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Rating:Virtus Fund Board Reverses Itself on the Fate of a Mid-Cap Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 06, 2010

Virtus Fund Board Reverses Itself on the Fate of a Mid-Cap Fund

Reported by Armie Margaret Lee

In September, the board of trustees of the Virtus Equity Trust unanimously approved a plan to fold the Virtus Mid-Cap Growth Fund into the Mid-Cap Core Fund. Last month, however, the trustees changed their mind.

"As recommended by Management, the Board of Trustees of the Virtus Equity Trust, on behalf of the Virtus Mid-Cap Growth Fund, has voted to not proceed with the proposed combination of the Virtus Mid-Cap Growth Fund with and into another of the Virtus Mutual Funds (the "Reorganization") as previously announced," read the November 24 SEC filing.

The plan to turn all B shares of the Mid-Cap Growth Fund to A shares also was not implemented.

A Virtus spokesperson declined to comment beyond the contents of the filing. 

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