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Why “Home Bias” is Shortsighted

In today’s global economy, thriving companies aren’t bound by geography—not in where they are headquartered, nor in where they derive their income. Vontobel Asset Management discusses why investing beyond one’s own borders may benefit performance over the longer run. Also includes a brief discussion of the Virtus Vontobel Global Opportunities Fund.

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Implications of the Yield Curve Inversion

The ten-year U.S. Treasury note yield recently fell below that of the two-year note for the first time since 2007. Should the yield curve stay inverted for an extended period, it is clearly a negative development for economic growth. Kayne Anderson Rudnick (KAR) believes the yield curve tends to be a more accurate forecasting tool than many economists or Wall Street strategists, and should prompt the Fed to extend rate cuts.

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Emerging Markets for the Long Haul: The Small-Cap Opportunity

Emerging market equity was one of the most volatile asset classes in 2018 as tariff concerns, a rising U.S. dollar, and political uncertainty contributed to losses. Long-term investors know that volatility is quite the norm when it comes to emerging markets, and that the asset class—particularly the small-cap segment— can be a long-term winner and an important component of a well-diversified portfolio, thanks to its improving fundamentals and potential for outperformance.

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Investment Tips on a Subzero Yield Environment

Virtual Virtus roundtable on investment and economic implications of negative interest rates.

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Mid-Caps: At the Center of Attention

Explore the key attributes of mid-cap investing and the opportunities offered to investors, and use our interactive tool to see how an allocation to mid-caps may improve an equity portfolio’s performance and mitigate risk over time.

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Featured in Barron’s: Finding Stocks Ready to Take Flight

“It’s dividends, valuation, and fundamentals.” Don Wordell, portfolio manager at Virtus affiliate Ceredex Value Advisors, discusses the investment process behind the Virtus Ceredex Mid-Cap Value Equity Fund, which he has managed since 2001.

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z - Cover Image: Vital Signs 2Q19: Running in Place
2019 Q2 Vital Signs: Running in Place

Staying invested whether the markets are trending up, down, or staying flat is easier said than done. A diversified portfolio of managers who seek to deliver a smoother ride may help keep you from getting exercised about market gyrations.

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More Than A Rate Hedge – The Overlooked Return Potential of Bank Loans in a Yield Starved Environment

Newfleet Asset Management provides perspective on why the loan market should be viewed as an income asset class, not solely an interest rate hedging tool.

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A Different Way Home - The Search for Growth
A Different Way Home

The search for attractive long-term growth is an evergreen quest for all investors. Finding that growth while also trying to avoid sharp market losses is an even more challenging task.

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Trump Outmaneuvers Fed Via Trade Policy

Amid strong/persistent headwinds, Seix Investment Advisors explore the implications of the Fed’s reflexive responses to massive sell-offs and escalating trade tensions, as policy seems fixated on ever rising asset values.

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Senior Loan ETFs: The Strong Case for Active Management

Active managers of senior loans with long-term records of strong risk-adjusted returns have the potential to weather diverse market conditions, particularly in the later stages of the business cycle.

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Virtus Zevenbergen Innovative Growth Stock Fund Featured in New York Times

In this New York Times article, portfolio manager Nancy Zevenbergen shares insights on her team’s strategy and some of their favorite long-term holdings of the Virtus Zevenbergen Innovative Growth Stock Fund. The Fund invests in well-run, high-growth companies across market caps, but small-caps were big contributors to the Fund’s first quarter performance.

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MLPs and Energy Infrastructure: Q1 Market Review & Outlook

Duff & Phelps’ MLP investment team’s quarterly update on the MLP and energy infrastructure sector includes a recap of first quarter performance, market events, and thoughts on the opportunities ahead.

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China: Hurdles to Stimulus- Economy to Slow Further

Seix Investment Advisors discusses China’s ability to deliver solid economic growth in the coming months in order to prevent a further global slowdown in 2019 and beyond.

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z - Cover Image: Vital Signs: The Indexing Sugar Rush
2019 Q1 Vital Signs: The Indexing Sugar Rush

We’ve recently experienced a market in which the rising tide of global central bank easing has lifted virtually all boats. With everything going up regardless of price or quality, has diversification through active management lost its sheen? The rolling returns for the S&P 500® Index provide a crystal-clear illustration of the reality of market cycles.

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Fed Pivot Creates Favorable Technical for Flexible Credit Managers

The Fed’s pivot toward a more accommodative policy has driven a shift in both issuer and investor preferences, as evidenced by recent supply data and fund flows. This shift has created dislocations within the capital structure, allowing managers with flexible mandates to take advantage of relative value opportunities.

