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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.
On December 17, 2020, DTF Tax-Free Income Inc. (NYSE: DTF) announced a series of dividend payments for its common stock. The dividends are set at 4.0 cents per share with the following key dates: Ex-Dividend Dates on January 14, February 12, and March 12, 2021; Record Dates on January 15, February 16, and March 15, 2021; and Payable Dates on January 29, February 26, and March 31, 2021. The fund aims to provide current income exempt from federal income tax while preserving capital through investments in a diversified portfolio of investment-grade tax-exempt obligations.
The Board of Directors of Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) has declared a quarterly dividend of $0.35 per share. The ex-dividend date is March 12, 2021, with record date on March 15, 2021, and payable date set for March 31, 2021. Since adopting a Managed Distribution Plan in 2015, the fund has aimed to maintain this distribution rate by utilizing available investment income. Notably, in December 2020, the fund's cumulative distribution for the fiscal year was reported at 10.73% on net asset value (NAV), indicating a strong focus on providing tax-advantaged dividend income.
Virtus Investment Partners reported preliminary total assets under management (AUM) of $126.1 billion as of November 30, 2020, including $1.5 billion in liquidity assets. Its long-term AUM reached $124.5 billion, showing an increase from $115.2 billion reported in October 2020. Open-end funds contributed $47.4 billion to long-term AUM, up from $43.6 billion the previous month. Institutional accounts also saw growth, reaching $38.5 billion, compared to $36.1 billion in October.
On December 8, 2020, DTF Tax-Free Income Inc. (NYSE: DTF) announced a cash tender offer for up to 17.5% of its outstanding common stock at 98% of the net asset value (NAV) per share. This offer will expire on January 7, 2021, unless extended. The fund will repurchase shares on a pro rata basis if oversubscribed. DTF Tax-Free Income Inc. aims to provide current income exempt from regular federal tax through a diversified portfolio of investment-grade tax-exempt securities. Shareholders are advised to read the full Offer to Purchase before participating.
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.
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