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Rating:Virtus Keeps Flows Positive Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, August 03, 2010

Virtus Keeps Flows Positive

Reported by Neil Anderson, Managing Editor

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. 

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