Virtus Investment Partners, Inc. - VRTS STOCK NEWS

Virtus Investment Partners (NASDAQ: VRTS) has declared a quarterly cash dividend of $0.82 per common share for Q4 2020. This dividend will be paid on February 12, 2021, to shareholders on record by January 29, 2021. The company's Board of Directors retains the authority for future dividend declarations, which reflects its ongoing commitment to shareholder returns. As part of its multi-boutique asset management approach, Virtus emphasizes long-term success for both individual and institutional investors.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share on December 10, 2020. The fund aims to maintain steady distributions, potentially funded partially by net investment income and capital gains. Shareholders should be aware that if the fund's income and gains are insufficient, the shortfall will be sourced from its assets, representing a return of capital. As of November 2020, approximately 58.6% of the distribution is anticipated to be a return of capital, reflecting a potential decrease in actual investment performance.

On December 2, 2020, the Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share, payable on December 18, 2020. The Fund's Managed Distribution Plan aims to maintain consistent distribution levels, which may include returns of capital when net earnings are insufficient. The estimated distribution sources indicate that 54.9% of the November distribution represents a return of capital. The Fund's fiscal year-to-date annualized distribution rate is 9.56%, highlighting its focus on maximizing current income while preserving capital.

On November 23, 2020, DTF Tax-Free Income authorized a cash tender offer for up to 17.5% of its outstanding shares. This action is part of a strategy to address the current trading discount of the Fund's market price relative to its net asset value. Additionally, the Board proposed converting the Fund from a perpetual existence to a 7-year term, pending shareholder approval. These moves are linked to a standstill agreement with significant shareholder Karpus Management. Further details on the tender offer will be announced later.

Virtus Investment Partners (NASDAQ: VRTS) has launched the Virtus SGA New Leaders Growth Fund, managed by Sustainable Growth Advisers (SGA). The fund targets high-quality mid-cap companies globally with the potential for sustainable growth. It will maintain a concentrated portfolio of approximately 25-35 companies, benchmarked to the MSCI ACWI Mid Cap Index. SGA's investment philosophy emphasizes quality, growth, and valuation, aiming for long-term capital appreciation. This fund marks the fourth collaboration with SGA, enhancing Virtus's diverse investment offerings.

Virtus Investment Partners reported preliminary assets under management (AUM) totaling $116.6 billion as of October 31, 2020, including $1.4 billion in liquidity assets. Long-term AUM reached $115.2 billion, reflecting growth across various fund types. Notable figures include $43.6 billion in open-end funds and $25.2 billion in retail separate accounts. Compared to September 30, 2020, total AUM increased marginally from $116.5 billion.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08, payable on November 19, 2020. The fund's Managed Distribution Plan aims to maintain consistent distribution levels, which may include returns from net investment income and realized capital gains. Shareholders are informed that distributions may include a return of capital if net income and gains are insufficient. For October 2020, 11.3% of the distribution came from net investment income, while 88.7% was a return of capital. The fund’s current fiscal year-to-date annualized distribution rate is 11.05%. VRTS is the ticker symbol for the parent company.

Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10, payable on November 19, 2020. The distribution, under its Managed Distribution Plan, aims to maintain consistent levels, potentially funded by net investment income and realized capital gains. Notably, the Fund has indicated that it has distributed more than its income and capital gains, implying a portion may be a return of capital. The estimated breakdown shows net investment income accounts for 46.1% of the current distribution, while return of capital constitutes 53.9%.

The Board of Directors of DTF Tax-Free Income announced the successful placement of $65 million in Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTPs).

The proceeds will be used for the early redemption of $65 million in Variable Rate MuniFund Term Preferred Shares (VMTPs) scheduled for January 31, 2021. The redemption will occur on November 12, 2020, at 100% of their liquidation preference along with accrued dividends.

The RVMTPs will provide leverage for the fund's common shareholders, paying variable rate dividends set weekly.