Virtus GF Multi-Sector Short Duration Bond Fund

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The Virtus Global Funds (the “Funds”) are comprised of an open-ended investment company and an open-ended Irish collective asset-management vehicle, each of which is structured as an umbrella fund with segregated liability between sub-funds and each of which is authorised, formed and regulated under the laws of Ireland as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The offering of the shares of the Virtus Global Funds is restricted in many jurisdictions and investors must inform themselves of and observe applicable restrictions in their jurisdiction. The Funds are distributed by VP Distributors, LLC, One Financial Plaza, Hartford, CT 06103, USA. The Funds’ current prospectuses and key investor information documents contain more information as well as the risks of investing and may be obtained free of charge from BNY Mellon Fund Services (Ireland) Designated Activity Company, Wexford Business Park, Rochestown, Drinagh, Wexford Y35 VY03 Ireland Phone: (+353 21) 438 00 99, or by visiting www.virtusglobalfunds.com. The Funds have not been registered under the United States Investment Company Act of 1940, as amended, or the United States Securities Act of 1933, as amended, and are not available for sale in the U.S. or to U.S. Persons. Please see the Funds’ prospectus for a definition of U.S. Person.

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Product Overview

Investment Partner

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

This is a marketing communication. Please refer to the prospectus of the UCITS and to the KIID before making any final investment decisions.

Investment Overview

  • The strategy seeks to provide high current income while attempting to limit fluctuations in portfolio value due to changes in interest rates through investments in primarily investment grade fixed income debt obligations of various types of issuers across several bond market sectors. The fund's average duration will be 3½ years or less.
  • Investors invest in shares of the Fund. The Fund is suitable for long-term investors seeking high current income and who are prepared to accept a moderate level of volatility.
  • The Fund is actively managed. The Fund uses the Bloomberg U.S. Intermediate Aggregate Bond Index as a comparator benchmark but not to constrain portfolio composition or as a target for performance.

This fund is registered in the following countries: Finland, Germany, Norway, and the UK

Risk Considerations

Credit & Interest: Debt instruments are subject to various risks, including credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt instruments 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 in foreign securities, especially in emerging markets, subjects the portfolio to additional risks such as increased volatility, currency fluctuations, less liquidity, and political, regulatory, economic, and market risk.
High Yield Fixed Income Securities: There is a greater risk of issuer default, less liquidity, and increased price volatility related to 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 non-repayment of underlying collateral, including losses to the portfolio.
Bank Loans: Bank loans may be unsecured or not fully collateralized, may be subject to restrictions on resale, may be less liquid and may trade infrequently on the secondary market. Bank loans settle on a delayed basis; thus, sale proceeds may not be available to meet redemptions for a substantial period of time after the sale of the loan.
Market Volatility: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be short- or long-term. 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 portfolio and its investments, including hampering the ability of the portfolio's manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Fund Codes

Share Class ISIN Currency Bloomberg
A Shares Accumulating IE00BCZNJX33 USD VGMSDAA
A Shares Distributing IE00BQSBJF40 EUR VISDDAE
A Shares Distributing IE00BCZNJY40 USD VGMSDAD
C Shares Accumulating IE00BQSBJJ87 USD VGMSDCA
C Shares Distributing IE00BQSBJK92 USD VGMSDCD
I Shares Accumulating IE00BCZNJZ56 USD VGMSDIA
I Shares Distributing IE00BCZNK076 USD VGMSDID
R Shares Accumulating IE00BQSBJZ46 USD VGMSDRA
R Shares Distributing IE00BQSBJX22 EUR VIMSDRE
R Shares Distributing IE00BQSBK068 USD VGMSDRD

Process


Step 1:
Sector Analysis & Allocation

> Top down, relative value approach

> Relative value analysis looks at:

– yield and spreads
– supply and demand
– investment environment
– sector fundamentals


Step 2:

Issue Selection

> Bottom up, fundamental research driven

> Fundamental analysis includes assessment of:

– credit risk
– company management
– issue structure
– technical market conditions
– focus on valuations

Step 3:
Portfolio Construction, Oversight, and Risk Management

> Duration neutral strategy
> Sector concentration
> Issuer exposure
> Non-U.S. exposure
> Manager review
> Systematic review

Investment Professional

David Albrycht, CFA

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2013

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