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Home / Mutual Fund / Seix High Grade Municipal Bond
Fixed Income
(Non-Taxable)

Seix High Grade Municipal Bond

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Ticker
SFLTX
CUSIP
92837F631
POP
$
(as of )
Inception
01/18/1994
Total Assets by Class
$6,745,861.91
(as of 10/12/2018)
Total Assets by Fund
$71,195,347.99
(as of 10/12/2018)
Morningstar Category
Muni National Long
Investment Overview

The Fund seeks to maximize total return through current income that is exempt from federal income taxes, combined with capital appreciation consistent with capital preservation, by investing in investment grade municipal securities. A dynamic, multifaceted investment process balances emphasis across four facets: duration management, yield curve positioning, sector rotation, and security selection.

Management Team

Investment Partner

Seix Investment Advisors LLC

Seix Investment Advisors is an investment management boutique focused exclusively on managing fixed income securities since 1992. Seix seeks to generate competitive absolute and relative risk-adjusted returns over the full market cycle through a bottom-up focused, top-down aware process. Seix employs multi-dimensional approaches based on strict portfolio construction methodology, sell disciplines and trading strategies with prudent risk management as a cornerstone.

Visit the Seix Investment Advisors LLC website
Investment Professionals
Ron Schwartz
Ronald H. Schwartz CFA

Managing Director, Senior Portfolio Manager

Industry start date: 1982

Start date with fund: 1994

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Dusty Self
Dusty Self

Managing Director, Senior Portfolio Manager

Industry start date: 1992

Start date with fund: 2018

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Key Features
Tax-Exempt Income

Strives to generate income free from federal income taxes

Attractive Total Return Potential

Market inefficiencies may create buying and selling opportunities that facilitate meaningful return potential

Extensive Fundamental Research

Bottom-up security selection evaluates factors such as fundamental credit analysis, security structural features, and potential price volatility

Portfolio Characteristics

Top Holdings (% Fund)
(as of 06/29/2018)
Security
Dreyfus AMT-Free Tax Exempt Cash Management
8.69
County of Anne Arundel MD, 5.0000% 10/01/2032
4.71
New York City Transitional Finance Authority Future Tax Secured Revenue, 5.0000% 05/01/2032
4.69
State of Georgia, 4.0000% 07/01/2035
4.26
City of Charlotte NC Water & Sewer System Revenue, 1.4400% 07/01/2036
4.24
Washington County School District No 1 West Union, 5.0000% 06/15/2027
3.94
Metropolitan St Louis Sewer District, 5.0000% 05/01/2036
3.75
Maine Turnpike Authority, 6.0000% 07/01/2038
3.45
Idaho Health Facilities Authority, 6.7500% 11/01/2037
3.36
California Infrastructure & Economic Development Bank, 5.0000% 10/01/2048
3.10

Holdings are subject to change.

Characteristics4
(as of 06/29/2018)
Effective Duration (years) 6.32
Sector Allocation (% Fund)
(as of 06/29/2018)

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
Quarterly
As of
Monthly
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 )
Distribution Rate (at NAV)
SEC Yield
SEC Yield (gross)
Distributions Current Month
Distributions YTD

Distribution History2
(as of )
Ex-Date
Income
STCG
LTCG
Reinvest NAV
Risk Statistics3
(as of )
Fund Index
R2
Beta
Alpha
Std Dev
Risk Considerations
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.
State & AMT Tax: A portion of income may be subject to some state and/or local taxes and, for certain investors, a portion may be subject to the federal alternative minimum tax.
Municipal Market: Events negatively impacting a municipal security, or the municipal bond market in general, may cause the fund to decrease in value.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials
Virtus Seix High Grade Municipal Bond Fund Fact Sheet - A
Virtus Seix High Grade Municipal Bond Fund Fact Sheet - I
Virtus Seix High Grade Municipal Bond Fund Commentary
Seix Market Review - Investment Grade
Pension Crisis - January 2018
Focus On: Virtus Seix Municipal Bond Funds
Financial Materials
Virtus Asset Trust Statutory Prospectus
Virtus Seix High Grade Municipal Bond Fund Summary Prospectus
Virtus Asset Trust Prospectus XBRL 485B 07 23 2018
Virtus Asset Trust SAI
Virtus Asset Trust Annual Report
Virtus Asset Trust Semiannual Report
Mutual Fund Distributions
Holdings
Virtus Seix High Grade Municipal Bond Monthly 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 or visit www.virtus.com 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: Distribution Rate (at NAV) is calculated by (a) annualizing the latest distribution for fixed income funds or funds less than 1 year old (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. SEC Yield represents the net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's public offering share price at the end of the 30-day period. Gross SEC Yield represents the yield if there were no expense reimbursements.

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 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.

© 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.