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Daily Price
(as of 9/7/2010)
NAV Change ($)
10.61 0.02
POP Change ($)
11.14 0.02
Key Stats
(as of 9/7/2010)
Inception: 12/15/1989
Ticker: NAMFX
CUSIP: 92828R677
Fund No.: 558
Net Assets by Fund: $200,094,946
Net Assets by Class: $119,637,265
Yields/Distributions 1
(as of 8/31/2010)
Distribution Yield (at NAV) 6.56%
SEC Yield 5.52%
Distributions Current Month $0.057821
Distributions YTD $0.438633
Distribution History 2
(August 2010)
Ex-Date 08/31/2010
Income $0.057821
STCG $0.000000
LTCG $0.000000
Reinvest NAV $10.58
Related Resources
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Prospectus/Financials
Goal & Strategy

The fund seeks to generate high current income and total return by applying extensive credit research and a time-tested approach to capitalize on opportunities across undervalued sectors of the bond market. The portfolio seeks diversification among 12 sectors in order to potentially increase return and manage risk. Subadviser Goodwin Capital Advisers' highly experienced team of investment professionals offers expertise in every sector of the bond market, including evolving, specialized and out-of-favor sectors.

Management Team
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David L. Albrycht, CFA
Industry start date: 1985
Fund Risks

Investing internationally, especially in emerging markets, involves additional risks such as currency, political, accounting, economic and market risk.

The Fund may invest in high yield bonds, which may be subject to greater credit and market risks.

As interest rates rise, existing bond prices fall and can cause the value of an investment in the Fund to decline. Changes in interest rates will affect the value of longer-term fixed income securities more than shorter-term securities.

Sales Charge and Expense

POP (Public Offering Price) performance reflects the deduction of the maximum sales charge of 4.75%. A contingent deferred sales charge of 0.50% may apply on certain redemptions made within 18 months following purchases on which a finder's fee has been paid.

Fund class operating expenses are 1.16%.
Top Holdings (%)
(as of 6/30/2010)
Republic of Argentina, 5.77%, 12/31/2033 1.57
Republic of Korea, 4.75%, 12/10/2011 0.80
Ball Corp., 7.13%, 9/1/2016 0.78
Morgan Stanley Capital I, 5.33% 0.67
Commonwealth of Canada, 2.75%, 12/1/2010 0.67
Royal Caribbean Cruises Ltd., 6.88%, 12/1/2013 0.62
Ineos Group Holdings plc, 8.50%, 2/15/2016 0.62
Federative Republic of Brazil, 10.25%, 1/10/2028 0.60
Republic of Turkey, 2/2/2011 0.57
WEA Finance LLC / WT Finance Australia, 6.75% 09/02/2019 0.56
Top Sectors (%)
(as of 6/30/2010)
Corporate - High Yield 26.12
Corporate - High Quality 25.09
Bank Loans 15.01
Non-Agency Commercial MBS 13.20
Emerging Market - High Yield 7.30
Risk Statistics3
(as of 6/30/2010)
  Fund Index
R2 0.08 1.00
Beta 0.80 1.00
Alpha -0.46 1.00
Std Dev 11.32 4.06

Index: Barclays Capital U.S. Aggregate Bond Index
Characteristics 4
(as of 6/30/2010)
Duration 3.54 years

This material must be preceded or accompanied by a prospectus. Investors should carefully consider the investment objectives, risks, charges and expenses of any Virtus Mutual Fund before investing. The prospectus contains this and other information about the fund. Please click on the prospectus link on this page for a current prospectus. You should read the prospectus carefully before you invest or send money.

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.

Average annual total return is the annual compound return for the indicated period. It reflects the change in share price and the reinvestment of all dividends and capital gains. NAV returns do not include the effect of any applicable sales charges. POP and w/CDSC returns include the effect of maximum applicable sales charges.

Returns for periods of less than one year are cumulative total returns.

1Yields/Distributions: Distribution Yield (at NAV) is calculated by annualizing the latest month's distribution and dividing by the NAV on the last business day of the period. It does not include long- or short-term capital gain distributions. SEC Yield represents the net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's share price at the end of the 30-day period. SEC Yield (gross) represents the SEC Yield had the fund not had expense reimbursements or partial waivers of fees.

2 Distribution History:  Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain

3 Risk Statistics:  R2 is a statistical measure that represents the percentage of a fund or security's movements that can be explained by movements in a benchmark index.  Beta is a quantitative measure of the volatility of a given portfolio to the overall market.  Alpha is a risk adjusted measure of an investment's excess return relative to a benchmark. A positive Alpha indicates that the investment produced a return greater than expected for the risk (as measured by Beta) taken.  Standard Deviation measures variability of returns around the average return for an investment fund. Higher standard deviation suggests greater risk. Risk Statistics are calculated using 36 monthly returns.

4 Characteristics: For Equity Funds:Trailing P/E: Per-share stock price divided by the latest12-months Earnings per Share; Price/Cash Flow: Per-share stock price divided by the per-share operating cash flow; Price/Book: Per-share stock price divided by the latest 12-month per-share Book Value; 3-Year EPS Growth Rate: Average of earnings per share growth for latest 3-year period. The 3-Year EPS Growth Rate is not a forecast of the fund's performance. 
4 Characteristics: For Fixed Income Funds:  Duration represents the interest rate sensitivity of a fixed income fund. For example, if a fund's duration is five years, a 1% increase in interest rates would result in a 5% decline in the fund's price. Similarly, a 1% decline in interest rates would result in a 5% gain in the fund's price.

Mutual funds distributed by VP Distributors, Inc., member FINRA and subsidiary of Virtus Investment Partners, Inc.
 
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