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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.
For important disclaimers and more information, please visit Virtus Social Media Guidelines.
The Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced additional details about its planned liquidation. The final trading day for the Fund on the New York Stock Exchange will be August 26, 2024. Post this date, there will be no secondary market for the Fund’s shares. The liquidation will occur after the close of business on August 30, 2024, with liquidation proceeds paid around September 4, 2024, based on shareholders’ holdings as of the Termination Date.
The Fund's final monthly distribution was declared on March 1, 2024, amounting to $0.027, payable on June 27, 2024. Shareholders are advised to consult their tax advisors regarding any tax liabilities from the liquidation proceeds. The tax-related details for the distributions will be provided through Form 1099-DIV sent by the Fund or brokers.
Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50 per share with key dates: Ex-Date and Record Date on June 13, 2024, and Payable Date on June 27, 2024. The Managed Distribution Plan aims to maintain consistent distribution levels sourced from net investment income, realized capital gains, or fund assets, potentially returning a portion of the capital. Performance metrics include a 5-year average annual total return on NAV of 12.33%, a current annualized distribution rate of 8.03%, and a fiscal YTD cumulative total return on NAV of 6.66%. Notably, a substantial portion of the distribution is attributed to the return of capital.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a quarterly cash distribution of $0.34375 per share for its Series A Cumulative Preferred Shares. The distribution is payable on June 28, 2024, to shareholders of record on June 13, 2024. The Series A shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.375 per share and were issued on September 11, 2018, at $25.00 per share.
The shares are now callable at the liquidation value of $25.00 per share plus accrued dividends. This distribution covers the period from April 1, 2024, to June 30, 2024, and the total issuance includes 4,360,000 shares.
Virtus Convertible & Income Fund (NYSE: NCV) has declared a quarterly cash distribution of $0.3515625 per share for its Series A Cumulative Preferred Shares. The payment is scheduled for June 28, 2024, to shareholders of record as of June 13, 2024. These shares, rated 'A' by Fitch Ratings, were issued at $25.00 per share on September 20, 2018, and have an annual dividend rate of $1.40625 per share. The distribution covers the period from April 1, 2024, to June 30, 2024. The shares are callable at any time at their liquidation value plus accrued dividends.
The Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) has announced a quarterly distribution of $0.28 per share, with key dates including an ex-date and record date of June 13, 2024, and a payable date of June 27, 2024.
The distribution aims to maintain a steady payout level, comprising net investment income, realized capital gains, or a return of capital. The Fund estimates that most of the distribution comes from net investment income (87.5% QTD and 52.4% YTD), with smaller portions from realized short-term (0.4% QTD, 9.7% YTD) and long-term capital gains (4.5% QTD, 34.1% YTD), and return of capital (7.6% QTD, 3.8% YTD).
Important performance indicators include a 5-year average annual total return on NAV of 8.41%, an annualized current distribution rate of 7.79%, a fiscal YTD cumulative total return on NAV of 3.09%, and a fiscal YTD cumulative distribution rate of 3.89%.
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) disclosed its monthly distribution for March 2024, amounting to $0.18 per share, payable on May 30, 2024. This distribution is part of the Managed Distribution Plan, which ensures consistent payouts. However, if net investment income and realized capital gains fall short, distributions may include a return of shareholder capital. For May 2024, the entire distribution is a return of capital. Performance data shows an average annual total return on NAV of 10.44% over five years, with a fiscal YTD cumulative total return of 2.39% and a distribution rate of 2.59%. Shareholders are advised that these estimates are not for tax reporting purposes and actual tax data will be provided via Form 1099-DIV.
Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced a monthly distribution of $0.15 per share, payable on May 30, 2024. This distribution may include net investment income, realized capital gains, or a return of capital. Fiscal year-to-date, the distribution includes 0.5% from net investment income, 58.4% from short-term capital gains, 16.6% from long-term capital gains, and 24.5% from return of capital. The fund's average annual total return on NAV for the past five years is 12.50%, with a fiscal YTD cumulative total return on NAV of 3.65%. These figures are based on NAV and not market price.
The fund cautions that the distribution should not be confused with investment performance, as a portion may be a return of capital. Detailed performance and distribution rates, including the fiscal YTD cumulative distribution rate of 2.15%, are provided in the notice. Actual distribution amounts for tax purposes may vary.
Virtus Total Return Fund (NYSE: ZTR) announced a monthly distribution of $0.05 per share, payable on May 30, 2024. The distribution may be sourced from net investment income, realized capital gains, or return of capital. For May 2024, the entire distribution is estimated to be a return of capital. Fiscal year-to-date, 92.7% of distributions have been from return of capital. Performance figures, based on NAV, show a 5-year average annual return of 1.90% and a fiscal YTD total return of 0.17%. The current distribution rate is 10.02% annualized, while the fiscal YTD cumulative distribution rate stands at 4.17%.
Notably, these estimates may not align with tax reporting purposes, and shareholders will receive a Form 1099-DIV for federal tax reporting.
Virtus Investment Partners (NYSE: VRTS) announced the launch of the Virtus AlphaSimplex Managed Futures ETF (NYSE: ASMF). This ETF leverages AlphaSimplex Group's expertise in systematic alternative investment strategies, utilizing proprietary research and dynamic risk management systems. ASMF aims to diversify traditional long-only portfolios by seeking positive risk-adjusted returns with low correlations to traditional asset classes. It targets the risk/return characteristics of the top 20 managed futures funds globally, offering long or short exposure to equities, fixed income, currencies, and commodities.
Managed by Dr. Alexander D. Healy and Dr. Kathryn M. Kaminski, ASMF is part of Virtus' multi-manager ETF platform, which includes 18 actively managed and index-based ETFs. The product aims to provide enhanced beta exposure and daily liquidity within an efficient, transparent ETF structure.
Virtus Investment Partners (NYSE: VRTS) has declared a quarterly cash dividend of $1.90 per common share for Q2 2024.
The dividend will be paid on August 15, 2024, to shareholders on record as of July 31, 2024.
Future dividend decisions will be subject to Board approval.
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