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Home / Mutual Fund / Seix High Yield
Fixed Income
(Taxable)

Seix High Yield

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Ticker
HYPSX
CUSIP
92837F698
POP
$
(as of )
Inception
12/21/2001
Total Assets by Class
$6,977,512.31
(as of 01/22/2018)
Total Assets by Fund
$452,114,363.44
(as of 01/22/2018)
Morningstar Category
High Yield Bond
Product Overview

The Fund invests primarily in a diversified portfolio of high yield corporate bonds and other U.S. dollar-denominated debt instruments of U.S. and non-U.S. issuers. This Fund typically invests in the healthiest segment of the high yield market (BB & strong B credits).

The Fund is the successor of the RidgeWorth Seix High Yield Fund, as a result of that fund's reorganization with and into the Fund on July 14, 2017.

Management Team

Investment Partners

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
Portfolio Managers
James FitzPatrick
James FitzPatrick, CFA

Portfolio Manager, Managing Director, Head of Leveraged Finance Trading

Industry start date: 1996

Start date with fund: 2013

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Mike Kirkpatrick
Michael Kirkpatrick

Managing Director, Senior Portfolio Manager

Industry start date: 1991

Start date with fund: 2007

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Investment Process Highlights
Step
1

Engage in thorough bottom-up fundamental credit research in order to identify the strongest and most undervalued credits.

Step
2

Utilize proprietary industry models and evaluate company-specific factors including access to capital, asset protection, and competitive position.

Step
3

Employ a strict sell discipline; strive to generate superior risk-adjusted returns over a market cycle.

Step
4

Invest in the healthiest segment of the high yield market (BB and strong B credits)

Portfolio Characteristics

Top Holdings (% Fund)
(as of 12/29/2017)
Security
1011778 BC ULC / New Red Finance Inc, 5.00% 10/15/2025
1.37
Level 3 Financing Inc, 6.13% 01/15/2021
1.24
Nationstar Mortgage LLC / Nationstar Capital Corp, 6.50% 08/01/2018
1.10
Nationstar Mortgage LLC / Nationstar Capital Corp, 6.50% 07/01/2021
0.98
Harland Clarke Holdings Corp, 6.88% 03/01/2020
0.92
Chesapeake Energy Corp, 8.00% 12/15/2022
0.88
Howard Hughes Corp/The, 5.38% 03/15/2025
0.85
Harland Clarke Holdings Corp, 8.38% 08/15/2022
0.82
MGM Resorts International, 7.75% 03/15/2022
0.81
Starwood Property Trust Inc, 5.00% 12/15/2021
0.81

Holdings are subject to change.

Characteristics4
(as of 12/29/2017)
Duration (years) 3.38
Sector Allocation (% Fund)
(as of 12/29/2017)

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
Bonds: Bonds offer a relatively stable level of income, although bond prices will fluctuate providing the potential for principal gain or loss. Intermediate-term, higher-quality bonds generally offer less risk than longer-term bonds and a lower rate of return. Generally, a fund's fixed income securities will decrease in value if interest rates rise and vice versa.
High Yield-High Risk Fixed Income Securities: There is a greater level of credit risk and price volatility involved with high yield securities than investment grade securities.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

Virtus Seix High Yield Fund Fact Sheet
Virtus Seix High Yield Fund Commentary
Virtus Seix Brochure
Focus On High Yield
Seix Market Review - Leveraged Finance
Financial Materials
Virtus Asset Trust Statutory Prospectus
Virtus Seix High Yield - Summary Prospectus
Virtus Asset Trust Prospectus Supplement XBRL 497E 07 18 2017
Virtus Asset Trust Prospectus XBRL 485B 06 22 2017
Virtus Asset Trust SAI
RidgeWorth Fixed Income Funds Annual Report
Virtus Asset Trust Semiannual Report
Mutual Fund Distributions
Holdings
Virtus Seix High Yield 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 Yield (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: 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.

4 Characteristics: For Fixed Income Funds:  Duration represents the interest rate sensitivity of a fixed income fund. For example, if a fund's 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.

© 2017 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.