15, 2022. The Fund aims to provide current income exempt from federal income tax, focusing on a diversified portfolio of investment-grade tax-exempt obligations.
Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced a quarterly distribution of $0.50 with an ex-date of June 10, 2022 and a payable date of June 24, 2022. This distribution may originate from net investment income and realized capital gains but could involve a return of capital if investment income is insufficient. For March 2022, the distribution sources estimate reveals 98.2% from net realized short-term capital gains and 1.8% from net investment income. The fund's current fiscal year-to-date annualized distribution rate is 6.79%.
Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced its monthly distributions of $0.18 for April, May, and June 2022. Under its Managed Distribution Plan, the fund aims to maintain a consistent distribution level, partially sourced from net investment income. Shareholders should be aware that distributions exceeding net income and capital gains will be drawn from the fund's assets, potentially affecting capital. The current fiscal year's annualized distribution rate stands at 8.12%, with a cumulative total return on NAV of -1.71% year-to-date.
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced monthly distributions of $0.15 for April, May, and June 2022. The distributions are part of the Managed Distribution Plan, which may include net investment income and realized capital gains. Shareholders should note that if these earnings fall below the distribution level, funds will be drawn from the Fund's assets, resulting in a return of capital. The average annual total return on NAV over five years is 21.61%, with a current fiscal YTD annualized distribution rate of 7.61%.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) announced a quarterly distribution of $0.245 per share, payable on June 24, 2022. The distribution will be sourced primarily from net realized short-term capital gains (95.1%) and net investment income (4.9%). The ex-date is set for June 10, 2022, with the record date on June 13, 2022. The fund aims for consistent distributions, which may include returns of capital if income is insufficient. Current fiscal year-to-date annualized distribution rate stands at 6.25%, while cumulative total return on NAV reflects -3.98%.
