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Overview of Virtus Investment Partners Inc
Virtus Investment Partners Inc (symbol: VRTS) is an established asset management firm that operates on a multi-manager, multi-style basis, providing investment management and related services to both individual and institutional clients. The firm is built on the core Latin principles of integrity, quality, and strength—traits epitomized by the word "virtus." These timeless attributes underscore every aspect of its business, reflecting not only the company’s ethos but also its commitment to delivering diversified investment solutions that cater to a broad client base.
Business Model and Investment Approach
The company employs an innovative multi-manager model, where a collection of affiliated managers, each maintaining a distinct investment style and autonomous process, operate under individual brands. This structure allows the firm to offer a diverse array of investment strategies that can address various market conditions, client risk profiles, and investment objectives. In addition, Virtus Investment Partners supplements its portfolio with select unaffiliated investment managers to further broaden its product offerings. The multi-style approach enables clients to access a wide spectrum of investment philosophies while benefiting from centralized distribution, operational support, and risk management solutions.
Industry Position and Core Services
Operating in the competitive asset management industry, Virtus Investment Partners Inc offers a comprehensive suite of services that are designed to meet the evolving needs of investors. The firm's expertise spans across structured investment management, portfolio development, and advisory services that cater to institutional investors – such as pensions and endowments – as well as high net-worth individuals. The company excels in balancing diverse investment strategies with robust support services, thereby allowing its affiliated managers to maintain their unique styles while benefiting from group efficiencies. This robust operational framework and strategic collaboration enhance both the client experience and the overall market relevance of the firm's investment solutions.
Operational Excellence and Client-Centric Philosophy
At the heart of Virtus Investment Partners is a deeply ingrained commitment to client success. The company takes its fiduciary responsibilities seriously, ensuring that every investment decision is made with the utmost diligence, backed by rigorous analytical processes and a dedication to transparency. This client-centric philosophy manifests in carefully designed investment products, consistent performance tracking, and thorough risk assessment strategies. Clients appreciate the firm’s clear communication, comprehensive support, and the seamless integration of varied investment perspectives into a unified, strategic framework.
Competitive Landscape and Differentiators
In a market characterized by rapid change and intense competition, Virtus Investment Partners distinguishes itself through its consolidated yet diverse management approach. The firm’s ability to blend the strengths of multiple independent managers with a centralized support infrastructure creates a unique value proposition. By integrating diverse investment mandates under one roof, the company effectively mitigates concentrated risks while offering bespoke strategies tailored to the needs of different investor segments. This distinctive model not only optimizes performance outcomes but also fosters innovation and adaptability, elements that are crucial in today’s dynamic financial landscape.
Commitment to Excellence
Virtus Investment Partners Inc remains dedicated to both preserving and enhancing its foundational values of integrity, quality, and strength. These core traits underpin all aspects of its operations, from the autonomy of its investment managers to the support structures that facilitate optimal decision-making. This commitment is evident in the firm’s methodical approach to asset management, rigorous analytical frameworks, and steadfast focus on client interests. Investors can view this as a testament to the company’s seasoned expertise and its prominent role within the asset management community.
Conclusion
In summary, Virtus Investment Partners Inc offers a multi-faceted investment management solution that combines independent investment styles with centralized support and operational excellence. Serving both individual and institutional investors, the firm leverages its multi-manager model to provide flexibility, diversity, and a client-centric approach in managing diverse investment portfolios. Its unwavering dedication to the principles of integrity, quality, and strength continues to position it as a respected player in the competitive world of asset management.
Virtus Investment Partners (NASDAQ: VRTS) announced its agreement to acquire Westchester Capital Management, a firm managing approximately $4.3 billion in assets, including $3.6 billion in The Merger Fund. The acquisition aims to enhance Virtus’ portfolio with non-correlated investment strategies focusing on mergers, acquisitions, and corporate reorganizations. Key personnel from Westchester will continue their roles post-acquisition, reinvesting a portion of the proceeds into their strategies. The transaction is expected to close in the second half of 2021, pending customary approvals.