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Why Consider Active versus Passive Management in High Yield

The benefits of active versus passive management has been a longstanding question in asset management. The debate has gained momentum in recent years as only a few managers in certain asset classes have been able to outperform index-replicating strategies on a net basis.

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Leveraged Loans: Rates Not Rising? Don't Let That Sway You

Despite significant outflows in recent months, bank loans is still one of the best risk-adjusted asset classes since 1992.

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KAR’s Quality Equity Approach Featured in Forbes

Virtus affiliate Kayne Anderson Rudnick (KAR) is the subject of a Forbes magazine feature that includes an in-depth interview with KAR CIO Doug Foreman and centers on the company’s quality-driven approach to stock selection.

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z - Cover Image: Managed Accounts as a Retirement Plan Solution
Managed Accounts as a Retirement Plan Solution

Plan sponsors have a wide variety of investment solutions available to them in today’s retirement plan marketplace. This paper provides a framework for evaluating the potential benefits of including managed accounts as a complementary plan solution alongside participant-directed investments and target date funds.

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Morningstar Bronze Rating: Virtus Seix Floating Rate High Income Fund

“A well-executed, thorough process and cheap fees make Virtus Seix Floating Rate High Income a solid option among bank-loan funds.” – Kenneth Oshodi, Morningstar Manager Research Analyst

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Q4 MLP and Energy Infrastructure Market Review & Outlook

Plunging oil prices combined with a global market sell-off sent the midstream energy sector down over 17% in the fourth quarter of 2018 (as measured by the Alerian MLP Index), putting stocks dangerously close to their 2016 lows. Duff & Phelps’ Infrastructure Team assesses the events of the quarter and offers perspective on what’s ahead for 2019.

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z - Cover Image: Vontobel Manager Perspectives: ESG in Emerging Markets: More than Meets the Eye
Vontobel Manager Perspectives - ESG in Emerging Markets: More than Meets the Eye

In this Manager Q&A from Vontobel Asset Management, Sudhir Roc-Sennett, Senior Portfolio Adviser to the Emerging Markets Equity Strategy, discusses the firm’s philosophy and approach to environmental, social and governance (ESG) investing specific to emerging markets.

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z - Cover Image: Vontobel Viewpoints: Retail: Can Brick and Mortar Deliver for the Right Franchise?
Vontobel Viewpoints - Retail: Can Brick and Mortar Deliver for the Right Franchise?

In this age of digital disruption, the retail space is littered with companies that have fallen by the wayside. This paper from Vontobel Asset Management discusses how brick and mortar franchises can continue to prosper so long as they can generate incremental growth from e-commerce and adapt to a changing landscape.

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z - Cover Image: 4Q 2018 Vital Signs: The End of an Era: 2018 in Perspective
2018 Q4 Vital Signs: End of an Era - 2018 in Perspective

2018 marked the first down year for the U.S. equity market since 2008. The 2009-2017 stretch ties as the longest annual winning streak in market history. Until the fourth quarter, markets were buoyant, but political instability at home and abroad, rising interest rates, and a potential growth slowdown rattled global markets. Other than cash, all asset classes ranged between flat and down.

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z - Cover Image: Global Listed Real Estate Review and Outlook
Global Listed Real Estate: 2018 Review & 2019 Outlook

Cash flow and dividend growth remain positive drivers for global listed real estate, while the impact of monetary and fiscal policies remains uncertain. The Duff & Phelps Global Real Estate Investment Team takes a look at how the asset class performed in 2018 and shares their expectations for the year ahead.

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TD Ameritrade’s “Morning Trade Live” - John Creswell on Global Infrastructure Investing

View Duff & Phelps Executive Managing Director John Creswell’s 10-minute TDAmeritrade interview on global infrastructure investing and learn about Virtus Duff & Phelps Global Infrastructure Fund.

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z - Cover Image: Newfleet 2019 Fixed Income Market Outlook
Newfleet - 2019 Fixed Income Market Outlooks

Newfleet presents its 2019 broad fixed income market outlook and specific outlooks for Bank Loans and High Yield. Team members discuss opportunities and areas of concern across the various sectors in which Newfleet invests.

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z - Cover Image: Leveraged Loans and High Yield Bonds: Hedging Inflation in Retirement Plans
Leveraged Loans and High Yield Bonds: Hedging Inflation in Retirement Plans

With inflation a growing concern, retirement investors may wish to consider an allocation to non-traditional inflation hedges like high yield bonds and leveraged loans which offer little to lower duration risk, respectively, and a low correlation to investment grade bonds, as well as other benefits.

