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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 (NASDAQ: VRTS) announced a preliminary total assets under management (AUM) of $178.6 billion as of June 30, 2021. This represents a notable increase from $175.5 billion on March 31, 2021, attributed to market appreciation and positive net flows across various accounts including retail separate accounts, institutional accounts, and ETFs. The company also manages $3.8 billion in other fee-earning assets not included in AUM figures.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 to be paid on July 19, 2021. The distribution will be sourced from net investment income and realized capital gains; however, it may include a return of capital if the fund's earnings are insufficient. For June 2021, the fund's net investment income was $0.043 per share, making up 53.7% of the distribution. The fund reported a 5.40% average annual total return over five years, with a current fiscal year-to-date annualized distribution rate of 7.83%.
Virtus Investment Partners has announced an agreement to acquire 100% of Stone Harbor Investment Partners. The acquisition, expected to complete by the end of 2021, will not change the current personnel managing the Stone Harbor Emerging Markets Income Fund (NYSE: EDF) or Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI). Both funds aim to maximize total return through investments in emerging markets securities, although there is no guarantee of achieving these objectives.
Virtus Investment Partners (NASDAQ: VRTS) has announced the acquisition of Stone Harbor Investment Partners, the investment manager for Stone Harbor Emerging Markets Income Fund (NYSE: EDF) and Stone Harbor Emerging Markets Total Income Fund (NYSE: EDI). The acquisition is expected to conclude by the end of 2021, with no changes to current management of the funds. Both funds aim to maximize total returns through investments in emerging market securities; however, achieving these objectives is not guaranteed.
The merger of Duff & Phelps Select MLP and Midstream Energy Fund (DSE) into Virtus Duff & Phelps Select MLP and Energy Fund (VLPIX) was completed on June 25, 2021. Shareholders of DSE received 1.080565 shares of VLPIX for each share of DSE they held, based on the respective net asset values of $9.4704 for DSE and $8.7643 for VLPIX. The merged fund, now an open-end fund, continues to operate under the ticker VLPIX.
Investors are advised to consider the fund's investment objectives and risks before proceeding.
Virtus Investment Partners (NASDAQ: VRTS) announced on June 28, 2021, its agreement to acquire Stone Harbor Investment Partners LP, a firm managing $15.4 billion in assets focused on emerging markets debt and multi-asset credit. The acquisition aims to enhance Virtus' investment capabilities and expand its global institutional client base. Stone Harbor will retain its brand and investment autonomy while benefiting from Virtus' resources. The deal is expected to close by year-end and is projected to be modestly accretive to earnings per share.
Virtus Investment Partners (NASDAQ: VRTS) has launched the Virtus KAR Developing Markets Fund, managed by Hyung Kim and Craig Thrasher, offering investors access to a concentrated portfolio of 30-60 high-quality companies in developing market countries. The fund aims to capitalize on growth opportunities in emerging economies, focusing on firms with sustainable competitive advantages and strong management. With $56.3 billion in assets under management as of March 31, 2021, Kayne Anderson Rudnick, the affiliated manager, emphasizes their commitment to rigorous research and performance in equity investing.
DNP Select Income Fund announced a dividend of 6.5 cents per share for multiple dates including July 29, August 30, and September 29, 2021. This distribution is part of its Managed Distribution Plan established in 2007, aimed at providing consistent income to shareholders. For fiscal year-to-date, the total distribution per share stands at $0.455, with net investment income contributing 30% of distributions. The fund's current annualized distribution rate is 8.00% of NAV, with expected returns from long-term capital gains and return of capital if needed.
DTF Tax-Free Income Inc. (NYSE: DTF) has announced a dividend payment of 4.0 cents per share for three upcoming periods. The ex-dividend date for the first payment is July 14, 2021, with a record date of July 15, 2021 and a payable date of July 30, 2021. Subsequent dividends will follow on August 13 and September 14, 2021. The Fund aims to provide current income exempt from regular federal income tax through a diversified portfolio of tax-exempt obligations.
The Board of Directors of Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) announced a dividend of 35 cents per share, payable on September 30, 2021. The fund operates under a Managed Distribution Plan, distributing all available investment income while maintaining the current rate. If necessary, capital gains or return of capital will supplement income shortfalls. The fund's year-to-date distribution reflects that 100% comes from return of capital, signaling a potential risk to sustainability.
