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Newfleet Asset Management and Virtus ETFs Introduce Actively Managed Securitized Debt ETF
February 10, 2021 GMT
(PRNewsfoto/InfraCap MLP ETF)
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The Virtus Newfleet ABS/MBS ETF seeks to generate income by investing primarily in short-duration, investment-grade securitized debt across asset-backed securities (ABS) and mortgage-backed securities (MBS), including commercial and residential MBS. By utilizing Newfleet’s disciplined, time-tested investment process and rigorous risk management approach, the actively managed ETF expects to invest in asset-backed and mortgage-backed securities with competitive yield and current income across undervalued areas of securitized credit markets.
Virtus Investment Partners Reports Preliminary January 31, 2021 Assets Under Management
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HARTFORD, Conn., Feb. 9, 2021 /PRNewswire/ Virtus Investment Partners, Inc. (NASDAQ: VRTS) today reported total assets under management (AUM) as of January 31, 2021 of $132.9 billion.
Assets Under Management (unaudited)
(1)
Includes AUM of mutual funds registered under the Investment Company Act of 1940 and Undertakings for Collective Investments in Transferable Securities (UCITS)
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 Inves
Virtus expanding manager stable with Westchester acquisition
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Virtus Investment Partners entered into an agreement to acquire global event-driven money manager Westchester Capital Management.
The agreement calls for Virtus to acquire the firm for $135 million at closing, with a potential for future payments based on revenue and growth, said Virtus spokesman Joe Fazzino. Westchester Capital is currently owned by the principals of the firm, and Lincoln Peak Capital owns a minority stake in the firm as well, Mr. Fazzino said.
The deal is expected to close in the second half of 2021, he said.
The firm will join Virtus Investment Partners’ group of affiliated boutique money managers. Roy Behren and Michael Shannon, Westchester’s managing partners and portfolio managers, agreed to long-term employment and are “reinvesting a significant portion of the transaction proceeds into the firm’s investment strategies,” according to the release.
February 19, 2021
Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund s assets and will constitute a return of the shareholder s capital. You should not draw any conclusions about the Fund s investment performance from the amount of this distribution or from the terms of the Fund s Managed Distribution Plan.
Operator
Good morning, my name is Joelle and I ll be your conference operator today. I would like to welcome everyone to the Virtus Investment Partners Quarterly Conference Call. The slide presentation for this call is available in the Investor Relations section of the Virtus website www.virtus.com. [Operator Instructions]
Sean Rourke
Investor Relations
Thank you, Joelle, and good morning everyone. On behalf of Virtus Investment Partners, I d like to welcome you to the discussion of our operating and financial results for the fourth quarter of 2020. Our speakers today are George Aylward, President and CEO of Virtus; and Mike Angerthal, Chief Financial Officer.