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Rating:Virtus Teams Up with a Londoner Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 20, 2010

Virtus Teams Up with a Londoner

Reported by Armie Margaret Lee

Virtus Investment Partners [see profile] has rolled out the Virtus International Equity Fund. The fund's sub-adviser is London-based Pyrford International, a subsidiary of Bank of Montreal. [ SEC filing].

Expense ratios are 150 basis points for the mutual fund's Class A shares, 225 bps for C shares and 125 bps for I shares.
Company Press Release

Virtus Launches International Equity Fund
Selects Pyrford International as Fund Subadviser

HARTFORD, Conn., Sept. 20 -- Virtus Investment Partners (Nasdaq: VRTS), which operates a multi-manager asset management business, has launched the Virtus International Equity Fund (Class A: VIEAX).

The new fund is subadvised by Pyrford International, a London-based investment management firm with a strong history of utilizing a benchmark-agnostic, high-quality approach to international investing.

"Broadening exposure to international markets is a strategy that many financial advisors and their clients embrace," said Frank Waltman, executive vice president, product management, at Virtus. "The addition of the Pyrford-managed fund will complement our existing product line and offer our clients greater choice for the international allocation in their portfolio."

The fund invests in 15-20 countries in both developed and emerging markets. The investment process begins with country selection, which Pyrford believes is the greatest driver of alpha and the most significant contributor to beta reduction. At the stock level, a disciplined, fundamental process is employed to identify companies that offer specific value to the portfolio, relative to their potential long-term earnings growth.

"Pyrford is very excited about this new opportunity to make our international equity strategy available to retail clients in the U.S. For more than a decade, our strategy has a proven track record of delivering excellent long-term investment returns with reduced risk," said Tony Cousins, CFA, joint chief investment officer of Pyrford International. "We look forward to working with Virtus in launching this new product and building a long-term relationship that will benefit both of our organizations and, most importantly, our mutual clients."

The fund is co-managed by Cousins; Bruce Campbell, chief executive officer and joint chief investment officer; Paul Simons, CFA, head of portfolio management, Asia Pacific; and Daniel McDonagh, CFA, head of portfolio management, Europe/UK.

About Pyrford International and Harris Investment Management, Inc.

Pyrford International, a wholly owned subsidiary of the Bank of Montreal, is an investment management firm based in the United Kingdom providing international asset management services for its clients. Pyrford is part of BMO's private client group, which provides wealth management services in North America and the markets in which Pyrford additionally operates: Middle East, UK and Europe. Both Pyrford International and Harris Investments are registered investment advisors with the SEC. Harris Investments is wholly owned by Harris Bankcorp Inc., which is an indirect wholly owned subsidiary of Bank of Montreal. Pyrford and Harris Investments are part of BMO Asset Management™, the umbrella group for BMO Financial Group's institutional investment management companies, which offer a range of investment management products and services to retail and institutional clients globally.

About Virtus Investment Partners, Inc.

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, which had $25.1 billion under management as of June 30, 2010, 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. Additional information can be found at www.virtus.com.

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