Check out our profile of Virtus in the August 20th issue of FORBES magazine.
FORBES: Virtus Adds $1.4B Manager To Its Booming Fund Family
Shares of Virtus are up 9% since Wednesday when the company reported earnings after the bell.
Later this year Virtus will introduce the Wealth Masters Fund, which will be subadvised by Horizon Kinetics.
The fund has a 1.62% expense ratio, and fees are split equally between subadvisor Vontobel and Virtus.
Phoenix had been planning to sell Virtus since 2007, but in late 2008 financial firms were scrambling.
Thorp owns more than 10% of Virtus, making his fund its second-largest shareholder, behind Bank of Montreal.
Financial details of the transactions are not public but Virtus says it expects the deal to close in the fourth quarter.
FORBES: Virtus Adds $1.4B Manager To Its Booming Fund Family
Aylward saw the potential in Virtus, lobbied management for the spinoff and worked with investment banker Goldman Sachs to make it happen.
Sonoma started buying stock in Virtus in February 2009, after the spinoff and as the financial crisis was causing other stockholders to panic.
That firm is spinning off its investment-management arm, Phoenix Investment Partners, which it said Thursday would be called Virtus Investment after the separation.
Virtus has been enjoying a significant success since spinning out from Phoenix Companies on Dec. 31, 2008, just as financial markets neared their depths.
The story is similar with its top bond fund, the Virtus Multi-Sector Short Term Bond Fund, run by Virtus-owned money manager Newfleet Asset Management.
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Virtus Investment Partners said today that it bought Rampart Investment Management, a firm specializing in customized options strategies for institutional and high-net worth clients.
FORBES: Virtus Adds $1.4B Manager To Its Booming Fund Family
Mr Allison was the co-founder and director of Virtus Trust Limited.
Virtus also partners with an additional seven subadvisors including BMO Asset Management, Pyrford International, Sasco Capital, Vontobel Asset Management, F-Squared Investments, Monegy and Aberdeen Asset Management.
FORBES: Virtus Adds $1.4B Manager To Its Booming Fund Family
Contrast this with the 0.05% annualized transaction costs (with no front-end load) for our highest rated small-cap growth mutual fund, Virtus Equity Trust: Virtus Small-Cap Core Fund (PKSFX).
The organization running my Virtus training was the liability insurer of the Catholic Church, which certainly had first-hand knowledge of the damage sex-offender scandals can do to a once-revered institution.
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Read more about Virtus and how it became one of the most popular mutual fund families at big brokerages firms like Morgan Stanley, UBS and Bank of America Merrill Lynch.
FORBES: Virtus Adds $1.4B Manager To Its Booming Fund Family
Among its best performing funds are the Virtus Multi-Sector Short Term Bond Fund run by Newfleet Asset Management and its Emerging Markets Opportunities Fund run by Vontobel Asset Management.
Virtus Investment Partners is a lucky casualty of the financial crisis--a sleepy mutual fund company spun off from insurer Phoenix Companies on Dec. 31, 2008, just as financial markets neared their depths.
J. home at 6:30 to review accounts and sets out at 8:30 (in a charcoal gray Mercedes littered with PowerBars, bottled water and Virtus fund brochures) to drive 50 miles to Red Bank, N.
The Virtus multi-manager platform is not unique but performance of its funds and standout sales team is what sets it apart from the competition, according to financial advisors who use the funds for their clients.
FORBES: Virtus Adds $1.4B Manager To Its Booming Fund Family
"Virescit Vulnere Virtus" is not true.
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The Virtus model is a simple yet timely one: Acquire a diverse group of boutique investment firms that are doing well or have promise, offer these smaller managers liquidity and give them access to broader distribution under a single brand umbrella.
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