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3Q18 CIO Insights – Panel Discussion [Audio Replay]

Chief Investment Officers at Virtus affiliate investment managers—Doug Foreman (Kayne Anderson Rudnick Investment Management), Jim Keegan (Seix Investment Advisors), and Nathan Partain (Duff & Phelps Investment Management)—discuss market volatility, Fed policy, inflationary pressures, corporate earnings and revenues, the yield curve, and other timely and topical issues.

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z - Cover Image: 3Q 2018 Vital Signs: Following the Leaders
2018 Q3 Vital Signs: Following the Leaders

Nearly a decade into the post-2008 crisis era, this bull market has featured not just sizable returns and relatively little volatility, but strong leadership from a group of powerful, headline-grabbing companies: the “FAANG” stocks (Facebook, Apple, Amazon, Netflix, Google). Diversified portfolios can own these stock market darlings, but are not structured to keep pace with them.

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Q3 Energy and MLPs Market Review & Outlook

Momentum from the second quarter continued into the third quarter for the energy space, as North American energy infrastructure stocks rallied hard in July and the first half of August, jumping 12.65% (as measured by the Alerian MLP Index).

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Much Ado About Taxes

Seix Investment Advisors’ Tax-Exempt team provides insights on the municipal market’s reaction to tax reform.

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z - Cover Image: The Wall Street Transcript – Providing Stable Risk-Adjusted Income Through a Leveraged Finance ETF
Newfleet’s Frank Ossino Featured in The Wall Street Transcript

Frank Ossino discusses potential benefits of the Virtus Newfleet Dynamic Credit ETF’s active approach and broad opportunity set.

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z - Cover Image: The Case for Bank Loans Remains Strong
The Case for Bank Loans Remains Strong

Featured in Wealth Management’s 2018 Midyear Outlook edition, Frank Ossino discusses Newfleet’s outlook and investment thesis for bank loans at the midyear point.

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MLP Regulatory Update: The FERC Blinked

The MLP investment team at Duff & Phelps explains how the Federal Energy Regulatory Commission’s mid-July about-face on its March tax policy ruling has bolstered an already compelling case for MLPs.

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Vontobel Viewpoints: Trading in China A-Shares
Vontobel Viewpoints: Trading in China A-Shares

China continues to open its market to foreign investors. The recent addition of 236 large-cap China A-shares to the MSCI Emerging Markets Index, among other MSCI indices, will lead to a significant increase in first-time overseas investors entering the Chinese A-share market. Vontobel Asset Management outlines how investors are able to get exposure to this opportunity.

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2Q18 Market Insights - Live Panel Discussion [Audio Replay]

Industry leaders from select Virtus investment partners discuss their economic and market insights.

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Energy and MLPs Mid-Year Market Review & Outlook

Duff & Phelps’ MLP investment team offers mid-year insights on the energy sector, including updates on global demand, recent MLP restructurings, midstream index changes, and pipeline approvals.

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z - Cover Image: Vontobel Viewpoints: Brazil
Vontobel Viewpoints: Brazil – The Moment of Truth

Brazil has sold off as the market fears the country is in trouble. If the huge pension program is not reformed, it will add expense to a budget already in deficit. On top of this, there will be a new president elected in October. In Vontobel’s view, whichever government wins, it will have little choice but to reform.

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Global Listed Infrastructure Q&A with Duff & Phelps

In April and May 2018, members of Duff & Phelps’ Global Listed Infrastructure team traveled to Australia, New Zealand and Europe for investment research trips. Senior portfolio manager Connie Luecke, CFA, shares insights gleaned from site visits and meetings with management.

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z - Cover Image: Vontobel Viewpoints - Consumer Staples: Orphans or Heroes?
Vontobel Viewpoints - Consumer Staples: Orphans or Heroes?

Even when investors shun consumer staples companies and their stock prices underperform the market, Vontobel Asset Management is content to maintain meaningful positions in a select few quality staples stocks that fit their requirements. Their latest positioning paper explains why.

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z - Cover Image: Vontobel Viewpoints: EM Currencies Take A Knock
Turning the Corner: Emerging Market Currencies Take A Knock

Since the end of the first quarter, the outlook for higher U.S. interest rates has been accompanied by a major sell-off in a number of EM currencies. Vontobel has not seen FX declines of this magnitude since the taper tantrum of 2013.

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REITs: The bid is back!

The Duff & Phelps Global Real Estate Investment Team comment on the positive pickup in deal activity in the industrial REIT space over the past month.

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Focus on: Global Opportunities in Real Estate

A Q&A with the portfolio managers of the Virtus Global Real Estate Securities Fund

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State of the Markets - 1Q18 Panel Discussion [Audio Replay]

Industry leaders from select Virtus investment partners discuss their economic and market insights.

