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Virtus Investment Partners, Inc. reports developments for a multi-boutique asset management business serving individual and institutional clients. News commonly covers assets under management, sales and net flows across open-end funds, closed-end funds, retail separate accounts and institutional accounts, as well as asset-class trends in equity, fixed income, multi-asset and alternatives strategies.
The company also announces product activity through Virtus ETF Solutions, including actively managed exchange-traded funds managed by affiliated or selected investment managers such as Silvant Capital Management and Duff & Phelps Investment Management. Related updates include earnings releases, non-GAAP performance measures, closed-end fund distribution notices, and investment strategies offered through Virtus-affiliated advisers and subadvisers.
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Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) announced that Ellen Elberfeld, CFA, will retire as co-portfolio manager effective May 5, 2023. Eric Elvekrog, current Chief Investment Officer, will take over as the sole portfolio manager. David D. Grumhaus, Jr., President and CEO, expressed regret over Elberfeld's departure but noted confidence in Elvekrog's capabilities, having been a part of the fund's management since its inception in 2011. The fund aims to achieve total return by focusing on high current income and growth, primarily investing in dividend-paying equities in the utility and infrastructure sectors.
Virtus Investment Partners has announced the addition of Andrew Pon and Macalla Rogers to its Global Listed Infrastructure team as research analysts. Pon will focus on the utilities sector while Rogers will support the transportation and midstream energy sectors. This move comes as a strategic enhancement of the firm's research capabilities in essential services that consistently perform well during various economic conditions.
Previously, Pon held positions at Foundry Brands and Causeway Capital Management, and Rogers worked with Stifel Financial Corp. and BMO Global Asset Management. This strengthening of expertise aims to enhance client outcomes across the investment strategies offered, including those available in the Virtus Duff & Phelps Global Infrastructure Fund.
Virtus Investment Partners has appointed Nicholas Holmes, CFA, as portfolio manager for their water strategy. Holmes will work alongside existing team members to manage the Virtus Duff & Phelps Water Fund. With a focus on environmental sustainability, Holmes brings extensive expertise in water sector investments, having previously co-managed a global water strategy at TortoiseEcofin. As of March 31, 2023, Duff & Phelps manages $675 million in water assets, highlighting its commitment to this niche market. Holmes emphasized the firm's strong legacy in investing in real assets and its sustainability focus as key factors in his decision to join.