Virtus Convertible Fund Institutional
ANNPX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 101 Munson Steet Greenfield MA United States of America 01301
- IPO Date
- Apr 19, 1993
- CIK
- 0001423227
- Website
- virtus.com
- Similar Companies
- Business
- Virtus Convertible Fund Institutional (ANNPX) is an open-end mutual fund that seeks to capture the upside potential of equities with the reduced volatility of fixed income securities by investing primarily in a diversified portfolio of U.S. dollar-denominated convertible securities, including convertible bonds, debentures, notes, preferred stocks, and hybrids that can be converted into equity securities or provide equity participation opportunities such as warrants or options. The fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in these convertible securities, employing a disciplined, fundamental, bottom-up research process to identify issuers with strong operating performance potential, favorable asymmetric risk/reward profiles, and the ability to adapt to market changes; it maintains significant allocations across sectors like technology (30.50%), financials (15.73%), industrials (13.71%), and healthcare (11.33%), with top holdings including Boeing Company 6% Preferred Series A, Wells Fargo 7.5% Non-Cumulative Perpetual Convertible Preferred Series L, and Welltower OP LLC 3.125% notes due 2029. Managed by Voya Investment Management as subadviser since inception, with a team led by Portfolio Managers Justin M. Kass (since 2003), Michael E. Yee and David J. Oberto (since 2022), Ethan Turner (since 2023), and K. Mathew Axline (since 2025), the fund targets institutional investors with a minimum initial investment of $1,000,000 and features a net expense ratio of 0.71%. Launched on April 19, 1993, the Institutional Class (ANNPX) operates within the convertibles category, with total net assets of approximately $1.23 billion and share class assets of $1.01 billion as of recent data. The fund is offered by Virtus Investment Partners, Inc. (NYSE: VRTS), a multi-manager asset management firm founded in 1995 and headquartered at One Financial Plaza in Hartford, Connecticut, which provides investment products and services across multiple disciplines including equities, fixed income, multi-asset solutions, and alternatives through affiliated boutique investment managers and select subadvisers. Virtus Convertible Fund Institutional serves individual and institutional investors primarily in the United States, with a focus on delivering equity-like returns with lower volatility compared to pure equity investments. Recent developments include the addition of K. Mathew Axline, CFA, as a lead portfolio manager effective in 2025, strengthening the management team amid ongoing sector rotations favoring health care, industrials, and financials in Q2 2025 commentary; additionally, effective January 21, 2026, Class C shares will no longer be available for purchase by new or existing shareholders, reflecting a strategic adjustment in share class offerings. Virtus Investment Partners continues its multi-boutique model without noted recent acquisitions, partnerships, or funding rounds specific to this fund, maintaining subadvisory relationships such as with Voya Investment Management. The firm operates globally through entities like Virtus Investment Partners International Ltd. in London but centers U.S.-focused strategies like ANNPX on domestic convertible markets.