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PFSRX Virtus Newfleet Senior Floating Rate C

  • Fund
  • PFSRX
  • Price as of: Dec 14, 2017
  • $9.43
  • - $0.00
  • - 0.00%
  • Category
  • Bank Loan

PFSRX - Profile

Vitals

  • YTD Return -0.9%
  • 3 Yr Annualized Return 2.2%
  • 5 Yr Annualized Return 2.6%
  • Net Assets $556 M
  • Holdings in Top 10 11.2%

52 WEEK LOW AND HIGH

$9.43
$9.41
$9.56

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.99%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 48.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$100

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.92%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Virtus Newfleet Senior Floating Rate Fund
  • Fund Family Name Virtus
  • Inception Date Jan 31, 2008
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Francesco Ossino

Fund Description

The fund offers the potential for attractive total return and income by investing primarily in non-investment grade bank loans with a focus on higher quality companies within a rating tier. Under normal circumstances, it will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a portfolio of senior floating rate loans ("Senior Loans"). The fund may invest up to 15% of total assets in U.S. and non-U.S. dollar denominated foreign securities and foreign Senior Loans, including Yankee bonds.

PFSRX - Performance

Return Ranking - Trailing

Period PFSRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.9% -2.8% 4.4% 62.56% 5
1 Yr 3.3% -1.0% 12.4% 86.79% 5
3 Yr 2.2% * -0.3% 5.7% 86.54% 5
5 Yr 2.6% * 0.8% 5.8% 87.64% 5
10 Yr N/A * 0.3% 6.0% N/A N/A

* Annualized


Return Ranking - Calendar

Period PFSRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 4.5% -5.3% 7.9% 35.41% 3
2015 -4.6% -12.2% 0.0% 32.85% 3
2014 -3.4% -6.9% 0.0% 38.54% 3
2013 0.7% -1.3% 12.5% 44.89% 4
2012 3.5% 0.0% 11.2% 44.58% 4

Total Return Ranking - Trailing

Period PFSRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.9% -2.8% 4.4% 62.56% 5
1 Yr 2.3% -2.0% 12.4% 71.70% 4
3 Yr 2.2% * -0.4% 5.7% 76.92% 4
5 Yr 2.6% * 0.8% 5.8% 83.15% 5
10 Yr N/A * 0.3% 6.0% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period PFSRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 4.5% -5.3% 10.8% 46.41% 4
2015 -4.6% -12.2% 2.9% 40.10% 3
2014 -3.2% -6.9% 2.9% 43.41% 3
2013 0.7% -1.3% 12.5% 52.27% 4
2012 3.5% 0.0% 16.9% 50.60% 4

NAV & Total Return History

PFSRX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

PFSRX Category Low Category High PFSRX % Rank Quintile
Net Assets 556 M 24.5 M 14.3 B 20.75% 4
Number of Holdings 353 63 1602 14.15% 3
Net Assets in Top 10 65.8 M -331 M 1.84 B 20.28% 4
Weighting of Top 10 11.2% 5.5% 224.2% 14.15% 3

Top 10 Holdings

  1. Univision Communications 1533627 1.82%
  2. LEVEL 3 FINANCING INC 3.28370% 02/15/2024 1512933 1.48%
  3. Ineos Us Finance Llc 1518752 1.16%
  4. Upc Financing Partnership 04/15/2025 1500393 1.02%
  5. Transdigm Inc 1381295 1.02%
  6. Hilton Worldwide Finance 1414145 0.97%
  7. Valeant Pharmaceuticals 1221559 0.96%
  8. Dell International Llc 09/07/2023 1501767 0.95%
  9. First Data Corp 1562886 0.92%
  10. Nrg Energy Inc 1380889 0.86%

Asset Allocation

Weighting Category Low Category High PFSRX % Rank Quintile
Bonds
98.67% 5.65% 143.45% 2.83% 1
Cash
0.81% -48.03% 87.26% 24.06% 4
Stocks
0.52% 0.00% 8.49% 8.49% 2
Preferred Stocks
0.00% 0.00% 6.23% 8.49% 3
Other
0.00% -2.46% 10.53% 23.11% 5
Convertible Bonds
0.00% 0.00% 4.10% 7.08% 3

Stock Sector Breakdown

Weighting Category Low Category High PFSRX % Rank Quintile
Utilities
0.51% 0.00% 0.51% 0.56% 1
Energy
0.01% 0.00% 1.33% 10.17% 3
Technology
0.00% 0.00% 0.02% 1.13% 1
Real Estate
0.00% 0.00% 0.61% 4.52% 2
Industrials
0.00% 0.00% 0.30% 2.82% 2
Healthcare
0.00% 0.00% 0.52% 2.26% 1
Financial Services
0.00% 0.00% 0.14% 1.69% 1
Communication Services
0.00% 0.00% 0.13% 3.95% 1
Consumer Defense
0.00% 0.00% 0.13% 3.39% 1
Consumer Cyclical
0.00% 0.00% 0.85% 10.17% 4
Basic Materials
0.00% 0.00% 1.46% 9.60% 3

