Virtus GF Select High Yield Fund

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UCITS Fixed Income Leveraged Finance

Virtus GF Select High Yield Fund

Domicile
Ireland
Valuation
Daily
Inception Date
(Class I Acc.)
12/6/18
Total Expense Ratio
(Class I)
0.75%1
UCITS
Yes
Base Currency
USD
Convenience Pricing
EUR, GBP
Index
ICE BofA U.S. High Yield Cash Pay Index
1 The Investment Manager has currently voluntarily undertaken to limit the aggregate annual ordinary expenses of the Fund’s Class I shares to 0.75%. The Investment Manager may terminate or modify this undertaking at any time at its sole discretion upon advance notice to the Fund’s shareholders.

Product Overview

Investment Partner

Seix Investment Advisors

Seix Investment Advisors is an investment management boutique focused exclusively on managing fixed income securities since 1992. Seix seeks to generate competitive absolute and relative risk-adjusted returns over the full market cycle through a bottom-up focused, top-down aware process. Seix employs multi-dimensional approaches based on strict portfolio construction methodology, sell disciplines and trading strategies with prudent risk management as a cornerstone.

Seix Investment Advisors is a division of Virtus Fixed Income Advisers, LLC ("VFIA"), an SEC registered investment adviser.


Learn more about Seix Investment Advisors

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

Investment Overview

  • The strategy seeks high current income and total return by investing primarily in high yield corporate bonds and other U.S. dollar denominated debt instruments of U.S. and non-U.S. issuers, with up to 100% of assets invested in securities rated below investment grade.
  • A sound, transparent, and repeatable process leverages competitive advantages and aims to capture upside potential while limiting downside risk.
  • Investors invest in shares of the Fund. The Fund is suitable for long-term investors able to withstand investment risks associated with investing in below investment grade bonds while seeking high current income and the opportunity for capital appreciation to produce a high total return. Investors should be prepared to accept a moderate level of volatility.
  • The Fund is actively managed. The Fund uses the ICE BofA US High Yield Cash Pay Index as a comparator benchmark but not to constrain portfolio composition or as a target for performance.

This fund is registered in the following country: the UK

Risk Considerations

Liquidity: Certain instruments may be difficult or impossible to sell at a time and price beneficial to the portfolio, which could impact the ability to meet redemption requests upon demand.
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.
Contractual Obligations: A party with whom the Fund contracts for securities may fail to meet its obligations or become bankrupt which may expose the Fund to a financial loss.
Interest Rate: The values of debt instruments may rise or fall in response to changes in interest rates, and this risk may be enhanced for securities with longer maturities.
Market Volatility: The value of 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.
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.
Operational Risk: Material losses to the Fund may arise as a result of human error, system and/or process failures, inadequate procedures or controls.
Prospectus: For more information in relation to these and other risks, please refer to the 'Characteristics and Risks of Securities and Investment Techniques' section of the prospectus.

Fund Codes

Share Class ISIN Currency Bloomberg
A Shares Accumulating IE00BF5J4483 USD VGSHYAA
A Shares Distributing IE00BF5J4590 USD VGSHYAD
C Shares Accumulating IE00BF5J4B55 USD VGSHYCA
C Shares Distributing IE00BF5J4C62 USD VGSHYCD
I Shares Accumulating IE00BF5J4J32 USD VGSHYIA
I Shares Distributing IE00BF5J4K47 USD VGSHYID
R Shares Accumulating IE00BF5J4Q09 USD VGSHYRA
R Shares Distributing IE00BF5J4R16 USD VGSHYRD

Key Features

Higher Quality High Yield

Emphasizes BB- and B-rated corporate bonds; seeks to invest in the most undervalued credits in the non-investment-grade space with solid fundamentals, as identified through extensive bottom-up credit research

Diversification

High yield bonds may offer minimal correlation to investment grade fixed income sectors and only modest correlation to equities

Risk Management

Strict focus on bottom-up credit research, controls around portfolio construction, sell discipline, and trading strategy in an effort to mitigate downside exposure

Investment Professionals

Michael Kirkpatrick - 400x400

Michael Kirkpatrick

Managing Director, Senior Portfolio Manager

Industry start date: 1991
Start date as fund Portfolio Manager: 2018

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James FitzPatrick

James FitzPatrick, CFA

Managing Director, Head of Leveraged Finance Trading, Portfolio Manager

Industry start date: 1996
Start date as fund Portfolio Manager: 2018

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Related Literature

Marketing Materials

Virtus GF Select High Yield Fund Fact Sheet
Virtus GF Select High Yield Fund Fact Sheet - Spanish
Virtus GF Select High Yield Fund Commentary
Virtus GF Select High Yield Fund Presentation
High Yield Spread Widening: Waiting for Godot

Fund Resources

Virtus Global Funds UCITS Daily NAV Report
Virtus GF Select High Yield Fund Performance Report
2023 GF Select High Yield Fund Distribution Calendar
Virtus Global Funds Codes & Fee Schedule
Virtus Global Funds Distribution Contact Info
2024 Virtus Global Funds Distribution Calendar
2024 Virtus Global Funds Holiday Calendar
Morningstar - Quarterly Ratings - Virtus Global Funds
High Yield Spread Widening: Waiting for Godot
Virtus Global Funds plc Redemption Form
Virtus Global Funds plc Application Form
Virtus Global Funds plc Additional Subscription Form
Virtus Global Funds Shareholder Engagement Policy
Virtus Global Funds Privacy Notice
Virtus Global Funds Cookie Policy

Regulatory Documents

Virtus Global Funds plc Prospectus
Virtus Global Funds PLC UK Country Supplement
Virtus GF Select High Yield Fund Supplement
Virtus Global Funds plc Semiannual Report
Virtus Global Funds plc Annual Report
Virtus Global Funds Consolidated Prospectus - Germany

Holdings

Virtus GF Select High Yield Fund Monthly Holdings

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 PRIIPS KID/KIID 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.

NOT FOR SALE IN THE U.S. OR TO U.S. PERSONS