AllianzGI Health Sciences
The Fund seeks attractive long-term competitive returns by investing in a portfolio of healthcare companies which strive to deliver innovative and cost effective solutions. Stock selection and portfolio construction is driven by high conviction growth, quality, valuation, and ESG risk criteria.
Effective February 1, 2021, this fund's name and investment adviser have changed. The fund's distributor is now VP Distributors, LLC.
Allianz Global Investors U.S. LLC
At Allianz Global Investors, active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.
Active is: Allianz Global Investors
Learn more about Allianz Global Investors U.S. LLC
Peter Pirsch, CFA
Director, Senior Analyst, Senior Portfolio Manager
Industry start date: 2006
Start date as fund Portfolio Manager: 2018
Peter Pirsch is a senior portfolio manager, a senior analyst, and a director with Allianz Global Investors. He has management and research responsibilities for the Health Care team.
Prior to joining Allianz Global Investors in 2018, Mr. Pirsch worked at Aptigon Capital, Visium Asset Management, Surveyor Capital, Fred Alger Management, and C.R. Bard. Before that, Mr. Pirsch an associate director at UBS Investment Bank and an analyst at Wells Fargo.
Mr. Pirsch earned a B.A. in economics and international relations from Bucknell University, and an M.B.A. with a certificate in health sector management from Duke University, Fuqua School of Business. He is a chartered Financial Analyst® (CFA®). He began his career in the investment industry in 2006.
Christopher Chin, M.D.
Director, Senior Analyst/Portfolio Manager
Industry start date: 2000
Start date as fund Portfolio Manager: 2020
Christopher Chin is a portfolio manager, senior analyst, and director on the Healthcare team at Allianz Global Investors. He is responsible for conducting primary research into the drivers of alpha in the medical industry across medtech, biotechnology, and therapeutics.
Prior to joining Allianz Global Investors in 2018, Mr. Chin held senior roles at Senzar Asset Management, Hudson Bay Capital Management, and Morgan Stanley FrontPoint Partners. Earlier in his career, he was a practicing medical doctor in Australia and New Zealand.
Mr. Chin earned a medical degree from the University of Otago, New Zealand, and a graduate diploma in applied finance and investment from the Securities Institute, Australia. He began his career in the investment industry in 2000.
Rapid Growth Opportunity
The Fund seeks to capitalize on the rapid growth in global healthcare spending due to impact from COVID-19, coupled with an aging society — the world's population over age 60 is expected to triple by 2050, necessitating the need for biopharma breakthroughs, smarter science and development, and technology-enabled care delivery
A top-down and bottom-up fundamental approach is used to construct a global portfolio of 45 to 75 high-quality healthcare companies, addressing themes such as innovative biotechnology and pharmacological treatments, cost-effective medical solutions, preventative health care, and healthy lifestyles
Healthcare Expertise and Global Reach
Portfolio managers average more than 20 years of experience. The Fund also taps the firm's global research platform, which is complemented by proprietary global Grassroots® Research that gathers on-the-ground market intelligence
Top Holdings (% Fund)
|AstraZeneca plc Sponsored ADR||
|Eli Lilly and Company||
|Bristol-Myers Squibb Company||
|Roche Holding Ltd Sponsored ADR||
|Novartis AG Sponsored ADR||
|Horizon Therapeutics Public Limited Company||
Holdings are subject to change.
Characteristics4(as of 03/31/2021)
|Average Weighted Market Cap (billions)||$91.87|
|Median Market Cap (billions)||$17.27|
|Trailing P/E Ex-Negative Earnings||27.37|
|3-Year EPS Growth Rate||12.78|
Sector Allocation (% Equity)
|Health Care Equipment||
|Managed Health Care||
|Health Care Supplies||
|Life Sciences Tools & Services||
|Health Care Services||
|Health Care Facilities||
|Internet & Direct Marketing Retail||
Top Countries (% Invested Assets)(as of 03/31/2021)
Performance & Risk
Growth of $10,000 InvestmentFrom to
This chart assumes an initial investment of $10,000 made on for Class ddd shares including any applicable sales charges. Performance assumes reinvestment of dividends and capital gain distributions.
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.
Sales Charge and Expenses
Distributions may be comprised of net investment income, capital gains and/or return of capital. Please refer to Section 19-a notices below, if applicable for estimates on the composition of the distribution.
|Virtus Investment Trust Prospectus Supplement XBRL 497E 02 05 2021|
|Virtus Investment Trust Prospectus XBRL 485B 02 01 2021|
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.
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.
1 Yields/Distributions: 30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change. 30-day SEC Yield (unsubsidized) is the 30-day SEC Yield without the effect of applicable expense waivers. Distribution Rate is calculated by (a) annualizing the latest income distribution for fixed income funds or funds less than 1 year old, or (b) summing all income distributions over the preceding 12 months for all other funds, and dividing the NAV on the last business date of the period, unless otherwise indicated.
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: Avg. Weighted Market Cap (bn): The total dollar market value of all of a company’s outstanding shares. Trailing P/E Ex-Negative Earnings: Per-share stock price divided by the latest 12-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: Effective Duration represents the interest rate sensitivity of a fixed income fund. For example, if a fund's effective 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.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads.
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