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Duff & Phelps Global Real Estate Securities

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Duff & Phelps Global Real Estate Securities

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Ticker
VGSAX
CUSIP
92828R412
POP
$ (as of )
Inception
03/02/2009
Total Assets by Class
$20,834,668.36 (as of 12/04/2020)
Total Assets by Fund
$267,563,427.88 (as of 12/04/2020)
Morningstar Category
Global Real Estate

Portfolio Overview

Investment Overview

The Fund seeks attractive long-term returns by providing global real estate securities exposure, emphasizing companies with revenues driven by recurring rental income. The highly experienced portfolio team applies a disciplined, bottom-up investment process, utilizing both qualitative and quantitative factors, focusing on high-quality commercial real estate owner/operators.

Global Real Estate Investing

A focus on high-quality businesses

Image - Logo - Refinitiv Lipper Award 2020

Management Team

Investment Partner

Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management pursues specialized investment strategies with exceptional depth of resources and expertise. Since its earliest beginnings, providing research and analysis of income producing securities to Depression-era investors, the firm's attention has been set on identifying attractive opportunities through active management and fundamental research, while managing the associated risks. Today, building on a distinguished legacy, Duff & Phelps has earned a reputation as a leader in investing in Global Listed Infrastructure, Global Listed Real Estate, and MLPs & Energy. Quality. Reliability. Specialization. Since 1932.


Learn more about Duff & Phelps Investment Management Co.

Investment Professionals

Geoffrey Dybas

Geoffrey P. Dybas, CFA

Executive Managing Director, Senior Portfolio Manager and Head of Real Estate

Industry start date: 1989
Start date as fund Portfolio Manager: 2009

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Frank Haggerty

Frank J. Haggerty, Jr., CFA

Senior Managing Director, Senior Portfolio Manager

Industry start date: 1996
Start date as fund Portfolio Manager: 2009

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Key Features

Attractive Income and Growth Potential

Pursues the stable cash flows offered by contractual rental revenues, emphasizing REITs with strong management teams focused on long-term value creation

Broadens Portfolio Diversification

Provides exposure to the lower correlations the global real estate market has historically exhibited to traditional stocks and bonds

Lower Volatility Approach

High-conviction, lower-turnover portfolio of 50-70 securities, strives to benefit from valuation inefficiencies and the historically higher long-term risk-adjusted returns of rental property companies over non-rental companies

Portfolio Characteristics

Top Holdings (% Fund)

(as of 09/30/2020)
Security
Prologis Inc
5.50
 5.50%
Equinix Inc
3.14
 3.14%
Mitsubishi Estate Co Ltd
2.70
 2.70%
Duke Realty Corp
2.62
 2.62%
AvalonBay Communities Inc
2.61
 2.61%
Sun Communities Inc
2.58
 2.58%
Vonovia SE
2.56
 2.56%
Healthpeak Properties Inc
2.51
 2.51%
Extra Space Storage Inc
2.44
 2.44%
Mitsui Fudosan Logistics Park Inc
2.41
 2.41%

Holdings are subject to change.

Top Countries (% Invested Assets)

(as of 09/30/2020)

Performance & Risk

Growth of $10,000 Investment

From 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

As of
As of
YTD 3 Month 1 Year 3 Years 5 Years 10 Years Since Inception

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

Yields / Distributions1

(as of )
30-day SEC Yield
30-day SEC Yield (unsubsidized)
Distribution Rate (at NAV)
Income Distributions Current Month
Income Distributions YTD

Risk Statistics3

(as of )
Fund Index
R2
Beta
Alpha
Std Dev

Risk Considerations

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.
Real Estate: The fund may be negatively affected by factors specific to the real estate market, including interest rates, leverage, property, and management.
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.
Foreign & Emerging Markets: Investing in foreign securities, especially in emerging markets, subjects the fund to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, economic, and market risk.
Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Related Literature

Marketing Materials

Virtus Duff & Phelps Global Real Estate Securities Fund Fact Sheet - R6
Virtus Duff & Phelps Global Real Estate Securities Fund Fact Sheet - I
Virtus Duff & Phelps Global Real Estate Securities Fund Commentary
Duff & Phelps Capabilities Brochure
Morningstar - Quarterly Ratings
Spotlight On: Duff & Phelps Global Real Estate Securities Fund
Why REITs are Compelling Now: Historical View on NAV Discounts

Financial Materials

Virtus Opportunities Trust Statutory Prospectus
Virtus Duff & Phelps Global Real Estate Securities Fund Summary Prospectus
Virtus Opportunities Trust Prospectus Supplement XBRL 497E 03 18 2020
Virtus Opportunities Trust Prospectus XBRL 485B 01 28 2020
Virtus Opportunities Trust SAI
Virtus Opportunities Trust Annual Report
Virtus Opportunities Trust Semiannual Report

Holdings

Virtus Duff & Phelps Global Real Estate Securities Fund Quarterly Holdings
Virtus Duff & Phelps Global Real Estate Securities Fund Top Holdings

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.

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.

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 distribution for fixed income funds or funds less than 1 year old, or (b) summing all distributions over the preceding 12 months for all other funds, and dividing the NAV on the last business date of the period.

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.

Morningstar Disclosures:
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.

© 2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Refinitiv Lipper Fund Award
Refinitiv Lipper Fund Awards 2020 Winner, USA, Virtus Duff & Phelps Global Real Estate Securities Fund (VGISX), Best Fund Over 10 Years, in the Global Real Estate Funds category (29 Global Real Estate Funds were eligible for the 10-year period).

The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60, and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.