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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 AllianzGI Convertible & Income Fund (NYSE: NCV) announced a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on September 30, 2021. The record date for this payment is September 13, 2021. The Series A shares, rated 'A' by Fitch, have an annual dividend rate of $1.40625 and were issued at $25.00 per share. Additionally, these shares will be callable after a five-year period ending September 20, 2023. Distributions' actual amounts may vary based on the fund's investment performance.
Virtus AllianzGI Convertible & Income Fund II (NCZ) announced a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on September 30, 2021. Shareholders of record as of September 13, 2021 will receive this payment. The Series A preferred shares have an annual dividend rate of $1.375 and were issued at $25.00 per share. These shares will be callable after September 11, 2023. The actual distribution amounts may vary based on fund performance and tax regulations.
Virtus Investment Partners (NASDAQ: VRTS) has announced an impressive 83% increase in its quarterly cash dividend, raising it to $1.50 per share from $0.82. This marks the fourth consecutive year of dividend increases. The new dividend will be paid on November 12, 2021, to shareholders of record by October 29, 2021. CEO George R. Aylward credited the company's strong balance sheet and cash flow generation as key factors supporting this increase, which reflects their commitment to returning capital and investing in growth.
Virtus Investment Partners reported preliminary total assets under management (AUM) of $180.3 billion as of July 31, 2021. The company also managed $3.8 billion of fee-earning assets not included in AUM. AUM by product type includes $75.1 billion from open-end funds, $12.1 billion from closed-end funds, and $41.5 billion from retail separate accounts. Total AUM increased from $178.6 billion in June 2021, reflecting strong investment performance and inflows.
Virtus Investment Partners (NASDAQ: VRTS) has launched the Virtus KAR Small-Mid Cap Value Fund, which focuses on investing in undervalued small- and mid-cap U.S. companies. Managed by Julie Kutasov and Craig Stone of Kayne Anderson Rudnick, the fund aims for attractive long-term returns through a selective portfolio of 25-35 high-quality stocks. The strategy emphasizes companies with strong balance sheets and competitive advantages, distinguishing it from typical value investments. As of June 30, 2021, Kayne Anderson Rudnick managed $61.2 billion in assets.
On August 4, 2021, Virtus Investment Partners (NASDAQ: VRTS) and Duff & Phelps Investment Management announced the launch of the Virtus Duff & Phelps Clean Energy ETF (NYSE: VCLN). This actively managed ETF aims to deliver attractive total returns by investing in clean and renewable energy companies worldwide. David Grumhaus, Jr., President and CIO of Duff & Phelps, highlighted the ETF's focus on leading market innovators in the sector. As of June 30, 2021, Duff & Phelps managed $11.4 billion in assets, emphasizing their depth of resources and expertise in energy investing.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, payable on August 19, 2021. The Fund's Managed Distribution Plan aims to maintain consistent distribution levels funded partly by net investment income and realized capital gains. Notably, a significant portion of the distribution, 78.3% for July 2021, is estimated to be a return of capital. The Fund reported a current fiscal year-to-date annualized distribution rate of 10.25% and a fiscal YTD cumulative total return on NAV of 7.94%. Shareholders are advised that returns of capital do not reflect the Fund's investment performance.
On August 3, 2021, Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 per share set for August 19, 2021. This distribution is part of the Fund's Managed Distribution Plan, which may include returns of capital when net investment income and capital gains are insufficient. For July 2021, net investment income contributed 56.1% of the distribution, while 43.9% was a return of capital. The Fund has estimated total distributions exceeding income, indicating potential capital return to shareholders.
Virtus Investment Partners reported strong Q2 2021 results with revenues at $244 million, an 84% increase year-over-year and a 12% rise from Q1. Net income soared 458% to $63 million, resulting in earnings per share of $7.86. Operating income rose 225% to $86.4 million, achieving a margin of 35.4%. However, net flows decreased 54% to $1.3 billion compared to $2.8 billion last year. The company’s total assets under management grew 6% to $178.6 billion, supported by market performance and net flows. Additionally, Virtus announced an agreement to acquire Stone Harbor Investment Partners.
Virtus Investment Partners, Inc. (NASDAQ: VRTS) will release its second-quarter 2021 financial results on July 28, 2021, before the market opens. A conference call will follow at 10:00 a.m. Eastern, hosted by CEO George R. Aylward and CFO Michael A. Angerthal. The conference call is accessible via a webcast or by phone. A replay will be available until August 4, 2021.
