HARTFORD, Conn., Nov. 14, 2018 /PRNewswire/ -- Virtus Global
Multi-Sector Income Fund (NYSE: VGI) announced the following
monthly distributions:
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
$0.126
|
December 12,
2018
|
December 13,
2018
|
December 20,
2018
|
$0.126
|
January 4,
2019
|
December 31,
2018
|
January 9,
2019
|
$0.126
|
February 8,
2019
|
February 11,
2019
|
February 19,
2019
|
For record date December 31,
2018, the fund intends to distribute the greater of
$0.126 per share or all available net
investment income and net short and long term capital gains, in
accordance with requirements under the Internal Revenue Code of
1986, as amended. The amount of any supplemental distribution over
the $0.126 per share, if any, will be
announced on January 2,
2019.
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
|
October 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
|
$
0.054
|
43.2%
|
$
0.669
|
42.7%
|
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)
|
0.072
|
56.8%
|
0.897
|
57.3%
|
Total Distribution
|
$
0.126
|
100.0%
|
$
1.566
|
100.0%
|
(1) YTD December 1, 2017 to
November 30, 2018.
Information regarding the fund's
performance and distribution rates is set forth below. Pleas
e 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 October 31 ,2018
|
Average Annual Total
Return on NAV for the 5 year period(2)
|
4.47%
|
Current Fiscal YTD
Annualized Distribution Rate (3)
|
11.16%
|
YTD Cumulative Total
Return on NAV (4)
|
-11.66%
|
YTD Cumulative
Distribution Rate(5)
|
11.56%
|
(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 f und'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 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 fixed income portion of the Fund is
managed by Newfleet Asset Management, LLC, an affiliated manager of
Virtus Investment Partners, Inc. that specializes in multi-sector
fixed income investing. The Fund also pursues an options overlay
strategy that seeks to generate additional income. This
strategy is managed by Rampart Investment Management, also an
affiliated manager of Virtus Investment Partners, Inc. 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 top 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. For
more information, visit
www.newfleet.com.
About Rampart Investment Management
Rampart Investment Management
is an affiliated manager of Virtus Investment Partners
specializing in option strategies. A registered investment adviser
since 1983, Rampart manages client positions and portfolios using
domestic and international index and equity options.
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/virtus-global-multi-sector-income-fund-declares-distributions-300750478.html
SOURCE Virtus Global Multi-Sector Income Fund