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Virtus Investment Partners, Inc. (Nasdaq: VRTS) is a premier investment management firm dedicated to providing high-quality investment products and services to both individuals and institutions. Known for its integrity, quality, and strength, the company operates on a multi-manager model that encompasses several affiliated managers, each with distinct investment styles and autonomous processes. This structure allows Virtus to offer a wide array of investment options, including open-end mutual funds, closed-end funds, exchange-traded funds (ETFs), and variable insurance funds.
The company's core business revolves around generating revenue through investment management fees, distribution and service fees, and administration and shareholder service fees. Headquartered in the United States, Virtus serves clients nationwide, building lasting partnerships and ensuring their success as investors. The firm places a strong emphasis on client responsibility and is committed to delivering exceptional value.
Recent Achievements and Current Projects:
- Virtus has expanded its suite of investment products to include more ESG (Environmental, Social, and Governance) focused funds, reflecting a growing investor demand for responsible and sustainable investing options.
- The firm has also undertaken significant digital transformation projects aimed at enhancing the client experience through cutting-edge technology and user-friendly platforms.
Financial Condition:
Virtus Investment Partners has shown robust financial performance, evidenced by consistent growth in assets under management (AUM) and a strong balance sheet. The company’s revenue streams are well-diversified, providing a stable financial foundation and resilience against market fluctuations.
Partnerships:
The company collaborates with a variety of financial institutions and advisory firms to broaden its reach and improve service offerings. These partnerships enable Virtus to deliver specialized investment solutions and maintain a competitive edge in the asset management industry.
Virtus Investment Partners continues to adapt to market trends and economic conditions, ensuring that they remain a trusted partner for investors seeking comprehensive investment strategies and superior portfolio management.
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Virtus Investment Partners (NASDAQ: VRTS) reported Q3 2020 financial results with revenues of $154.8 million, a 6% increase year-over-year. Operating income rose 15% to $41.0 million, and net income attributable to common stockholders surged 35% to $29.6 million, translating to $3.71 per diluted share. Assets under management increased 12% to $115.0 billion, driven by market appreciation and net flows of $1.2 billion. The gross debt was reduced by 26% to $223.2 million, while a dividend of $0.82 per share was declared, marking a 22% increase from the previous quarter.
Virtus Investment Partners (NASDAQ: VRTS) will release its third-quarter 2020 financial results on October 23, 2020, prior to market open. A conference call for investors will take place at 10:00 a.m. Eastern, featuring CEO George R. Aylward and CFO Michael A. Angerthal. The call can be accessed via a webcast or by phone. A replay will be available until October 30, 2020. The firm is known for its multi-manager asset management strategy and offers a broad range of investment products through various affiliated managers.
Virtus Investment Partners reported preliminary assets under management (AUM) as of September 30, 2020, totaling $116.5 billion, including $1.5 billion in liquidity assets. Long-term AUM increased to $115.0 billion, driven by market appreciation and favorable net inflows in retail separate accounts, mutual funds, and ETFs, despite some outflows in other products. Notable figures include $43.4 billion in open-end funds and $5.6 billion in closed-end funds. The report reflects a robust investment performance during the quarter.
On October 5, 2020, Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share. The ex-date is set for October 9, 2020, with a record date of October 13 and payable date of October 20. Under its Managed Distribution Plan, a portion of this distribution may come from return of capital, indicating that some of the money invested may be returned to shareholders. The fund estimates that 54.9% of the distribution will be a return of capital for September 2020.
On October 5, 2020, Virtus Total Return Fund (NYSE: ZTR) announced a monthly distribution of $0.08 per share. The ex-dividend date is October 9, with the record date on October 13 and payment on October 20. Under its Managed Distribution Plan, the Fund may pay distributions from net investment income and realized capital gains; however, if these are insufficient, it may draw from its assets, which could result in a return of capital. In September 2020, 33.2% of the distribution came from net investment income, while 66.8% was a return of capital. The Fund has a fiscal YTD cumulative distribution rate of 11.37%.
The Board of Directors of DNP Select Income Fund (NYSE: DNP) has approved a dividend payment of 6.5 cents per share. The dividends will be distributed four times: on November 10, 2020, December 10, 2020, and additional payments scheduled for October 30, 2020 and November 30, 2020. The Fund follows a Managed Distribution Plan to maintain this distribution rate. In 2020, 67% of the current distribution comes from a return of capital, while only 29% derives from net investment income, raising sustainability concerns.
On September 16, 2020, Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) announced a dividend of $0.35 per share, with an ex-date of December 14, 2020 and payable date of December 31, 2020. The fund operates under a Managed Distribution Plan, which aims to provide consistent dividends, potentially funded through capital gains or return of capital when necessary. The fund's total return on NAV for the fiscal year stands at -15.27%, while the current annualized distribution rate is 10.95% of NAV.
Virtus Investment Partners (NASDAQ: VRTS) reported preliminary assets under management (AUM) as of August 31, 2020, totaling $118.2 billion, which includes $1.4 billion in liquidity assets. This marks an increase from $114.1 billion in July 2020. Long-term AUM reached $116.8 billion, up from $112.7 billion the previous month. Notable contributions come from open-end funds at $43.8 billion and retail separate accounts at $24.7 billion. This growth underscores the firm's strong position in the investment management sector.
Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced its monthly distributions of $0.10 for October and November 2020. The fund's distributions are part of its Managed Distribution Plan, which may involve returns of capital if net investment income and realized capital gains are insufficient. In July 2020, net investment income accounted for 48.5% of distributions, while returns of capital amounted to 51.5%. The fund's average annual total return on NAV for the past five years is 5.06%, and its current fiscal YTD annualized distribution rate is 9.72%.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 on August 28, 2020. The distributions are scheduled for October 20 and November 19, 2020. The fund's Managed Distribution Plan aims to maintain consistent levels, potentially funded by net investment income, capital gains, or fund assets, which may lead to a return of capital to shareholders. The fund estimated a return of capital comprising 70.8% of the July distribution, with a fiscal year-to-date cumulative total return on NAV at -3.93% and an annualized distribution rate of 10.65%.
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