Stock Geographic Breakdown

Weighting Category Low Category High PFSRX % Rank Quintile
US
0.52% 0.00% 8.49% 7.55% 2
Non US
0.00% 0.00% 0.50% 6.60% 3

Bond Sector Breakdown

Weighting Category Low Category High PFSRX % Rank Quintile
Corporate
82.87% 27.44% 101.23% 24.53% 5
Cash & Equivalents
0.61% -46.73% 164.55% 22.64% 5
Securitized
0.15% 0.00% 52.04% 13.68% 3
Derivative
0.00% -33.31% 19.29% 4.25% 2
Municipal
0.00% 0.00% 1.96% 2.83% 2
Government
0.00% -115.02% 47.76% 4.25% 2

Bond Geographic Breakdown

Weighting Category Low Category High PFSRX % Rank Quintile
US
87.07% -54.19% 111.71% 6.13% 2
Non US
11.60% 0.00% 78.18% 16.51% 3

PFSRX - Expenses

Operational Fees

PFSRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.99% 0.49% 2.62% 3.77% 5
Management Fee 0.45% 0.00% 1.00% 9.91% 1
12b-1 Fee 1.00% 0.00% 1.00% 0.66% 4
Administrative Fee 0.10% 0.03% 0.40% 7.63% 2

Sales Fees

PFSRX Fees (% of AUM) Category Low Category High PFSRX Rank Quintile
Front Load N/A 0.75% 4.75% N/A N/A
Deferred Load 1.00% 1.00% 5.00% 9.09% 1

Trading Fees

PFSRX Fees (% of AUM) Category Low Category High PFSRX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PFSRX Fees (% of AUM) Category Low Category High PFSRX Rank Quintile
Turnover 48.00% 13.00% 243.00% 16.51% 2

PFSRX - Distributions

Dividend Yield Analysis

PFSRX Category Low Category High PFSRX % Rank Quintile
Dividend Yield 0.3% 0.14% 1.63% 50.72% 4

Dividend Distribution Analysis

PFSRX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PFSRX Category Low Category High PFSRX % Rank Quintile
Net Income Ratio 2.92% 1.66% 6.09% 60.38% 5

Capital Gain Distribution Analysis

PFSRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

PFSRX - Managers

Francesco Ossino

Manager

Start Date

Aug 01, 2012

Tenure

5.33

Tenure Rank

9.4%

Mr. Ossino is Senior Managing Director and Sector Head of the Bank Loan asset class at Newfleet, with a primary focus on floating rate bank loan products. Prior to joining Virtus in August 2012, Mr. Ossino was a portfolio manager at Hartford Investment Management Company (2004-2012), where he managed mutual funds focused on bank loans and a commingled bank loan portfolio for institutional investors. Previously, he held a variety of credit analyst and portfolio management positions at CIGNA (2002-2004), HVB Bank (2000-2002) and FleetBoston Financial (1996-2000).


Kyle A. Jennings

Manager

Start Date

Jan 31, 2008

Tenure

9.84

Tenure Rank

3.6%

Kyle A. Jennings, CFA. Mr. Jennings is Portfolio Manager – Bank Loan Sector of Newfleet (since June 2011). Until June 2011, he was Managing Director (2008 to 2011) and 2nd Vice President (2005 to 2008) of Goodwin. Previously, he was associated with VIA, at which time it was an affiliate of Goodwin, and was a member of the corporate research team since 1998. Mr. Jennings is the sector manager for the leveraged loan sector and assists in formulation of the leveraged loan finance strategy for the retail multi-sector funds.


David L. Albrycht

Manager

Start Date

Jan 31, 2008

Tenure

9.84

Tenure Rank

3.6%

David L. Albrycht, CFA. Mr. Albrycht is Chief Investment Officer – Multi-Sector Fixed Income Strategies at Newfleet (since June 2011). Until June 2011, he was Executive Managing Director (2008 to 2011) and Vice President (2005 to 2008), Fixed Income, of Goodwin Capital Advisers, Inc. (“Goodwin”). Previously, he was associated with VIA, at which time it was an affiliate of Goodwin. He managed fixed income portfolios for Goodwin affiliates since 1991.


Tenure Analysis

Category Low

0.2

Category High

21.3

Category Average

6.3

Category Mode

2.9