Virtus KAR International Small-Mid Cap Fund
VIISX
NASDAQ- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- Virtus KAR International Small-Mid Cap Fund (VIISX) is an open-end mutual fund that seeks capital appreciation by investing at least 80% of its assets in equity securities of non-U.S. small- and mid-capitalization companies exhibiting durable competitive advantages, excellent management, lower financial risk, and strong growth trajectories. The fund employs a disciplined, bottom-up investment process emphasizing high-quality businesses with solid balance sheets, consistent profitability, high returns on capital, strong free cash flow, and attractive valuations; it maintains a high-conviction portfolio of 30 to 60 holdings characterized by low turnover and lower volatility relative to peers in the foreign small/mid growth category. Key portfolio characteristics include an average weighted market capitalization of $4.06 billion, a median market cap of $1.79 billion, trailing P/E ratio (ex-negative earnings) of 17.25, and sector allocations led by communication services (approximately 24%), industrials (23%), and financials (17%), with top country exposures in the United Kingdom, Eurozone, and Japan. Managed by Kayne Anderson Rudnick Investment Management, LLC (KAR), a subsidiary affiliate of Virtus Investment Partners, Inc., the fund features co-portfolio managers Craig Thrasher (since inception) and Hyung Kim (since 2018); KAR, founded in 1984 and based in Los Angeles, California, specializes in quality-focused equity strategies across market caps and geographies. The fund, launched on September 5, 2012, and domiciled in the United States, offers institutional Class I shares (VIISX) with a minimum initial investment of $100,000, a net expense ratio of 1.18%, and total net assets exceeding $968 million as of December 2025. It targets investors seeking exposure to international small- and mid-cap growth equities, primarily in developed and emerging markets outside the U.S., including Europe, Japan, and emerging Asia. Recent developments include a prospectus supplement announcing that, effective January 21, 2026, Class C shares (VISAX) will no longer be available for purchase by new or existing shareholders, reflecting a strategic streamlining of share classes. The fund previously underwent a name change from Virtus KAR International Small Cap Fund and a merger in October 2021, wherein it acquired the assets of Virtus KAR International Small-Mid Cap Fund II, expanding its scope to explicitly include mid-cap companies. In Q3 2025, the fund delivered a net return of -4.98% for Class I shares, underperforming the MSCI All Country World Ex USA Small-Mid Cap Index amid market volatility, while maintaining its focus on high-quality holdings such as Baltic Classifieds Group PLC, AJ Bell PLC, and Corporacion Moctezuma SAB de CV. No major acquisitions, funding rounds, or new product launches specific to VIISX were reported in 2024-2025, though Virtus KAR launched related strategies like the Virtus KAR Mid-Cap ETF in October 2024.