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Closed-End Fund Fixed Income
(Taxable)

Virtus Global Multi-Sector Income Fund

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Ticker
CUSIP
Market Price
$ (as of )
Premium/Discount
%
Managed Assets
$ (as of )
Net Assets
$ (as of )
Inception

Portfolio Overview

Investment Overview

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 Fund also pursues an options overlay strategy that seeks to generate additional income.

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.

The Fund's options overlay strategy is being implemented through the use of index based, out-of-the-money put and call spreads. This strategy is driven by implied volatility, as measured by the CBOE® Volatility Index (or 'VIX®' as it's also called), and seeks to exploit pricing inefficiencies in options on the S&P 500® Index.

Management Team

Investment Partners

Newfleet Asset Management, LLC

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.


Learn more about Newfleet Asset Management, LLC

Rampart Investment Management Company, LLC

Rampart Investment Management, an investment management affiliate of Virtus Investment Partners, is one of the leading asset managers specializing in option strategies. A registered investment adviser since 1983, Rampart manages client positions and portfolios using domestic and international index and equity options.


Learn more about Rampart Investment Management Company, LLC

Investment Professionals

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2012

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Benjamin Caron, CFA

Senior Managing Director and Portfolio Manager

Industry start date: 1997
Start date as fund Portfolio Manager: 2012

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Kyle A. Jennings, CFA

Senior Managing Director and Head of Credit Research

Industry start date: 1992
Start date as fund Portfolio Manager: 2012

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Daniel P. Senecal, CFA

Managing Director and Co-Head of Emerging Markets

Industry start date: 1990
Start date as fund Portfolio Manager: 2012

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Warun Kumar

Chief Investment Officer

Industry start date: 1993
Start date as fund Portfolio Manager: 2014

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Performance & Risk

Performance

As of
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.

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.

Expenses

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. 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.

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.

Fund Distributions and Managed Distribution Plan

Under the terms of the Fund’s managed distribution policy, the Fund seeks to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund.

The amounts and sources of distributions reported in Section 19(a) Notices are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of the fiscal year and may be subject to changes based on tax regulations. Please note that the characterization of Fund distributions for federal income tax purposes is different from book accounting generally accepted account principles (“GAAP”). 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.

Distribution History2

Ex-Date Distribution Reinvest Price Note
02/12/2020 $0.126000 13.480000
01/06/2020 $0.126000 12.867768
12/11/2019 $0.126000 12.646928
11/08/2019 $0.126000 12.654079
10/10/2019 $0.126000 12.961837
09/12/2019 $0.126000 12.717919
08/09/2019 $0.126000 12.570406
07/10/2019 $0.126000 12.950956
06/12/2019 $0.126000 12.659089
05/10/2019 $0.126000 12.313303
04/10/2019 $0.126000 12.355880
03/08/2019 $0.126000 12.290646

You should not necessarily draw any conclusions about the Fund’s investment performance from the amount of this distribution. Contact your financial representative for more information, or  or call Virtus Closed-End Funds for service at 1-866-270-7788.

Please view the Fund’s Section 19-a notices, which set forth information regarding the composition of the distributions, including any portion that may constitute a return of capital.

Form 8937 Organization Actions

Disclosures

There can be no assurance that the fund will achieve its investment objectives.

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 or call for service at 1-866-270-7788.

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.
Foreign & Emerging Markets: Investing internationally, especially in emerging markets, involves additional risks such as currency, political, accounting, economic, and market risk.
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.
ABS/MBS: Changes in interest rates can cause both extension and prepayment risks for asset- and mortgage-backed securities. These securities are also subject to risks associated with the repayment of underlying collateral.
Bank Loans: Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and/or trade infrequently on the secondary market. Loans can carry significant credit and call risk, can be difficult to value, and have longer settlement times than other investments, which can make loans relatively illiquid at times.
Options Overlay: The options overlay strategy may not be successful in achieving its objective of increasing distributable income while limiting the risk of loss and, in periods of significant moves in the S&P 500 Index, has resulted and, in the future, may result in losses for investors.
Call/Put Spreads: Buying and selling call and put option spreads on the SPX Index risks the loss of the premium when buying, can limit upside participation, and increase downside losses.
Closed-End Funds: Closed-end funds may trade at a discount or premium from their net asset values, which may affect whether an investor will realize gains or losses. They may also employ leverage, which may increase volatility.
Market Volatility: Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions, or other events could have a significant impact on the fund and its investments, including hampering the ability of the fund's portfolio manager(s) to invest the fund's assets as intended.

Documents & Resources

Fact Sheet
Virtus Global Multi-Sector Income Fund Fact Sheet
Automatic Reinvestment
Virtus Global Multi-Sector Income Fund - Automatic Reinvestment and Cash Purchase Plan
Distributions
April 2, 2020
March 5, 2020
March 4, 2020
February 4, 2020
January 3, 2020
December 6, 2019
December 2, 2019
November 4, 2019
October 2, 2019
September 25, 2019
September 5, 2019
August 2, 2019
July 2, 2019
June 5, 2019
May 22, 2019
May 2, 2019
April 3, 2019
February 4, 2019
Section 19a Notices
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
December 2017
News Releases/Communications
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
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
Governance
Governance and Nominating Committee Charter
Audit Committee Charter - DSE, VGI, ZF, ZTR
Procedures for Complaints Regarding Accounting, Internal Accounting Controls or Auditing Matters
Financial Materials
VGI Annual Report
VGI Semiannual Report
2019 VGI Tax Information