Virtus Convertible A
ANZAX
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- Virtus Convertible Fund CL A (ANZAX) is a mutual fund managed by Virtus Investment Partners, Inc., that seeks total return through a combination of capital appreciation and current income by investing primarily in convertible securities. The fund allocates assets across a diversified portfolio of convertible bonds, preferred stocks, and common stocks of U.S. and non-U.S. issuers, including high-yield convertibles, equity-linked notes, and warrants; it employs fundamental analysis focusing on credit quality, valuation, and market conditions to select securities across market capitalizations and sectors such as technology, healthcare, consumer discretionary, and financials. Virtus Investment Partners, founded in 1995 and headquartered in Hartford, Connecticut, serves as the investment adviser, with subadvisers including Duff & Phelps Investment Management Co., Inc., and Congress Asset Management Company, LLP, providing specialized expertise in convertible securities and growth-oriented equities. The fund targets institutional and retail investors seeking balanced exposure to equity upside with downside protection through convertible instruments, operating globally with a focus on North American markets but including international holdings. In recent developments, Virtus Investment Partners announced strategic enhancements to its convertible strategies in 2024, including expanded subadvisory capabilities and a portfolio manager transition at Congress Asset Management to bolster performance amid rising interest rates; additionally, the firm completed a merger of certain Virtus funds into ANZAX in late 2023 to streamline offerings and improve economies of scale.