Virtus Investment Partners, Inc. - VRTS STOCK NEWS

Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $178.1 billion and other fee-earning assets of $2.5 billion, totaling $180.6 billion in client assets as of July 31, 2024. The increase from June 30, 2024, was primarily due to market performance and positive net flows in retail separate accounts, partially offset by net outflows in institutional accounts and open-end funds. Preliminary average AUM for the month was $174.8 billion.

The AUM breakdown by product type shows: Open-End Funds at $56.8 billion, Closed-End Funds at $10.2 billion, Retail Separate Accounts at $48.0 billion, and Institutional Accounts at $63.1 billion. By asset class, Equity leads with $102.9 billion, followed by Fixed Income at $37.4 billion, Multi-Asset at $21.4 billion, and Alternatives at $16.5 billion.

Duff & Phelps Utility and Infrastructure Fund Inc. (NYSE: DPG) has announced its monthly distribution of $0.07 per share, payable on August 12, 2024, to shareholders of record on July 31, 2024. The fund operates under a Managed Distribution Plan, aiming to distribute all available investment income to shareholders. For July 2024, the entire distribution ($0.070 per share) is classified as return of capital.

Year-to-date, 98% of distributions have been return of capital, with only 2% from net investment income. The fund's average annual total return on NAV for the past 5 years is 1.62%, with an annualized current distribution rate of 7.59% of NAV. The cumulative total return on NAV for the fiscal year stands at 18.05%.

Virtus Investment Partners (NYSE: VRTS) reported financial results for Q2 2024. Key highlights include:

- Earnings per share (diluted) of $2.43, adjusted EPS of $6.53
- Total sales of $6.1B, net flows of ($2.6B)
- Assets under management of $173.6B, down 3% from Q1
- Revenues increased 5% year-over-year to $224.4M
- Operating income up 13% year-over-year to $44.2M
- Operating margin improved to 19.7% from 18.3% in Q2 2023

The company saw decreased sales and net outflows in U.S. retail funds and institutional accounts, partially offset by positive flows in retail separate accounts, ETFs, and global funds. Virtus maintained a strong balance sheet with $183M in cash and reduced debt levels.

Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on July 30, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.

Key performance metrics for ACV include:

• 5-year Average Annual Total Return on NAV: 11.31%
• Annualized Current Distribution Rate: 9.97%
• Fiscal YTD Cumulative Total Return on NAV: 8.32%
• Fiscal YTD Cumulative Distribution Rate: 4.16%

Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced its monthly distribution of $0.15 per share, payable on July 30, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. For July 2024, the distribution sources are estimated as 52.6% from net realized short-term capital gains and 47.4% from net realized long-term capital gains.

The fund's fiscal year-to-date distribution includes 0.3% from net investment income, 56.9% from short-term gains, 26.5% from long-term gains, and 16.3% return of capital. AIO's 5-year average annual total return on NAV is 13.60%, with a current annualized distribution rate of 8.18%. The fiscal YTD cumulative total return on NAV is 10.57%, with a cumulative distribution rate of 3.41%.

Virtus Total Return Fund Inc. (NYSE: ZTR) has announced a monthly distribution of $0.05 per share, payable on July 30, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.

Key financial metrics include:

• Average Annual Total Return on NAV (5-year): 2.04%
• Annualized Current Distribution Rate: 9.71%
• Fiscal YTD Cumulative Total Return on NAV: 5.26%
• Fiscal YTD Cumulative Distribution Rate: 5.66%

Shareholders are cautioned that the distribution may not reflect the fund's investment performance and should not be confused with 'yield' or 'income'.

Virtus Investment Partners (NYSE: VRTS) will release its Q2 2024 financial results on Friday, July 26, 2024, before the market opens. CEO George R. Aylward and CFO Michael A. Angerthal will host a conference call and webcast at 10:00 a.m. Eastern to discuss the results. The presentation will be accessible on their website, and a replay of the call will be available in the Investor Relations section for at least one year.

Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $173.6 billion and other fee-earning assets of $2.6 billion, totaling $176.2 billion as of June 30, 2024.

This represents a decrease from the $179.3 billion reported on March 31, 2024, primarily due to market performance and net outflows from institutional accounts and open-end funds, partially mitigated by positive net flows in retail separate accounts.

Preliminary average AUM for the quarter was $175.2 billion. The AUM for different product types includes $55.9 billion in open-end funds, $9.9 billion in closed-end funds, $45.7 billion in retail separate accounts, and $62.1 billion in institutional accounts.

By asset class, the AUM consists of $99.2 billion in equity, $37.0 billion in fixed income, $21.1 billion in multi-asset, and $16.3 billion in alternatives.

Virtus Diversified Income & Convertible Fund (NYSE: ACV) disclosed its Section 19(a) Notice, announcing a monthly distribution of $0.18 per share, payable on June 27, 2024. The fund follows a Managed Distribution Plan to maintain consistent payout levels, derived from net investment income and realized capital gains. If these are insufficient, the difference is made up from the fund's assets, constituting a return of capital. For June 2024, the entire distribution is estimated to be a return of capital. Performance metrics include a 12.33% average annual total return on NAV over five years and a 10.16% annualized current distribution rate. Fiscal YTD cumulative total return on NAV stands at 5.44%, with a fiscal YTD cumulative distribution rate of 3.39%. These figures are based on NAV and not market price and are not intended for tax reporting purposes.