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Virtus Fund Advisers, LLC, ("VFA") serves as investment adviser to Virtus mutual funds and certain separately managed accounts. In this capacity, VFA is primarily responsible for implementing an investment strategy for each portfolio, and typically selecting either affiliated or unaffiliated subadvisers to implement an investment management program for each.

VFA provides portfolio management for two Virtus Allocation Funds.

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.