Shareholders of the Virtus Short/Intermediate Bond on May 18 voted to replace subadvisor Harris Investment Management with Newfleet Asset Management, and change the name of the fund to Virtus Low Duration, according to a
The fund’s investment objective was also revised to read: “The fund’s investment objective is to provide a high level of total return, including a competitive level of current income, while limiting fluctuations in net asset value due to changes in interest rates.”
David L. Albrycht, chief investment officer — multi-sector fixed income strategies at Newfleet, and Benjamin Caron, managing director at Newfleet, are the new portfolio managers for the fund.
Newfleet has offices in Hartford, CT San Francisco, and managed some $8.1 billion as of December 31, 2011.
