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Virtus Investment Partners (NASDAQ: VRTS) announced a quarterly cash dividend of $1.50 per common share for Q1 2022. This dividend will be payable on May 13, 2022 to shareholders of record as of the close of business on April 29, 2022. Future dividends will require Board approval. The company operates a multi-boutique asset management business, focusing on the success of both individual and institutional investors.
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced a monthly distribution of $0.15 per share, with an ex-date of February 10, 2022, record date February 11, 2022, and payment date March 1, 2022. Under its Managed Distribution Plan, the fund aims to maintain consistent distributions, possibly using capital returns if net investment income falls short. As of January 31, 2022, the five-year average annual total return on NAV was 23.33%, and the current fiscal YTD annualized distribution rate is 7.44%.
Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, payable on March 1, 2022. The ex-date is February 10, 2022, and the record date is February 11, 2022. This distribution is part of the Fund's Managed Distribution Plan, with $0.005 from net investment income and $0.175 from net realized short-term capital gains. The estimated fiscal year-to-date annualized distribution rate is 7.93%, while the cumulative total return on NAV is -2.32%.
On February 9, 2022, Virtus Investment Partners reported preliminary assets under management (AUM) of $188.9 billion as of January 31, 2022, reflecting a growth from $187.2 billion at the end of December 2021. The report highlighted contributions from various product types, with Open-End Funds at $75.4 billion, Closed-End Funds at $11.7 billion, and Institutional Accounts rising to $55.1 billion. Additionally, the company manages $3.5 billion of other fee-earning assets, which are not included in AUM calculations.
Virtus Investment Partners (NASDAQ: VRTS) reported a 55% increase in revenues to $266.3 million for the quarter ending December 31, 2021, compared to $171.6 million a year prior. Operating income rose 64% to $83.7 million, with an operating margin of 31.4%. However, net income attributable to the company was down 15% sequentially to $49.8 million, or $6.29 per diluted share. The firm also reported total assets under management at $187.2 billion, a 6% increase from the previous quarter. The acquisition of Westchester Capital significantly contributed to its growth.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, payable on February 18, 2022. The distribution will be sourced from net investment income (16.3%), net realized short-term capital gains (47.0%), and a return of capital (36.7%). The Fund warns that the distribution may exceed its income and realized gains, indicating that some funds may be a return of capital rather than investment performance. As of January 31, 2022, the Fund's average annual total return on NAV over the last five years is 6.95%.
Virtus Investment Partners, Inc. (NASDAQ: VRTS) will release its fourth quarter 2021 financial results on February 4, 2022, before the market opens. Following this, a conference call will take place at 10:00 a.m. Eastern with CEO George R. Aylward and CFO Michael A. Angerthal. Investors can access the call via virtus.com or by phone. A replay will be available until February 11, 2022. This announcement reflects Virtus' ongoing commitment to transparency and engagement with investors.
On January 18, 2022, the Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced a managed distribution plan, increasing its monthly distribution rate to $0.18 per share, effective from the upcoming monthly distribution. The ex-date for this distribution is January 12, 2022 and the payable date is February 1, 2022. The fund aims to maintain a consistent distribution level, which may be partially sourced from shareholder capital if net investment income and realized gains are insufficient. Key distribution estimates for January indicate that net realized short-term capital gains account for the full distribution amount.
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (AIO) announced a managed distribution plan, increasing its monthly distribution rate to $0.15 per share, effective February 1, 2022. The plan aims for a stable income stream, funded through net investment income and realized capital gains. However, if these sources are insufficient, distributions will come from the Fund's assets, potentially returning capital to shareholders. As of December 31, 2021, the fund reported a 5-year average annual total return of 29.74% and a year-to-date cumulative total return of 7.64%.
Virtus Investment Partners (NASDAQ: VRTS) announced preliminary assets under management (AUM) at $187.2 billion as of December 31, 2021, an increase attributed to market performance and the addition of Westchester Capital Management assets. Net flows for Q4 2021 were nearly breakeven, with positive contributions from retail separate accounts, institutional, and ETFs, countered by outflows from open-end funds. Additionally, the company managed $3.8 billion in other fee-earning assets not included in AUM.
