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Zevenbergen Innovative Growth Stock

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Ticker
SAGAX
CUSIP
92837F318
POP
$
(as of )
Inception
02/23/2004
Total Assets by Class
$26,933,256.62
(as of 12/14/2018)
Total Assets by Fund
$108,548,532.65
(as of 12/14/2018)
Morningstar Category
Large Growth
Investment Overview

The Fund seeks long-term capital appreciation by investing in a concentrated portfolio of companies across capitalizations and in different phases of their life cycle, which exhibit strong growth expectations. A strongly independent approach to research and disciplined active management aims to preserve objectivity from Wall Street biases and to help capture meaningful potential return advantages.

Management Team

Investment Partner

Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC is a growth equity boutique. The investment team has worked together for over a decade, applying rigorous fundamental research to build exclusively high growth portfolios.

Visit the Zevenbergen Capital Investments LLC website
Investment Professionals
Nancy Zevenbergen
Nancy Zevenbergen, CFA, CIC

President and Chief Investment Officer, Portfolio Manager

Industry start date: 1981

Start date with fund: 2004

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Brooke de Boutray
Brooke de Boutray, CFA, CIC

Managing Director, Portfolio Manager

Industry start date: 1982

Start date with fund: 2004

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Leslie Tubbs
Leslie Tubbs, CFA, CIC

Managing Director, Portfolio Manager

Industry start date: 1994

Start date with fund: 2004

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Joe Dennison
Joseph Dennison, CFA

Portfolio Manager

Industry start date: 2011

Start date with fund: 2015

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Anthony Zackery
Anthony Zackery, CFA

Portfolio Manager

Industry start date: 2011

Start date with fund: 2015

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Key Features
High-Growth Focus

Searches for well-run, high-growth companies prompting disruptive business landscape changes, often through technological advances

Rigorous Fundamental Research

Bottom-up analysis strives to identify stocks poised to benefit from price catalysts from positive revenue, cash flow, and earnings growth

High-Conviction Portfolio

Focused on the portfolio team's strongest investment opportunities, with a long-term, low-turnover approach to realize full stock value potential

Portfolio Characteristics

Top Holdings (% Fund)
(as of 09/28/2018)
Security
Amazon.com, Inc.
6.38
Exact Sciences Corporation
5.30
Netflix, Inc.
5.29
Shopify Inc
4.66
XPO Logistics, Inc.
4.34
Teladoc Health, Inc.
3.75
MercadoLibre, Inc.
3.57
2U, Inc.
3.39
Tilray Inc
3.35
Tesla Inc
3.33

Holdings are subject to change.

Characteristics4
(as of 09/28/2018)
Average Weighted Market Cap (billions) $147.53
Median Market Cap (billions) $15.31
Trailing P/E Ex-Negative Earnings 61.89
Price-to-Cash Flow 37.00
Price-to-Book Value 9.53
3-Year EPS Growth Rate 26.50
Sector Allocation (% Equity)
(as of 09/28/2018)

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
Risk Statistics3
(as of )
Fund Index
R2
Beta
Alpha
Std Dev
Risk Considerations
Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.
Growth Stocks: Growth stocks are typically sensitive to market movements because their market prices tend to reflect future expectations. When it appears those expectations will not be met, the prices of growth stocks typically fall.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials
Virtus Zevenbergen Innovative Growth Stock Fund Fact Sheet - A
Virtus Zevenbergen Innovative Growth Stock Fund Fact Sheet - I
Financial Materials
Virtus Asset Trust Statutory Prospectus
Virtus Zevenbergen Innovative Growth Stock Fund Summary Prospectus
Virtus Asset Trust Prospectus XBRL 485B 07 23 2018
Virtus Asset Trust SAI
Virtus Asset Trust Annual Report
Virtus Asset Trust Semiannual Report
Mutual Fund Distributions
Holdings
Virtus Zevenbergen Innovative Growth Stock Fund 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 Rate (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 Ex-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.

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.

© 2018 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.