Even as the markets shook last quarter and money market yields stayed stubbornly low, Virtus Investment Partners
maintained positive net inflows. Yesterday the Hartford, Connecticut-based former Phoenix unit revealed
that it brought in $168.1 million in net inflows in the second quarter of 2010, up from $43.7 million in Q2 2009 but down from $407.2 million in Q2 2010.
Virtus suffered a net loss per diluted share of $0.08 for Q2 2010, following a $0.54 loss in Q2 2009 and a $0.03 profit in Q1 2010. Its AUM dipped from $25.6 billion on March 31, 2010 to $25.1 billion on June 30.
"While the broader equity markets were down 10 percent or more in the quarter, sales in the Virtus Mutual Funds remained strong," stated George Aylward
, president and CEO. Virtus' non-money-market mutual funds brought in net flows of $266.9 million for Q2 2010.
Stay ahead of the news ... Sign up for our email alerts now