Virtus Investment Partners Finalizes Strategic Partnership With Allianz Global Investors

Rhea-AI Summary

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.

Positive

• Completion of strategic partnership with Allianz Global Investors enhances diversification.
• Access to manage $29.3 billion in assets increases potential revenue streams.
• Addition of 25 open-end mutual funds and 7 closed-end funds expands investment offerings.

Negative

• None.

HARTFORD, Conn., Feb. 1, 2021 /PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS) today announced the completion of the actions necessary to finalize its previously announced strategic partnership with Allianz Global Investors (AllianzGI), and has received fund shareholder or client approvals to become the investment adviser, distributor and/or administrator of $29.3 billion¹ in assets under management and to provide services to an additional $3.6 billion¹ of other fee-earning assets. The assets continue to be managed by AllianzGI, as an unaffiliated subadviser, and NFJ Investment Group (NFJ), a newly established Virtus affiliated manager.

The strategic partnership expands Virtus' investment offerings for U.S. retail clients with the addition of 25 open-end mutual funds, 7 closed-end funds, and retail separate accounts in value equity, multi-asset, thematic equity, and alternative strategies as well as a 529 plan offering and other multi-manager portfolio solutions.

NFJ manages $8.2 billion¹ in global value equity strategies in open and closed-end mutual funds, separately managed accounts, and institutional portfolios. Led by Chief Investment Officer John R. Mowrey, the firm uses a disciplined, value-oriented approach to bottom-up stock selection, employing fundamental research integrated with data analytics to identify stocks that represent compelling valuations in their respective industries.

About NFJ Investment Group
NFJ Investment Group is a global value equity manager with a rich heritage and deep roots in Dallas, Texas. Dating to 1989, NFJ is unwavering in its commitment to investing at the intersection of value, quality, and shareholder yield, seeking to identify companies with the strongest prospects for returning capital to shareholders and with low market expectations.

About Virtus Investment Partners, Inc.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Virtus' affiliates include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, NFJ Investment Group, Seix Investment Advisors, Silvant Capital Management, and Sustainable Growth Advisers. Additional information can be found at virtus.com.

¹ Assets as of December 31, 2020

 

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SOURCE Virtus Investment Partners, Inc.

FAQ

What impact does Virtus Investment Partners' partnership with Allianz have on VRTS stock?

The partnership is expected to enhance revenue potential by expanding Virtus' asset management capabilities, positively influencing VRTS stock.

What new funds are being added as part of this strategic partnership by Virtus Investment Partners?

The partnership introduces 25 open-end mutual funds, 7 closed-end funds, and various retail separate accounts.

How much in assets is Virtus Investment Partners managing after the alliance with Allianz?

Virtus Investment Partners is managing $29.3 billion in assets and an additional $3.6 billion in fee-earning assets.

What type of investment strategies does NFJ Investment Group focus on?

NFJ Investment Group focuses on global value equity strategies utilizing a value-oriented approach.