VIRTUS INVESTMENT PARTNERS, INC. HARTFORD, Conn., Sept. 1, 2017 /PRNewswire/ -- Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced the following monthly distribution:
Amount of
Distribution Ex-Date Record Date Payable Date
------------ ------- ----------- ------------
$0.156 September 8, 2017 September 11, 2017 September 18, 2017
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Under the terms of the fund's managed distribution plan, the fund will seek to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the fund's assets and will constitute a return of the shareholder's capital. You should not draw any conclusions about the fund's investment performance from the amount of this distribution or from the terms of the fund's managed distribution plan.
The fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the fund's investment performance and should not be confused with 'yield' or 'income'.
The fund provided this estimate of the sources of the distributions:
Distribution Estimates August 2017 (MTD) Year-to-date (YTD)(1)
---------------------- ---------------- --------------------
Per Share Percentage of Current
Distribution Per Share Amount Percentage
Amount of Current Distribution
(Sources)
--------
Net Investment Income $0.072 46.4% $0.685 48.8%
--------------------- ------ ---- ------ ----
Net Realized Short-Term Capital Gains 0.036 22.7% 0.203 14.5%
------------------------------------- ----- ---- ----- ----
Net Realized Long-Term Capital Gains 0.048 30.9% 0.278 19.8%
------------------------------------ ----- ---- ----- ----
Return of Capital (or other Capital Source) - 0.0% 0.238 16.9%
------------------------------------------ --- --- ----- ----
Total Distribution $0.156 100.0% $1.404 100.0%
------------------ ------ ----- ------ -----
(1) YTD December 1, 2016 to
November 30, 2017.
Information regarding the fund's performance and distribution rates is set forth below. Please note that all performance figures are based on the fund's NAV and not the market price of the fund's shares. Performance figures are not meant to represent individual shareholder performance.
As of August
31, 2017
-------------
Average Annual Total Return on
NAV since inception (2) 8.86%
------------------------------ ----
Current Fiscal YTD Annualized
Distribution Rate (3) 10.73%
----------------------------- -----
YTD Cumulative Total Return on
NAV (4) 14.24%
------------------------------ -----
YTD Cumulative Distribution Rate
(5) 8.05%
-------------------------------- ----
(2) Average Annual Total Return on NAV is
the annual compound return from the
commencement of the fund's operations
on February 23, 2012. It reflects the
change in the fund's NAV and
reinvestment of all distributions.
(3) Current Fiscal YTD Annualized
Distribution Rate is the current
distribution rate annualized as a
percentage of the fund's NAV at month
end.
(4) YTD Cumulative Total Return on NAV is
the percentage change in the fund's
NAV from the first day of the year to
this month end, including
distributions paid and assuming
reinvestment of those distributions.
(5) YTD Cumulative Distribution Rate is the
dollar value of distributions from the
first day of the year to this month
end as a percentage of the fund's NAV
at month end.
The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions will depend on the fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The fund or your broker will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders what distributions to report for federal income tax purposes.
About the Fund
The Virtus Global Multi-Sector Income Fund seeks to maximize current income while preserving capital by giving investors an opportunity to benefit from broadly diversified holdings across the major domestic and international fixed-income sectors. It is managed by Newfleet Asset Management, LLC, an affiliated manager of Virtus Investment Partners, Inc. that specializes in multi-sector fixed income investing. For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the closed end fund section on the web at www.virtus.com.
An investment in the fund is subject to risk. The fund's shares may be worth less than what an investor paid for them when they are sold. The options strategy may not be successful in its objective of increasing distributable income while limiting the risk of loss and could result in increased losses for investors.
Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a discount to their net asset value. For more information about each fund's investment objective and risks, please see the fund's annual report. A copy of the fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.
About Newfleet Asset Management
Newfleet Asset Management, an affiliated manager of Virtus Investment Partners, provides comprehensive fixed income portfolio management in multiple strategies. The Newfleet Multi-Sector Strategies team that manages the Virtus Global Multi-Sector Income Fund leverages the knowledge and skill 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, avoiding interest rate bets and remaining duration neutral to each strategy's stated benchmark.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. For more information visit www.virtus.com.
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SOURCE Virtus Global Multi-Sector Income Fund
