Virtus Total Return Fund announces a share repurchase program. Under the offer, the company will repurchase up to 1,133,020 shares or 5% of the fund’s outstanding shares at a price equal to 98% of its net asset value. The shares acquired by the Fund pursuant to the offer will be retired. The offer will be funded from cash and from sales of securities in the Fund’s investment portfolio. If more than 40% of the fund's outstanding shares are tendered, the fund will purchase shares from tendering shareholders on a pro-rata basis. The offer is not conditioned upon any minimum number of shares being tendered. The offer will close on June 23, 2017, unless extended. As of April 28, 2017, the company had 22,660,409 shares outstanding. Georgeson LLC acted as information agent and Computershare Trust Company, N.A. acted as depositary to the company.