Virtus GF Select High Yield Fund

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.


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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 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

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 Investing: Investing in foreign securities subjects the portfolio to additional risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information about the foreign investment; 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.
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 (e.g., Russia's invasion of Ukraine), acts of terrorism, the spread of infectious illness (e.g., COVID-19 pandemic) or other public health issues, 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 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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