Virtus Investment Partners (NASDAQ: VRTS) has completed its strategic partnership with Allianz Global Investors, gaining client approvals to manage $29.3 billion in assets and an additional $3.6 billion of fee-earning assets. Through this partnership, Virtus expands its offerings with 25 open-end mutual funds, 7 closed-end funds, and a variety of retail separate accounts in diverse investment strategies. NFJ Investment Group, now affiliated with Virtus, manages $8.2 billion in global value equity strategies, utilizing a disciplined value-oriented approach.
DNP Select Income Fund Inc. (DNP) provided answers to shareholder questions regarding its proposed merger with Duff & Phelps Utility and Corporate Bond Trust Inc. (DUC) on January 29, 2021. Notably, shareholders are not required to vote on the merger. DNP aims to achieve long-term income growth through a diversified portfolio, particularly in public utilities. The fund is advised by Duff & Phelps Investment Management, a subsidiary of Virtus Investment Partners (VRTS), managing $116.5 billion in assets as of September 30, 2020.
Virtus Investment Partners (NASDAQ: VRTS) will announce its fourth-quarter 2020 financial results on February 2, 2021, before the market opens. A conference call with key executives, including CEO George R. Aylward and CFO Michael A. Angerthal, is scheduled for 10:00 a.m. Eastern. Investors can access the call via webcast or telephone. A replay will be available until February 9, 2021. This conference call is a key opportunity for investors to gain insights into the company's performance and outlook.
Virtus Investment Partners reported preliminary assets under management (AUM) as of December 31, 2020, totaling $132.2 billion, an increase from $126.068 billion in November 2020. Long-term AUM reached $130.7 billion, driven by market appreciation and positive net flows, including inflows in retail separate accounts and exchange traded funds. The company reported liquidity assets of $1.5 billion. Overall, the figures indicate robust growth and a diversified product offering amidst the investment landscape.
DTF Tax-Free Income Inc. (NYSE: DTF) announced the final results of its recent issuer tender offer for up to 17.5% of its outstanding shares at 98% of the Fund's net asset value (NAV) as of January 8, 2021. The offer expired on January 7, 2021, with 4,335,961 shares tendered, exceeding the 1,491,119 shares available, resulting in an oversubscription. The proration factor for the offer is 34.39%, with the purchase price set at $15.77 per share. Payment for the tendered shares is expected on January 11, 2021.
DTF Tax-Free Income Inc. announced the preliminary results of its tender offer for 17.5% of its outstanding shares at 98% of the net asset value (NAV) as of January 8, 2021. The offer expired on January 7, 2021, with approximately 4,335,961 shares tendered, exceeding the 1,491,119 shares available, resulting in an oversubscription. Shares will be purchased on a pro rata basis, with payments expected around January 11, 2021. The Fund aims to provide tax-exempt income and is managed by Duff & Phelps Investment Management. Virtus Investment Partners, with $116.5 billion under management, is the parent company.
On January 4, 2021, Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share. The distribution is set for payment on January 11, 2021, following a record date of December 31, 2020, and an ex-date of January 6, 2021. Under its Managed Distribution Plan, the fund aims to maintain a constant distribution level, which may include returns of shareholder capital if net investment income falls short. The fund's December 2020 distribution was comprised of 34.1% net investment income and 65.9% return of capital.
DNP Select Income Fund (NYSE: DNP) announced a monthly dividend of 6.5 cents per share, payable on February 10, 2021, as part of its Managed Distribution Plan established in 2007. The Plan aims to maintain this distribution rate by utilizing available investment income or long-term capital gains when necessary. In the fiscal year-to-date, the Fund's cumulative total return on NAV is -10.57%, with an annualized distribution rate of 9.03% of NAV. Investors are advised that these distribution amounts are estimates and may change as the fiscal year progresses.
DTF Tax-Free Income Inc. (NYSE: DTF) announced a special taxable distribution of $0.000160 per share to be paid on January 11, 2021. Shareholders of record on December 31, 2020 will receive this distribution, with the ex-dividend date set for December 30, 2020. The fund primarily invests in a diversified portfolio of investment-grade tax-exempt obligations to provide current income exempt from federal income tax.
Virtus Investment Partners (NASDAQ: VRTS), the parent company, manages assets worth $116.5 billion as of September 30, 2020.
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