NEW YORK, Aug. 2, 2016 /PRNewswire/ -- Five closed-end
funds managed by affiliates of Virtus Investment Partners (NYSE:
VRTS) today announced the following changes to the membership of
their respective boards of directors:
- Virtus Global Multi-Sector Income Fund (NYSE: VGI), Virtus
Total Return Fund (NYSE: DCA) and Duff & Phelps Select Energy
MLP Fund Inc. (NYSE: DSE) appointed James
B. Rogers, Jr. and R. Keith
Walton as directors. Each board also accepted the
resignation of Thomas F. Mann and
thanked him for his contributions to the funds.
- Duff & Phelps Select Energy MLP and Virtus Global
Multi-Sector Income nominated Brian T.
Zino for election as a director at a special joint meeting
of shareholders that is scheduled for September 16, 2016.
- The Zweig Fund, Inc. (NYSE: ZF) and The Zweig Total Return
Fund, Inc. (NYSE: ZTR) appointed Philip R.
McLoughlin and James M. Oates
as directors. Each board also accepted the resignations of
Christopher Ruddy and William H. Wright and thanked them for their
service to the funds.
Rogers, Walton and Zino are currently members of the boards of
each of the Zweig funds; McLoughlin and Oates, along with
William R. Moyer, are currently
members of the Select Energy MLP, Global Multi-Sector Income, and
Total Return fund boards. George R.
Aylward, president and chief executive officer of Virtus
Investment Partners, is a director of all five funds.
The changes will allow the funds to have coordinated joint board
and shareholder meetings, and are expected to result in long-term
efficiencies and other savings for the funds.
About the Funds
The Virtus Total Return Fund has an objective of total return,
consisting of both capital appreciation and current income. The
fund has been managed since December 9,
2011 by Duff & Phelps Investment Management Co. and
Newfleet Asset Management, LLC, both affiliated managers of Virtus
Investment Partners.
The Virtus Global Multi-Sector Income Fund seeks to maximize
current income while preserving capital by giving investors an
opportunity to benefit from broadly diversified holdings across the
major domestic and international fixed-income sectors. It is
managed by Newfleet Asset Management.
The Duff & Phelps Select Energy MLP Fund invests at least 80
percent of its managed assets in select energy master limited
partnerships (MLPs), which offer exposure to the ongoing energy
renaissance and the reshaping of the U.S. energy economy. It is
managed by Duff & Phelps Investment Management.
The Zweig Fund has an investment objective of capital
appreciation, with income as a secondary objective. The Zweig Total
Return Fund has an investment objective of total return, consisting
of capital appreciation and income. Both funds are advised by Zweig
Advisers LLC.
For more information on the funds, 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.
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SOURCE Virtus Closed-End Funds