SGA International Growth Series
The Series offers investors exposure to international markets through companies that demonstrate strong, predictable, and sustainable growth potential. First-hand, team-based research aims to identify and invest in growth businesses with strong pricing power, repeatable revenues, long runways of growth, and financial and management strength.
Effective June 4, 2019, the Series' name and subadviser are changed. Performance prior to that date reflects that of the previous subadviser. Additionally, effective June 4, the Series' Index is the MSCI AC World ex USA Index (net), which is a free float-adjusted market capitalization-weighted index that measures equity performance of developed and emerging markets, excluding the United States. The index is calculated on a total return basis with net dividends reinvested. The index is unmanaged, its returns do not reflect any fees, expenses, or sales charges, and is not available for direct investment.
Sustainable Growth Advisers, LP.
Founded in 2003, Sustainable Growth Advisers is a growth equity manager focused on high-conviction U.S., global, emerging markets, and international portfolios.
Learn more about Sustainable Growth Advisers, LP.
Gordon M. Marchand, CPA, CIC, CFA
Industry start date: 1984
Start date as fund Portfolio Manager: 2019
Gordon Marchand is a co-founding principal, portfolio manager, and analyst at Sustainable Growth Advisers (SGA), an investment management affiliate of Virtus Investment Partners. In addition, he is a member of the firm’s investment committee, advisory board, and executive committee.
Prior to co-founding SGA in 2003, Mr. Marchand was an executive officer and a member of the investment policy committee and board of directors at Yeager, Wood & Marshall, Inc. since 1984. He also served as the firm’s chief operating officer and chief financial officer.
Mr. Marchand was instrumental in the launch of the John Hancock U.S. Global Leaders Growth Fund in 1995, and has continuously served on its portfolio management team. As a research analyst, he is a generalist having covered companies across multiple industries and global geographies, including financial services, healthcare, retail, consumer products, oil services, and technology.
Mr. Marchand began his career as a management consultant with Price Waterhouse. He is a Chartered Financial Analyst® (CFA®) charterholder, Chartered Investment Counselor (CIC), and Certified Public Accountant (CPA). He is past chairman, president, and member of the governing board of the Investment Adviser Association (IAA), which represents the interests of the investment management community.
Mr. Marchand holds a B.S. from Georgetown University, an M.B.A. from the University of Massachusetts, and has completed graduate study in international business at Oxford University. He began working in the investment industry in 1982.
Portfolio Manager and Analyst
Industry start date: 1995
Start date as fund Portfolio Manager: 2019
Tucker Brown is a portfolio manager and analyst at Sustainable Growth Advisers (SGA), an investment management affiliate of Virtus Investment Partners. He serves as a portfolio manager of the SGA International Growth portfolio. In addition, he is a principal of the firm and a member of its investment committee.
Prior to joining SGA in 2006, Mr. Brown was a Vice President in the Equity Research Department of Goldman Sachs, where he served as a member of the firm’s U.S. packaged food research team. Previously, he worked in the Investment Banking Division of Goldman Sachs, focused on M&A and corporate finance advisory for clients in retail and technology sectors. Mr. Brown began his career as a fund accountant and custody manager at Brown Brothers Harriman & Co.
Mr. Brown earned a B.A. in Economics from Bucknell University and an M.B.A. from The Wharton School. He began working in the investment industry in 1995.
Alexandra Lee, M.D.
Portfolio Manager and Analyst
Industry start date: 2000
Start date as fund Portfolio Manager: 2019
Alexandra Lee is a portfolio manager and analyst at Sustainable Growth Advisers (SGA), an investment management affiliate of Virtus Investment Partners. She serves as a portfolio manager of the SGA International Growth portfolio. In addition, she is a principal of the firm and a member of its investment committee.
Prior to joining SGA in 2004, Dr. Lee was an associate director and equity analyst at Bear Stearns, where she was responsible for coverage of large-cap biotechnology companies and served as a member of the firm’s global healthcare research team.
Previously, she worked as an equity research analyst at J.P. Morgan in the life sciences technology group, and as a management consultant at the Boston Consulting Group. Prior to her investment career, she was a medical doctor at Yonsei University in Seoul, Korea.
Dr. Lee earned an M.D. from Yonsei University in Korea and an M.B.A. from Harvard Business School. She began working in the investment industry in 2000.
Searches for companies that offer strong, predictable, and sustainable growth
A high-conviction, concentrated portfolio that invests in response to opportunities, rather than index relative weights
Manages price risk through application of valuation tools focused on cash flow
Characteristics4(as of 09/30/2021)
|Average Weighted Market Cap (billions)||$75.60|
|Median Market Cap (billions)||$47.38|
|Trailing P/E Ex-Negative Earnings||37.33|
|3-Year EPS Growth Rate||14.65|
Top Holdings (% Series)
|AIA Group Ltd||
|HDFC Bank Ltd||
|Shandong Weigao Group Medical Polymer Co Ltd||
|Dassault Systemes SE||
|Novo Nordisk A/S||
Holdings are subject to change.
Sector Allocation (% Equity)
Top Countries (% Invested Assets)(as of 09/30/2021)
Performance & Risk
Growth of $10,000 InvestmentFrom to
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
|Virtus SGA International Growth Series Class A Summary Prospectus|
|Virtus SGA International Growth Series Class I Summary Prospectus|
The investments for the Virtus Variable Insurance Funds (the “Funds”) 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 Funds. You should be aware that the Funds are likely to differ from the other mutual funds in size, cash flow pattern, and tax matters. Accordingly, the holdings and performance of the Funds can be expected to vary from those of the other mutual funds.
Shares of the Funds are sold only through the currently effective prospectuses and are not available to the general public. Shares of the Funds 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 Funds 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 Virtus Variable Insurance Funds before investing. For this and other information about any Virtus Variable Insurance Fund, 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 Rating™ 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
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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: Avg. Weighted Market Cap (bn): The total dollar market value of all of a company’s outstanding shares.Trailing P/E-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.
Not insured by FDIC/NCUSIF or any federal government agency. No bank guarantee. Not a deposit. May lose value.