Virtus Global Multi-Sector Income Fund
The Fund's investment objective is to maximize current income while preserving capital. The fund seeks to generate high current income and total return by applying extensive credit research to capitalize on opportunities across undervalued sectors of the global bond markets.
The portfolio seeks global diversification among 14 sectors in order to potentially increase return and manage risk.
A team of investment professionals provides significant research depth across all sectors of the global bond markets.
Newfleet Asset Management
Newfleet Asset Management leverages the knowledge and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction.
Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC ("VFIA"), an SEC registered investment adviser.
Learn more about Newfleet Asset Management
David L. Albrycht, CFA
President and Chief Investment Officer
Industry start date: 1985
Start date as fund Portfolio Manager: 2012
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.
Benjamin Caron, CFA
Senior Managing Director and Portfolio Manager
Industry start date: 1997
Start date as fund Portfolio Manager: 2012
Ben Caron is a senior managing director and portfolio manager at Newfleet Asset Management, an affiliated manager of Virtus Investment Partners.
Prior to joining Newfleet in 2011, Mr. Caron was on the fixed income team at Goodwin Capital Advisers, a former Virtus investment management subsidiary. He joined Goodwin Capital in 2002 as a client service associate for the institutional markets group focusing on institutional fixed income clients. Earlier in his career, he was with Fidelity Investments, where he was responsible for client management and sales in the managed account group.
Mr. Caron earned a B.A. from Syracuse University and an M.B.A. from Suffolk University. He is a Chartered Financial Analyst® (CFA®) charterholder. Mr. Caron began his career in the investment industry in 1997.
Kyle A. Jennings, CFA
Senior Managing Director and Head of Credit Research
Industry start date: 1992
Start date as fund Portfolio Manager: 2012
Kyle Jennings is a senior managing director and the head of credit research at Newfleet Asset Management. Mr. Jennings is also co-portfolio manager of Newfleet’s Floating Rate Bank Loan, High Yield, and Global Multi-Sector Income strategies through a number of subadvisory relationships. Additionally, Mr. Jennings is responsible for the structuring and management of Newfleet’s CLO platform.
Mr. Jennings is a member of Newfleet’s corporate credit research team and currently covers the healthcare and pharmaceuticals industries within the leveraged finance markets. He is also a member of the team that formulates the leveraged finance strategy for the multi-sector fixed income strategies.
Prior to joining Newfleet in 2011, Mr. Jennings was on the fixed income team at Goodwin Capital Advisers, joining the predecessor, Phoenix Investment Counsel, in 1998. Before that, he was a credit research analyst in the banking industry for Shawmut Bank, Ironwood Capital, and Citizens Bank.
Mr. Jennings earned a B.S. in finance from the University of Connecticut and is a Chartered Financial Analyst® (CFA®) charterholder. He began his career in the investment industry in 1992.
Daniel P. Senecal, CFA
Managing Director and Credit Analyst
Industry start date: 1990
Start date as fund Portfolio Manager: 2012
Daniel Senecal is a managing director and credit analyst at Newfleet Asset Management, an affiliated manager of Virtus Investment Partners. He is a sector manager within the emerging markets
analyzing both sovereign and corporate debt.
Prior to joining Newfleet in 2011, Mr. Senecal was on the fixed income team at Goodwin Capital Advisers, an investment management company that previously was a subsidiary of Virtus. He began at Goodwin Capital in 1997 as a corporate credit research analyst, followed by several roles, including sector manager for investment grade corporate credit and sovereign credit. He was also lead portfolio manager of the Phoenix High Yield Fund from 2003 until 2005 and Phoenix Emerging Market Fund from 2004 to 2005.
Earlier in his career, Mr. Senecal completed a formal credit training program at Shawmut National Bank where he was a credit research analyst and lender. He also worked at BankBoston as a corporate bond analyst.
Mr. Senecal earned a B.A. in economics and English from Assumption College and an M.B.A. in finance from the University of Connecticut. He is a Chartered Financial Analyst® (CFA®) charterholder. He began his career in the investment industry in 1990.
Performance & Risk
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.
Performance reflects the deduction of Fund operating expenses. Performance does not reflect the incurrence of brokerage expenses, which typically apply to exchange traded products. Total return net of brokerage expenses would be lower than the total returns on market value shown in the table. 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. Returns for periods of one year or less are cumulative returns.
Ratings Distribution (% Invested Assets)
|Cash & Equivalents||
The ratings issued by Nationally Recognized Statistical Rating Organizations assess the credit worthiness of a corporation's or government's debt issues. The ratings apply to the fund's holdings and not the fund. Ratings are provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Newfleet uses the higher rating. If a rating is not available, the bond is placed in the Not Rated category. Credit ratings are subject to change. Aaa, Aa, A, and Baa are investment grade ratings; Ba, B, Caa, Ca, C, and D are below-investment grade ratings.
