HARTFORD, Conn., Sept. 13, 2017 /PRNewswire/ -- The Virtus Total
Return Fund Inc. (NYSE: ZF) announced the following quarterly
distribution:
|
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
|
$0.361
|
October 11,
2017
|
October 12,
2017
|
October 19,
2017
|
Under the terms of its managed distribution plan, the fund will
seek to maintain a consistent distribution level that may be paid
in part or in full from net investment income and realized capital
gains, or a combination thereof. Shareholders should note, however,
that if the fund's aggregate net investment income and net realized
capital gains are less than the amount of the distribution level,
the difference will be distributed from the fund's assets and will
constitute a return of the shareholder's capital. You should not
draw any conclusions about the fund's investment performance from
the amount of this distribution or from the terms of the fund's
managed distribution plan.
The fund estimates that it has distributed more than its income
and capital gains; therefore, a portion of your distribution may be
a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the
fund is paid back to you. A return of capital distribution
does not necessarily reflect the fund's investment performance and
should not be confused with 'yield' or 'income'.
The fund provided this estimate of the sources of the
distributions:
|
Distribution
Estimates
|
June 2017
(QTD)
|
Year-to-date
(YTD) (1)
|
|
(Sources)
|
Per
Share
Amount
|
Percentage
of Current
Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
|
Net Investment
Income
|
$
0.124
|
34.5%
|
$
0.232
|
32.1%
|
|
Net Realized Foreign
Currency Gains
|
-
|
0.0%
|
-
|
0.0%
|
|
Net Realized
Short-Term Capital Gains
|
0.054
|
14.9%
|
0.121
|
16.7%
|
|
Net Realized
Long-Term Capital Gains
|
0.183
|
50.6%
|
0.342
|
47.4%
|
|
Return of Capital (or
other Capital Source)
|
-
|
0.0%
|
0.027
|
3.8%
|
|
Total
Distribution
|
$
0.361
|
100.0%
|
$
0.722
|
100.0%
|
|
|
|
(1)
|
YTD January 11, 2017
to November 30, 2017. (The distribution paid on January 10,
2017 was reportable for tax on Form 1099 in 2016)
|
Information regarding the fund's performance and distribution
rates is set forth below. Please note that all performance figures
are based on the fund's NAV and not the market price of the fund's
shares. Performance figures are not meant to represent individual
shareholder performance.
|
June 30,
2017
|
|
|
|
Average Annual
Total Return on NAV for the 5-year period ended this quarter
(2)
|
13.01%
|
|
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
10.75%
|
|
|
YTD Cumulative
Total Return on NAV (4)
|
19.20%
|
|
|
YTD Cumulative
Distribution Rate (5)
|
5.38%
|
|
|
(2)
|
Average Annual Total
Return on NAV is the annual compound return for the five-year
period. It reflects the change in the
fund's NAV and reinvestment
of all distributions.
|
|
(3)
|
Current Fiscal YTD
Annualized Distribution Rate is the current distribution
rate annualized as a
percentage of the fund's NAV at quarter end.
|
|
(4)
|
YTD Cumulative Total
Return on NAV is the percentage change in the fund's NAV from the
first day of the year to this quarter end, including distributions
paid and assuming reinvestment of those distributions.
|
|
(5)
|
YTD Cumulative
Distribution Rate is the dollar value of distributions from the
first day of the year to this quarter end as a percentage of the
fund's NAV at quarter end.
|
|
|
|
|
The amounts and sources of distributions reported in this notice
are estimates only and are not being provided for tax reporting
purposes. The actual amounts and sources of the distributions will
depend on the fund's investment experience during the remainder of
its fiscal year and may be subject to changes based on tax
regulations. The fund or your broker will send shareholders a Form
1099-DIV for the calendar year that will tell shareholders what
distributions to report for federal income tax purposes.
About the Fund
The Virtus Total Return Fund Inc. (formerly known as, The Zweig
Fund, Inc.) is a diversified closed-end fund and its investment
objective is capital appreciation, with income as a secondary
objective. Virtus Investment Advisers, Inc. has been the investment
adviser, and Duff & Phelps Investment Management Co. and
Newfleet Asset Management, LLC have been subadvisers, to the fund
since December 9, 2011. Performance
and characteristics prior to that date were attained by the
previous adviser using a different investment strategy.
For more information on the fund, 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.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund's shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a discount to their net asset value.
For more information about a fund's investment objective and risks,
please see the fund's annual report. A copy of the fund's most
recent annual report may be obtained free of charge by contacting
"Shareholder Services" as set forth at the top of this press
release.
About Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. has more than 35
years of experience managing investment portfolios, including
institutional separate accounts and open- and closed-end funds
investing in utilities, infrastructure, real estate investment
trusts (REITs), and master limited partnerships (MLPs), and
international equity. For more information, visit
www.dpimc.com.
About Newfleet Asset Management
Newfleet Asset Management provides comprehensive fixed income
portfolio management in multiple strategies. Newfleet leverages the
knowledge and skill of a team of investment professionals with
expertise in every sector of the bond market, including evolving,
specialized, and out-of-favor sectors. The team employs active
sector rotation and disciplined risk management to portfolio
construction, avoiding interest rate bets, and remaining duration
neutral to each strategy's stated benchmark. For more information,
visit www.newfleet.com.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive
partnership of boutique investment managers singularly committed to
the long-term success of individual and institutional investors.
For more information visit www.virtus.com.
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SOURCE Virtus Total Return Fund Inc.