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Rating:Fund Sales Lift Virtus to a New Record Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, May 02, 2012

Fund Sales Lift Virtus to a New Record

by: Erin Kello

Virtus [profile] just made its strongest earnings showing since it went public in 2009. For Q1 2012, the company reported total net flows of $1.9 billion, mainly thanks to higher sales of long-term mutual funds. Total assets under management were $38.0 billion on March 31, 2012.

Virtus has also positioned itself for further growth. George Aylward, president and chief executive officer, said that the company recently added a dedicated retail sales team for the independent broker-dealer and registered investment advisor (RIA) channels.

"Sales of open-end mutual funds through the RIA/Independent channel increased by 54 percent from the first quarter of last year and the increased focus on this distribution channel is an important element of our growth strategy," Aylward said. 

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