Sector Allocation (% Invested Assets)
|Corporate - High Quality||
|Corporate - High Yield||
|Emerging Market - High Yield||
|Yankee - High Quality||
|Asset Backed Securities||
|Non-Agency Residential MBS||
|Mortgage Backed Securities||
|Non-Agency Commercial MBS||
Allocations are subject to change daily.
Top Holdings (% Fund)
|United States Treasury Note/Bond, 3.6250% 05/15/2053||
|Fannie Mae Pool, 6.0000%||
|Indonesia Government International Bond, 2.8500% 02/14/2030||
|Jordan Government International Bond, 5.8500% 07/07/2030||
|Dominican Republic International Bond, 4.8750% 09/23/2032||
|Zions Bancorp NA||
|Turkey Government International Bond, 7.6250% 04/26/2029||
|Mexico Government International Bond, 6.3380% 05/04/2053||
|Turkey Government International Bond, 9.1250% 07/13/2030||
|Petroleos Mexicanos, 6.3750% 01/23/2045||
Holdings are subject to change.
Assets (in millions)(as of 11/30/2023)
|Total Net Assets||$95.58|
|Total Borrowed Debt||$43.00|
|Total Managed Assets||$138.58|
Effective Leverage(as of 11/30/2023)
Assets (in Millions):
Total Net Assets: includes net assets applicable to Common Shareholders
Total Managed Assets: Total Net Assets + Total Borrowed Debt
Borrowed Debt: % is Total Borrowed Debt divided by Total Managed Assets
Distributions are not guaranteed and are subject to change.
Distributions may be comprised of net investment income, capital gains and/or return of capital. Please refer to Section 19a notices below, if applicable for estimates on the composition of the distribution.
Year-to-Date Distribution History
|Ex-Date||Record Date||Payable Date||Total Distribution ($/Share)||Note|
You should not draw any conclusions about the Fund’s investment performance from its distributions. Please view the Fund’s Section 19a notices below, if applicable, which set forth information regarding the estimated composition of the distributions, including any portion that may constitute a return of capital.
The distribution table above is for informational purposes only and should not be used for tax reporting purposes. A Form 1099 DIV (or substitute Form 1099 DIV) will be sent to shareholders at the beginning of each year that will state the federal tax status of distributions received during the previous calendar year. Please consult a tax professional regarding specific tax matters.
Automatic Reinvestment Plan
This plan offers shareholders a convenient way to acquire additional shares of the fund. Registered holders will be automatically placed in the Plan. If shares are held at a brokerage firm, contact your broker about participation.
Net Asset Value vs. Market Price
Net Asset Value (NAV) represents the total value of all assets held by the Fund (minus its total liabilities), divided by the total number of common shares outstanding. The net asset value returns reflect the performance of the manager. Market price is the price at which investors may purchase or sell shares of the Fund. Market price is determined in the open market by buyers and sellers, based on supply and demand. The Fund’s Market Price fluctuates throughout the day and may differ from its underlying NAV. Shares of the Fund may trade at a premium (higher than) or a discount (lower than) to NAV. This characteristic is a risk separate and distinct from the risk that the Fund’s net asset value could decline. The Fund has no control over the market price. The difference between the market price and the NAV (Premium/Discount) is expressed as a percentage of NAV.
There can be no assurance that the
This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Fund.
Contact your financial representative for more information, or email or call for service at 1-866-270-7788.
Section 19a Notices
|May 23, 2023 - Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders|
|April 11, 2023 - Joint Annual Meeting of Shareholders Proxy Statement|
|July 5, 2022 - Virtus Closed-End Funds Update|
|May 24, 2022 - Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders|
|April 18, 2022 - Joint Annual Meeting of Shareholders Proxy Statement|
|November 18, 2021 - Virtus Global Multi-Sector Income Fund to Remove Managed Distribution Plan, Maintain Monthly Distribution of $0.08/Share|
|May 20, 2021 - Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders|
|April 15, 2021 - Joint Annual Meeting of Shareholders Proxy Statement|
|June 18, 2020 - Virtus Closed End Funds Remove Options Strategies|
|May 21, 2020 - Virtus Closed End Funds Announce Results of Joint Annual Meeting & Adjournment of Duff & Phelps Select MLP and Midstream Energy Fund|
|April 9, 2020 - Joint Annual Meeting of Shareholders Proxy Statement|
|November 4, 2019 - Virtus Closed End Funds Announce Results of Joint Special Meetings of Shareholders|
|September 3, 2019 - Special Meeting Proxy Statement|
|July 3, 2019 - Virtus Closed-End Funds Announce Joint Special Meetings of Shareholders|
|May 22, 2019 - Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders|
|April 16, 2019 - Proxy Statement|
|October 15, 2018 - Rampart Investment Management Added as Subadviser on Three Virtus Closed-End Funds|
|April 17, 2018 - Proxy Statement|
|September 16, 2016 - Results of Special Meeting of Shareholders|
|August 8, 2016 - Special Proxy Statement|
|August 2, 2016 - Five Closed-End Funds Announce Changes to Board Membership|
|May 22, 2014 - VGI Announces Results of Annual Meeting and Adoption of Options Strategy|