VMSRX: Virtus Aviva Multi-Strategy Trgt Ret R6

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VMSRX Virtus Aviva Multi-Strategy Trgt Ret R6

  • Fund
  • VMSRX
  • Price as of: Oct 15, 2019
  • $9.76 + $0.01 + 0.10%

VMSRX - Profile

Vitals

  • YTD Return 8.8%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $36.2 M
  • Holdings in Top 10 17.5%

52 WEEK LOW AND HIGH

$9.76
$8.89
$9.85

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.70%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 113.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Multialternative

Distributions

  • YTD Total Return 8.8%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.72%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Virtus Aviva Multi-Strategy Target Return Fund
  • Fund Family Name Virtus
  • Inception Date Nov 03, 2016
  • Shares Outstanding N/A
  • Share Class Retirement
  • Currency USD
  • Domiciled Country United States
  • Manager Peter Fitzgerald

Fund Description

The fund seeks to achieve its investment objective by identifying and pursuing multiple "strategies" of the fund's subadviser, which are investment ideas and opportunities across and within a wide range of asset classes. The fund will utilize a large range of investments, including fixed income, currencies, equity, convertible securities (including contingent convertible securities), money market instruments, bank deposits, depositary receipts, collective investment vehicles, exchange-traded funds (ETFs) and derivative instruments to pursue its objective.

VMSRX - Mutual Fund Categories

VMSRX - Performance

Return Ranking - Trailing

Period VMSRX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% -26.4% 43.4% 34.96%
1 Yr -0.1% -30.7% 22.4% 52.59%
3 Yr N/A* -19.7% 30.2% N/A
5 Yr N/A* -15.7% 25.0% N/A
10 Yr N/A* -16.1% 31.1% N/A

* Annualized


Return Ranking - Calendar

Period VMSRX Return Category Return Low Category Return High Rank in Category (%)
2018 -7.2% -33.5% 18.9% 57.28%
2017 -2.2% -30.7% 80.9% 75.79%
2016 N/A -51.7% 39.6% N/A
2015 N/A -34.5% 18.1% N/A
2014 N/A -30.8% 36.2% N/A

Total Return Ranking - Trailing

Period VMSRX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% -26.4% 43.4% 38.21%
1 Yr -0.1% -30.7% 22.4% 50.00%
3 Yr N/A* -19.7% 30.2% N/A
5 Yr N/A* -15.7% 25.0% N/A
10 Yr N/A* -16.1% 31.1% N/A

* Annualized


Total Return Ranking - Calendar

Period VMSRX Return Category Return Low Category Return High Rank in Category (%)
2018 -7.2% -33.5% 18.9% 62.14%
2017 -2.2% -30.7% 80.9% 77.89%
2016 N/A -51.7% 39.6% N/A
2015 N/A -34.5% 18.1% N/A
2014 N/A -30.8% 37.9% N/A

NAV & Total Return History

VMSRX - Holdings

Concentration Analysis

VMSRX Category Low Category High VMSRX % Rank
Net Assets 36.2 M 50.2 K 13.8 B 58.52%
Number of Holdings 195 3 2803 52.73%
Net Assets in Top 10 5.31 M -6.29 B 2.85 B 50.91%
Weighting of Top 10 17.50% 0.0% 1763.8% 70.91%

Top 10 Holdings

  1. Invesco Emerging Markets Sov Debt ETF 5.70%

  2. iShares JP Morgan USD Em Mkts Bd ETF 5.65%

  3. Indonesia (Republic of) 8.25% 2.09%

  4. Ice: (Itraxx.Xo.31.V1) 1.01%

  5. Var Swap - Hang Seng China Ent Index 28.05 - 12/30/21 Swcoir 0.86%

  6. Var Swap - Hang Seng China Ent Index 28.05 - 12/30/19 Swcoir 0.52%

  7. US Ultra Bond (CBT) Sept19 0.44%

  8. Micron Technology Inc 0.43%

  9. Samsung Electronics Co Ltd 0.43%

  10. SK Hynix Inc 0.36%


Asset Allocation

Weighting Return Low Return High VMSRX % Rank
Cash
84.54% 0.56% 1864.05% 32.73%
Bonds
14.80% -1826.91% 74.96% 40.91%
Stocks
0.57% -112.19% 78.54% 71.82%
Preferred Stocks
0.10% 0.00% 7.33% 30.91%
Other
0.00% -171.20% 94.35% 69.09%
Convertible Bonds
0.00% 0.00% 43.43% 78.18%

VMSRX - Expenses

Operational Fees

VMSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.70% 0.63% 14.14% 72.27%
Management Fee 1.30% 0.32% 1.90% 79.26%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.45% 62.50%

Sales Fees

VMSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

VMSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 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.

VMSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 113.00% 0.00% 1298.00% 54.78%

VMSRX - Distributions

Dividend Yield Analysis

VMSRX Category Low Category High VMSRX % Rank
Dividend Yield 1.64% 0.00% 1.80% 4.44%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VMSRX Category Low Category High VMSRX % Rank
Net Income Ratio 0.72% -1.92% 3.69% 33.61%

Capital Gain Distribution Analysis

VMSRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

VMSRX - Managers

Peter Fitzgerald

Manager

Start Date

Tenure

Tenure Rank

Jul 20, 2015

4.2

4.2%

Peter leads our global Multi-asset and Macro investment team and is responsible for the team’s strategic direction. Additionally, he is a portfolio manager of the AIMS Target Return and Target Income funds. Peter is also chair of the Asset Allocation Committee. Peter began his career at Old Mutual in 1995 before joining BNP Wealth Management’s Multi-asset team. He has extensive international experience having worked in Asia, Latin America and Europe. Peter holds a postgraduate diploma in Education from Trinity College Dublin and a degree in European studies from the University of Cork. He is also a CFA® charterholder.


James McAlevey

Manager

Start Date

Tenure

Tenure Rank

Jun 14, 2018

1.3

1.3%

James manages the AIMS Fixed Income and AIMS Target Return Funds. He also leads our rates team. James is a permanent member of the Strategic Investment Group (‘SIG’), where all investment ideas that are proposed for inclusion in the AIMS portfolios are rigorously debated. Prior to joining Aviva Investors, James worked at Henderson Global Investors where he was Head of Interest Rates with a focus on alpha generation in the benchmark agnostic product offering. He previously worked on the hedge fund side of the business, where he gained insight and experience in the use and application of derivatives in an absolute return framework. James holds an MSc in Economics from the University of Bristol and is a CFA® charterholder.


Mark Robertson

Manager

Start Date

Tenure

Tenure Rank

Sep 17, 2018

1.04

1.0%

Mark is responsible for managing our suite of outcome-focused multi-strategy funds as well as leading our multi-strategy investment team. Prior to joining Aviva Investors, Mark was Head of Multi-asset portfolios at NN Investment Partners with responsibility for portfolio construction, risk budgeting and performance. He was also lead manager for the Kronos Multi-strategy portfolios and a co-manager on the absolute return funds. In addition, Mark was Head of the Innovation Lab which looks at implementing new data sets and tools to enhance the investment process. Beforehand, Mark was a portfolio manager at UBS Asset Management. Mark graduated with a Bachelor of Science from the University of Waikato in New Zealand and a Master of Applied Finance from Macquarie University in Sydney.


Tenure Analysis

Category Low

0.14

Category High

38.77

Category Average

4.06

Category Mode

0.91