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David Albrycht on CNBC's Closing Bell, March 13, 2018
Dave Albrycht on CNBC's Closing Bell

Dave Albrycht, President and Chief Investment Officer of Newfleet Asset Management, discusses his outlook for interest rates and portfolio positioning for rising rate environments.

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z - Cover Image: Vontobel Viewpoints: Secular Growth Opportunities in the Global Payments Industry
Vontobel Viewpoints: Secular Growth Opportunities in the Global Payments Industry

The $1 trillion+ global payments industry represents tremendous secular growth opportunities. This research paper discusses how networks such as Visa and Mastercard have powerful competitive positions and represent durable franchises with the potential to reward their shareholders for many years. Also touches on: e-commerce opportunities, Asia’s competitive landscape, the regulatory environment, and the impact of cryptocurrencies.

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Infrastructure Investment and Interest Rates

The macro landscape is forming a firm foundation under the infrastructure asset class, with demand powered on by a range of unforeseen geo-political circumstances. John Creswell, Executive Managing Director at Duff & Phelps Investment Management is quoted in this article published in the GLIO Journal.

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z - Cover Image: Vontobel Viewpoints: Less Taxing Times
Vontobel Viewpoints - Less Taxing Times

Vontobel Asset Management examines the effects of the Tax Cuts and Jobs Act of 2017 on U.S. corporations on a general level and specific to the high quality companies in which the firm invests.

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z - Cover Image: Seix Potential Impact of the Tax Cuts and Jobs Act on the Muni Market 2018
Potential Impact of the Tax Cuts and Jobs Act on the Municipal Market 2018

Seix Investment Advisors’ municipal bond team examines potential implications of the tax reform bill.

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Pension Crisis

Featured in Wealth Management’s 2018 Year-End Outlook edition, Seix examines unfunded pension liabilities, a key credit concern across municipal markets, and cautions muni investors to take notice.

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Trends in Global Investing

What keeps asset managers up at night? Where do pockets of value exist today? Sudhir Roc-Sennett, Senior Portfolio Adviser at Vontobel Asset Management, helps to answer these questions and more in Trends in Global Investing, a supplement featured in Pensions & Investments.

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z - Cover Image: Vontobel Viewpoints - Valuation: Taking a Long-Term View
Vontobel Viewpoints - Valuation: Taking a Long-Term View

Vontobel is constantly navigating the markets in search of genuine quality companies that not only meet its strict criteria for profitability, stability and growth – but are also sensibly priced. In this paper Vontobel explains its philosophy on valuation, the challenges of imperfect measurement and what has led them to develop their own investment chronometer.

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z - Cover Image: Vontobel Viewpoints: IT Stocks
Vontobel Viewpoints: Why IT Stocks are Well Suited for Quality Growth Investors

At the Vontobel Quality Growth Boutique, we believe that to invest in technology alone is not enough. We invest in technology businesses that we strongly believe in and that we think can provide outsized returns for our clients over many years. By employing our time-tested approach of quality growth investing at sensible prices, we have found a few choice Information Technology (IT) companies meeting our high hurdle rates.

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z - Cover Image: DPIM Market Review & Outlook
Virtus Viewpoints | Duff & Phelps Market Review & Outlook - Focus on Global Growth

Despite natural disasters, rising tensions with North Korea, dysfunction in Washington, and continued acts of global terrorism, global equity markets continued their steady upward movement in the third quarter, with the S&P 500® Index up 4.5%, the Europe STOXX® 600 Index up 2.8%, the Nikkei 225 Index up 2.2%, and the Hang Seng Index up 7.4%. For the S&P 500, it was the eighth straight quarterly advance.

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Midstream Energy and MLPs in the Wake of Hurricane Harvey

Since Hurricane Harvey made landfall in Texas on August 25, the impacts have been deeply felt at the economic and, more importantly, humanitarian levels. With approximately $1.0 billion of investments in midstream energy and MLP assets under management, Duff & Phelps’ Energy & MLP portfolio management and research team summarize their thoughts on the space, based on data available as of September 1, 2017.

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z - Cover Image: Is LIBOR Going Away?
Is LIBOR Going Away?

On July 27, 2017, the U.K. Financial Conduct Authority announced its intention to phase out LIBOR by the end of 2021. What does this mean for financial products that use LIBOR as a reference rate, such as bank loans? Frank Ossino, Newfleet’s Bank Loan Sector Head, provides insight in a special commentary.

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z - Cover Image: Financial Conditions, Inflation and Central Bank Shifts
Financial Conditions, Inflation and Central Bank Shifts

The last year has been interesting to say the least with the first half of 2017 a continuation of the “expect the unexpected” theme. From Brexit and the Trump election to the snap election in the UK earlier this year...

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