Duff & Phelps International Series
The Series seeks attractive long-term returns by investing in international companies with attractive cash flow and valuation metrics. Coupled with deep fundamental analysis, stocks are selected based on cash flow return on invested capital, which can better capture a company's true economic return by avoiding global accounting differences and creating more accurate comparisons between countries.
Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management pursues a limited number of specialized investment strategies with exceptional depth of resources and expertise. Since their earliest beginnings, providing research and analysis of income producing securities to Depression-era investors, their attention has been set on identifying attractive opportunities and strategies, while managing the associated risks. Today, building on their distinguished legacy, Duff & Phelps has earned a reputation as a leader in investing in Global Listed Infrastructure, Global Listed Real Estate, MLPs & Energy, and International Equity. Quality. Reliability. Specialization. Since 1932.Visit the Duff & Phelps Investment Management Co. website
Frederick A. Brimberg
Senior Managing Director and Senior Portfolio Manager
Industry start date: 1979
Start date with fund: 2015
Frederick Brimberg is a senior managing director at Duff & Phelps Investment Management, an affiliate of Virtus Investment Partners, where he serves as senior portfolio manager of the International Equity strategy. Mr. Brimberg and the International Equity team joined Duff & Phelps in 2016 from Euclid Advisors LLC, another Virtus affiliate.
Mr. Brimberg’s career spans 30-plus years in investment management, trading, and capital markets. Prior to joining Euclid in 2012, he was a senior vice president and international equity portfolio manager at Avatar Associates where he started the international equity strategy in 2006. Earlier, he was vice president and portfolio manager for ING Investment Management with a focus on the international separately managed account product.
From 1990 to 2000, Mr. Brimberg held several positions at Lexington Management, including as a research analyst specializing in cyclical sectors within the developed international and emerging markets. Earlier in his financial career, he was a partner at Brimberg & Co., a New York Stock Exchange member firm, and he worked in institutional equity sales at Lehman Brothers Kuhn Loeb Inc.
Mr. Brimberg earned a B.A. in psychology from Washington & Lee University and an M.B.A. in finance from New York University. He is a member of the New York Society of Security Analysts and sits on the Bank of New York ADR committee. He has been working in the investment industry since 1979.
Bottom-up research emphasizes profitability on invested capital, measuring a company's ability to create value
Macro research helps informs regional, country, and sector allocations, with more weight in periods of structural instability and heightened correlations
High conviction portfolio of 30-40 securities searches for opportunity wherever cash flow returns appear mispriced, across market capitalizations with a bias toward quality and value
Top Holdings (% Series)
|Anhui Conch Cement Company Limited Class H||
|Ashtead Group plc||
|Golden Ocean Group Ltd||
|ASML Holding NV||
|DBS Group Holdings Ltd||
|Average Weighted Market Cap (billions)||$38.45|
|Median Market Cap (billions)||$24.78|
|Trailing P/E Ex-Negative Earnings||15.63|
|3-Year EPS Growth Rate||15.67|
Sector Allocation (% Equity)
Top Countries (% Invested Assets)
Performance & Risk
Growth of $10,000 Investment
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.
|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.
Returns for periods of less than one year are cumulative total returns.
Sales Charge and Expenses
Documents & Resources
|Virtus Duff & Phelps International Series Class I Summary Prospectus|
|Virtus Duff & Phelps International Series Class A Summary Prospectus|
The investments for the Series are managed by the same portfolio manager(s) who manage one or more other funds that have similar names, investment objectives and investment styles as the Series. You should be aware that the Series is likely to differ from the other mutual funds in size, cash flow pattern and tax matters. Accordingly, the holdings and performance of the Series can be expected to vary from those of the other mutual funds.
Shares of the separate Series of Virtus Variable Insurance Trust are sold only through the currently effective prospectuses and are not available to the general public. Shares of the VIT Series may be purchased only by life insurance companies to be used with their separate accounts which fund variable annuity and variable life insurance policies or qualified retirement plans and are also available as an underlying investment fund for certain qualified retirement plans. The performance information for the Series does not reflect fees and expenses of the insurance companies. If such fees and expenses were deducted, performance would be lower.
Please carefully consider the investment objectives, risks, charges, and expenses of the Series before investing. For this and other information about any Virtus Variable Insurance Trust Series, call 1-800-367-5877 or visit Virtus.com for a prospectus and/or summary prospectus. Read it carefully before you invest or send money.
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
© 2018 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.
1 Yields/Distributions: Distribution Yield (at NAV) is calculated by annualizing the latest month's distribution and dividing by the NAV on the last business day of the period. SEC Yield represents the net investment income earned by a fund over a 30-day period (7-day period for Money Market Funds), expressed as an annual percentage rate based on the fund's public offering share price at the end of the 30-day period (7-day period for Money Market Funds).
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: Trailing P/E: Per-share stock price divided by the latest12-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.
Not insured by FDIC/NCUSIF or any federal government agency. No bank guarantee. Not a deposit. May lose value.