HARTFORD, Conn., May 22, 2017 /PRNewswire/ -- The Virtus
Total Return Fund Inc. (NYSE: ZF) today announced that Randle L. Smith, CFA, senior portfolio manager
and senior analyst at Duff & Phelps Investment Management Co.,
a subadviser to the fund, will retire as co-portfolio manager of
the fund, effective June 30,
2017.
Connie M. Luecke, CFA, senior
portfolio manager, of Duff & Phelps and
David L. Albrycht, CFA, chief investment officer, Newfleet
Asset Management, LLC, will continue as the fund's co-portfolio
managers. Duff & Phelps and Newfleet are subadvisers of the
fund.
"Throughout his career at Duff & Phelps, Randle has been an
astute and diligent analyst in the global electric, natural gas,
and transportation infrastructure industries, and his expertise has
served our investors well," said Nathan I.
Partain, president and chief investment officer of Duff
& Phelps. "We wish Randle well and will miss his thoughtful
insight and guidance, and we know that Connie and Dave will
continue to provide fund shareholders the benefit of their
experience and perspective."
About the Fund
The Virtus Total Return Fund Inc. (formerly known as The Zweig
Fund, Inc.) is a diversified closed-end fund whose investment
objective is capital appreciation, with current income as a
secondary objective. The fund has a current target allocation of
approximately 60 percent equity securities, primarily invested
globally in owners/operators of infrastructure in the
communications, utility, energy, and transportation industries, and
40 percent fixed income, designed to generate high current income
and total return through the application of active sector rotation,
extensive credit research, and disciplined risk management. The
fund also pursues an options overlay strategy that seeks to
generate additional income through the use of index-based,
out-of-the money put and call spreads. Virtus Investment Advisers,
Inc. is the investment adviser to the fund and Duff & Phelps
Investment Management Co. and Newfleet Asset Management, LLC are
the subadvisers.
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.
About Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. has more than 35
years of experience managing investment portfolios, including
institutional separate accounts and open- and closed-end funds
investing in utilities, infrastructure, real estate investment
trusts (REITs), and master limited partnerships (MLPs), and
international equity. For more information, visit www.dpimc.com.
About Newfleet Asset Management
Newfleet Asset Management provides comprehensive fixed income
portfolio management in multiple strategies. Newfleet Multi-Sector
Strategies, which manages assets in the Virtus Total Return Fund,
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, avoiding interest rate bets and remaining
duration neutral to each strategy's stated benchmark.
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 the 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" at the phone number or email
address below.
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SOURCE Virtus Total Return Fund Inc.