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Sasco Capital, Inc.

Sasco Capital, Inc., is an asset manager specializing in contrarian value equity investing. Its investment philosophy stems from the belief that the best opportunities to add value come from identifying undervalued investment ideas, undertaking independent research and adopting a long-term investment view.

A disciplined approach with a personal touch

Sasco's disciplined approach includes extensive fundamental analysis of business segments, and personal meetings with senior management.

Sasco Capital, an employee-owned organization, is an independent registered investment adviser incorporated in Connecticut in September 1985. It also manages investments for corporate pension and profit-sharing funds, state and local governments, endowments and foundations.

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Investors should carefully consider the investment objectives, risks, charges and expenses of any Virtus Mutual Fund before investing. The prospectus and summary prospectus contains this and other information about the fund. Please contact your financial representative, call 1-800-243-4361 to obtain a current prospectus and/or summary prospectus. You should read the prospectus and/or summary prospectus carefully before you invest or send money.