HARTFORD, Conn., July 9, 2018 /PRNewswire/ -- Virtus Global
Multi-Sector Income Fund (NYSE: VGI) previously announced the
following monthly distribution on May 23,
2018:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.126
|
July 11,
2018
|
July 12,
2018
|
July 19,
2018
|
Under the terms of the fund's 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 2018
(MTD)
|
Year-to-date
(YTD)(1)
|
(Sources)
|
Per
Share
Amount
|
Percentage of
Current Distribution
|
Per Share
Amount
|
Percentage
of Current
Distribution
|
Net Investment
Income
|
$
0.060
|
47.9%
|
$
0.444
|
41.8%
|
Net Realized
Short-Term Capital Gains
|
-
|
0.0%
|
-
|
0.0%
|
Net Realized
Long-Term Capital Gains
|
-
|
0.0%
|
-
|
0.0%
|
Return of Capital (or
other Capital Source)
|
0.066
|
52.1%
|
0.618
|
58.2%
|
Total
Distribution
|
$
0.126
|
100.0%
|
$
1.062
|
100.0%
|
(1) YTD December 1, 2017 to
November 30, 2018.
|
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.
As of June 29,
2018
|
|
|
Average Annual Total
Return on NAV for the 5 year period (2)
|
5.88%
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
10.57%
|
YTD Cumulative Total
Return on NAV (4)
|
-10.27%
|
YTD Cumulative
Distribution Rate (5)
|
7.43%
|
|
|
|
|
(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 month
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 month 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 month end as a percentage of the
fund's NAV at month 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
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. The Fund also
pursues an options overlay strategy that seeks to generate
additional income. It is managed by Newfleet Asset
Management, LLC, an affiliated manager of Virtus Investment
Partners, Inc. that specializes in multi-sector fixed income
investing. 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. The options
overlay strategy may not be successful in achieving its objective
of increasing distributable income while limiting the risk of loss
and, in periods of significant moves in the S&P 500® Index, has
resulted in, and in the future, may result in, losses for
investors. Shares of closed-end funds may trade at a discount
to their net asset value. For more information about each 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 end of this press release.
About Newfleet Asset Management
Newfleet Asset Management, an affiliated manager of Virtus
Investment Partners, provides comprehensive fixed income portfolio
management in multiple strategies. The Newfleet Multi-Sector
Strategies team that manages the Virtus Global Multi-Sector Income
Fund leverages the knowledge and skill 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. The options overlay
strategy is managed by a team at Newfleet distinct from the fixed
income investment professionals. 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 Global Multi-Sector Income Fund