Daily Price (as of 12/8/2016)
|NAV Per Share:||4.66|
|Closing Market Price:||4.36|
Key Stats (as of 12/8/2016)
|Total Managed Assets:||$175,090,489|
Important Tax Information
SEC 19A Notices
- Virtus Total Return Fund Announces Tender Offer And Defers Proposed Merger (9/27/2016)
- Virtus And Zweig Closed-End Funds Announce Actions (9/7/2016)
- Five Closed-End Funds Announce Changes to Board Membership (8/2/2016)
- Final Results of Annual Meeting of Shareholders (6/6/2016)
- Virtus Total Return Fund Proxy Shareholder Letter (5/20/2016)
- Virtus Total Return Fund Proxy Shareholder Letter (5/12/2016)
- Virtus Total Return Fund Proxy Shareholder Letter (4/27/2016)
- Proxy Statement (4/18/2016)
- Virtus Total Return Fund Announces Quarterly Distribution And Other Actions To Enhance Shareholder Value (2/3/2014)
- Virtus Completes DCA Fund Adoption (12/12/2011)
Contact your financial representative for more information.
Email or call for service at
Invested in a balance of approximately 60% equity and 40% fixed income, the Fund's objective is total return, consisting of both capital appreciation and current income. The equity portion of the Fund invests globally in owners/operators of infrastructure in the communications, utility, energy, and transportation industries. The fixed income portion of the Fund is designed to generate high current income and total return through the application of extensive credit research and a time-tested approach that seeks to capitalize on opportunities across undervalued sectors of the bond market. The Fund pursues an options income strategy whereby it purchases and sells out-of-the money puts and calls, creating an options spread.
Performance (as of 11/30/2016)
|Net Asset Value (NAV)|
|YTD||One Year||Five Years||Ten Years||Since Inception|
|YTD||One Year||Five Years||Ten Years||Since Inception|
Sales Charge and Expense
Fund class operating expenses are 2.06%.
Excluding interest expense on the line of credit, the operating expense would have been 1.62%.
Performance reflects the deduction of fund operating expenses. Performance does not reflect the incurrence of brokerage expenses, which typically apply to exchange traded products. Total return net of brokerage expenses would be lower than the total returns on market value shown in the table.
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.
Net Asset Value vs. Market PriceNet Asset Value (NAV) represents the total value of all assets held by the Fund (minus its total liabilities), divided by the total number of common shares outstanding. The net asset value reflects the performance of the manager. Market price is the price at which investors may purchase or sell shares of the Fund on the New York Stock exchange. Market price is determined in the open market by buyers and sellers, based on supply and demand. The Fund’s Market Price fluctuates throughout the day and may differ from its underlying NAV. Shares of the Fund may trade at a premium (higher than) or a discount (lower than) to NAV. The fund has no control over the stock price on the New York Stock Exchange. The difference between the market price and the NAV (Premium/Discount) is expressed as a percentage of NAV. 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.
Automatic Reinvestment Plan
This plan offers shareholders a convenient way to acquire additional shares of the fund. Registered holders will be automatically placed in the Plan. If shares are held at a brokerage firm, contact your broker about participation in the Plan.
Fund Distributions and Managed Plan
Under the terms of the Fund’s managed distribution policy, the Fund seeks 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. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund.
The amounts and sources of distributions reported in Section 19(a) Notices are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of the fiscal year and may be subject to changes based on tax regulations. Please note that the characterization of Fund distributions for federal income tax purposes is different from book accounting generally accepted account principles (“GAAP”). 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.
You should not necessarily draw any conclusions about the Fund’s investment performance from the amount of this distribution. Contact your financial representative for more information, or email or call Virtus Closed-End Funds for service at 1-866-270-7788.
There can be no assurance that the fund will achieve its investment objectives.
This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Fund.
Contact your financial representative for more information, or email or call for service at 1-866-270-7788.
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.
Credit & Interest: Debt securities are subject to various risks, the most prominent of which are credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt securities may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.
Foreign Investing: Investing internationally involves additional risks such as currency, political, accounting, economic, and market risk.
High Yield-High Risk Fixed Income Securities: There is a greater level of credit risk and price volatility involved with high yield securities than investment grade securities.
Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.
Leverage: When a fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.
Call/Put Spreads: Buying and selling call and put option spreads on the SPX Index risks the loss of the premium when buying, can limit upside participation and increase downside losses.
Market Price/NAV: At the time of purchase and/or sale, an investor's shares may have a market price that is above or below the fund's NAV, which may increase the investor's risk of loss.