HARTFORD, Conn., Jan. 7, 2013 /PRNewswire/ --Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, today reported preliminary flows and assets under management for its long-term, open-end mutual funds for the fourth quarter and full year of 2012:
($ millions) | Quarter Ending 12/31/12 | Year Ending 12/31/12 | |
Assets under management, beginning of period | $ 23,615.7 | $ 16,896.6 | |
Inflows | 3,393.4 | 12,340.9 | |
Outflows | (1,646.7) | (5,921.7) | |
Net Flows | 1,746.7 | 6,419.2 | |
Market Appreciation | 475.1 | 2,542.0 | |
Other (1) | (10.4) | (30.7) | |
Assets under management, end of period | $ 25,827.1 | $ 25,827.1 | |
(1) Includes dividend distributions, impact on assets from use of leverage | |||
Full-year sales of $12.3 billion represent an annual sales rate of 73 percent and full-year net flows of $6.4 billion represent an annual organic growth rate of 38 percent.
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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. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Its affiliated managers include Duff & Phelps Investment Management Co., Euclid Advisors LLC, Kayne Anderson Rudnick Investment Management, LLC, Newfleet Asset Management, LLC, Newfound Investments, LLC, Rampart Investment Management Co., LLC, and Zweig Advisers LLC. Additional information can be found at www.virtus.com.
SOURCE Virtus Investment Partners, Inc.
