HARTFORD, CT, April 19, 2022 -- Virtus Investment Partners (NASDAQ: VRTS), which operates a multi-boutique asset management business, announced that two of its mutual funds have been honored as Investor’s Business Daily (IBD) Best Mutual Funds of 2022 for beating the broad market and surpassing their respective benchmarks over the last one-, three-, five-, and 10-year periods. Funds named are in the top of their category based on their 10-year average annual returns.
Recognized for their performance through December 31, 2021 are:
"We are honored to earn recognition from IBD for funds that provide a diverse set of strategies and investment approaches,” said Barry Mandinach, executive vice president and head of distribution at Virtus. “The IBD Fund awards recognize the ability of the experienced investment teams at Allianz Global Investors and Stone Harbor to successfully deliver exceptional, long-term performance for our clients.”
The Virtus AllianzGI Convertible Fund seeks to capture the upside potential of equities with the reduced volatility of fixed income securities by investing in the most compelling U.S. dollar-denominated convertibles. The fund is managed by Justin Kass, CFA, Michael Yee, and David Oberto of Allianz Global Investors (AllianzGI).
The Virtus Stone Harbor Emerging Markets Corporate Debt Fund seeks to maximize total return by investing in a portfolio of emerging markets debt instruments. The fund is managed by Peter Wilby, CFA, James Craige, CFA, William Perry, Stuart Sclater-Booth, Kumaran Damodaran, Ph.D., and David Oliver, CFA of Stone Harbor Investment Partners, which became an affiliated manager of Virtus on January 1, 2022.
About Investor’s Business Daily’s Best Mutual Funds Awards
This year’s winners were drawn from 3,673 mutual funds in operation for at least 10 years. IBD’s data-driven list showcases a variety of top-performing mutual funds across the major categories that investors consider for broad market exposure or more narrow objectives. IBD then screens for those funds that beat their benchmark indexes in the four time periods ended December 31, 2021 and lists the top five funds in each category. The 2022 list spans 11 categories of funds, including growth stock mutual funds, small-cap funds, bond funds and index funds. No value funds met the performance criteria.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with more than 750 investment professionals in 25 offices worldwide and managing assets for individuals, families, and institutions. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.
About Stone Harbor
Stone Harbor Investment Partners, LLC, an affiliated manager of Virtus Investment Partners, is a global institutional fixed-income investment manager specializing in credit and asset allocation strategies. The firm manages institutional clients’ assets in a range of investment strategies including emerging markets debt, global high yield, bank loans, as well as multi-sector credit products including unconstrained and total return approaches. The firm’s investment strategies are based on fundamental insights, derived from a combination of proprietary research and the in-depth knowledge and specialized experience of the firm’s team. Founded in 2006, it is based in New York City with additional offices in London and Singapore.
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. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.
Important Risk Considerations
Convertible Securities: A convertible security may be called for redemption at a time and price unfavorable to the portfolio. Counterparties: There is risk that a party upon whom the portfolio relies to complete a transaction will default. Credit & Interest: Debt instruments are subject to various risks, including credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt instruments may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities. Currency Rate: Fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the portfolio's shares. Derivatives: Derivatives may include, among other things, futures, options, forwards and swap agreements and may be used in order to hedge portfolio risks, create leverage, or attempt to increase returns. Investments in derivatives may result in increased volatility and the portfolio may incur a loss greater than its principal investment. Emerging Markets Investing: Emerging markets securities may be more volatile, or more greatly affected by negative conditions, than those of their counterparts in more established foreign markets. Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk. Foreign Investing: Investing in foreign securities subjects the portfolio to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, economic, and market risk. High Yield Fixed Income Securities: There is a greater risk of issuer default, less liquidity, and increased price volatility related to high yield securities than investment grade securities. Income: Income received from the portfolio may vary widely over the short- and long-term and/or be less than anticipated if the proceeds from maturing securities in the portfolio are reinvested in lower-yielding securities. Issuer Risk: The portfolio will be affected by factors specific to the issuers of securities and other instruments in which the portfolio invests, including actual or perceived changes in the financial condition or business prospects of such issuers. Liquidity: Certain instruments may be difficult or impossible to sell at a time and price beneficial to the portfolio. Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended. Prepayments/Calls: If issuers prepay or call fixed rate obligations when interest rates fall, it may force the portfolio to reinvest at lower interest rates.
Prospectus: For additional information on risks, please see the fund's prospectus.
Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed may be worth more or less than their original cost.
Please click on the fund name link for additional fund details and performance data current to the most recent month-end.
Please consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. For this and other information about any Virtus Fund, contact your financial representative, call 800-243-4361, or visit virtus.com for a prospectus or summary prospectus. Read it carefully before investing.
Virtus Mutual Funds are distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.
Contacts
Josh Silvia, Media Relations Jaime Doyle, Media Relations
(860) 503-1327 (973) 944-8105
joshua.silvia@virtus.com jdoyle@jconnelly.com