Virtus Tactical Allocation Fund

Doug Foreman is co-chief investment officer and a portfolio manager at Kayne Anderson Rudnick Investment Management, an investment management affiliate of Virtus Investment Partners. He is also a member of the executive management committee. As co-chief investment officer, Mr. Foreman shares responsibility for leading the investment team and overseeing the strategic management of the firm’s investment portfolios with co-chief investment officer, Craig Stone.

Before joining Kayne Anderson Rudnick in 2011, Mr. Foreman was director of equities at HighMark Capital Management. Prior to that, he was group managing director and chief investment officer of U.S. equities at Trust Company of the West (TCW). He began his investment career at Putnam Investments as an equity research analyst and portfolio manager.

Mr. Foreman earned a B.S. in marine engineering from The U.S. Naval Academy and an M.B.A. from Harvard University. He is a CFA® charterholder. He began working in the investment industry in 1986.

David Albrycht is president and chief investment officer of Newfleet Asset Management, an affiliated manager of Virtus Investment Partners. Mr. Albrycht is the senior portfolio manager of several multi-sector fixed income strategies, some dating back to the early 1990s.

In his role as CIO, Mr. Albrycht drives top-down strategy for Newfleet’s investment platform, which includes multi-sector and dedicated sector strategies for high yield and bank loans. In addition to managing mutual funds and variable investment options in these strategies, Mr. Albrycht is co-manager of two closed-end funds, Virtus Total Return Fund Inc. (NYSE: ZTR) and Virtus Global Multi-Sector Income Fund (NYSE: VGI). He also is co-manager of four exchange traded funds, Virtus Newfleet Multi-Sector Bond ETF (NYSE: NFLT), Virtus Newfleet Short Duration Core Plus Bond ETF (NYSE: SDCP), Virtus Newfleet Short Duration High Yield Bond ETF (NYSE: VSHY), and Virtus Newfleet ABS/MBS ETF (NYSE: VABS), and two offshore funds, the Virtus GF Multi-Sector Short Duration Bond Fund and the Virtus GF Multi-Sector Income Fund. Additionally, Mr. Albrycht is responsible for the structuring and management of Newfleet’s CLO platform.

Prior to joining Newfleet in 2011, Mr. Albrycht was executive managing director and senior portfolio manager with Goodwin Capital Advisers, a former investment management subsidiary of Newfleet’s parent, Virtus Investment Partners. Prior to that role, Mr. Albrycht was director of credit research at Goodwin’s predecessor, Phoenix Investment Counsel (PIC). In addition, he managed the Phoenix MISTIC CDO, a $1 billion multi-sector collateralized debt obligation, for which he was responsible for credit analysis and deal structure. He joined the PIC multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.

Mr. Albrycht earned a B.A., cum laude, from Central Connecticut State University and an M.B.A., with honors, from the University of Connecticut. He is a CFA® (Chartered Financial Analyst®) charterholder. He began his career in the investment industry in 1985.

Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC (“VFIA”), an SEC registered investment adviser.

Please consider a Fund’s investment objectives, risks, charges, and expenses carefully before investing. For this and other information about any Virtus Fund, contact your financial professional, call 800-243-4361, or visit virtus.com for a prospectus or summary prospectus. Read it carefully before investing.

Mutual Funds, Virtus Newfleet ETFs, and Virtus Global Funds distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.

Craig Thrasher is a portfolio manager and senior research analyst at Kayne Anderson Rudnick Investment Management, an investment management affiliate of Virtus Investment Partners. Mr. Thrasher has primary research responsibilities for emerging markets small-cap and international small- and mid-cap equities.

Before joining Kayne Anderson Rudnick in 2008, Mr. Thrasher worked at Kirr, Marbach & Company as an equity analyst, and at Wedbush Morgan Securities in correspondent credit.

Mr. Thrasher earned a B.S. in business and public administration, with a concentration in finance, from the University of Arizona, and an M.B.A. from the University of Chicago, Graduate School of Business. He is a Chartered Financial Analyst® (CFA®) charterholder. He began working in the investment industry in 2003.

Hyung Kim is a portfolio manager and senior research analyst at Kayne Anderson Rudnick, an investment management affiliate of Virtus Investment Partners. He has primary research responsibilities for emerging markets small-cap and international small- and mid-cap equities.

Prior to joining Kayne Anderson Rudnick in 2017, Mr. Kim served as an international equity analyst at Advisory Research Inc. for seven years, and as a portfolio manager on its global value strategy. Before joining Advisory Research, he worked as a research analyst at Coghill Capital Management and in corporate banking at HSBC and Woori Bank in Seoul, Korea. Mr. Kim also worked as an equity research intern at CLSA in Seoul.

Mr. Kim earned a B.A. in German with a minor in economics from Hankuk University of Foreign Studies in Seoul, Korea, and an M.B.A. in accounting and finance from the University of Chicago Booth School of Business. He is fluent in Korean and German. Mr. Kim began working in the investment industry in 2004.

Chris Armbruster is a portfolio manager and senior research analyst at Kayne Anderson Rudnick Investment Management, an investment management affiliate of Virtus Investment Partners. He has primary research responsibilities for the mid- and large-cap communication services, consumer discretionary, healthcare, and technology sectors.

Prior to joining Kayne Anderson Rudnick in 2013, Mr. Armbruster worked at B. Riley & Co. as an associate analyst covering special situations, and at Al Frank Asset Management as a vice president in equity research. He has approximately 14 years of equity research experience.

Mr. Armbruster earned a B.A. in business economics, with a minor in accounting, from the University of California, Los Angeles. He is a CFA® charterholder and is a member of the CFA Society of Los Angeles. He began working in the investment industry in 2004.

Stephen Hooker is a managing director and portfolio manager at Newfleet Asset Management, an affiliated manager of Virtus Investment Partners.

Mr. Hooker is a member of the multi-sector portfolio management team with primary responsibilities for institutional accounts. He joined Newfleet in 2011 to serve as sector manager for emerging markets, where he was responsible for researching issuers in Europe, the Middle East, and Africa.

From 2005 until 2011, Mr. Hooker was vice president, senior credit analyst at Aladdin Capital Management and Global Plus Investment Management, respectively, both of which specialize in high yield and structured credit products. Prior to 2005, he was at Goodwin Capital Advisers, a former Virtus investment management subsidiary, for 12 years, serving in various capacities, including as a senior credit analyst and emerging markets sector manager.

Mr. Hooker earned a B.A. in psychology from Trinity College. He is a Chartered Financial Analyst^® (CFA^®) charterholder. He began his career in the investment industry in 1993.

Noran Eid is a portfolio manager and senior research analyst at Kayne Anderson Rudnick Investment Management, an investment management affiliate of Virtus Investment Partners. She has primary research responsibilities for large-cap portfolios, focusing on the consumer discretionary, information technology, and healthcare sectors.

Prior to joining Kayne Anderson Rudnick in 2018, Ms. Eid was an investment analyst with Sands Capital Management.

Ms. Eid earned her B.S. in engineering from the American University in Cairo and her M.B.A. from the Wharton School, University of Pennsylvania. She began working in the investment industry in 2006.