# Virtus Global Multi-Sector Income Fund Virtus Global Multi-Sector Income Fund is an Asset Manager based in Greenfield, United States. ## Overview - **Organization type:** Asset Manager - **Headquarters:** Greenfield, United States - **Region:** North America - **Address:** Greenfield, MA, United States - **Founded:** 2013 - **Assets under management:** Undisclosed - **Website:** virtus.com ## Regulatory record - **Reports private funds:** No ## About The Virtus Global Multi-Sector Income Fund (VGI) was launched in March 2013 by Virtus Investment Partners under CEO George Aylward. Virtus is a publicly traded multi-boutique asset manager headquartered in Greenfield, Massachusetts, with roots tracing to The Phoenix Companies. The fund operates as a closed-end management investment company and is sub-advised by Newfleet Asset Management, Virtus's dedicated fixed-income affiliate, which brings multi-sector credit expertise to the vehicle. Newfleet runs a primarily institutional credit platform and deploys the fund's capital across a broad fixed-income mandate. The strategy draws from US high-yield corporate bonds, leveraged bank loans, and emerging-market sovereign and corporate debt, with smaller allocations to investment-grade securities and asset-backed paper. The fund uses leverage — typically around 25–30% of total assets — to amplify yield. Known positions have spanned issues from issuers such as Sprint, HCA Healthcare, Tenet Healthcare, and various CLO tranches, reflecting the multi-sector remit (per the firm's annual and semi-annual reports). Geographic exposure tilts toward North American credits but includes material positions in Latin American and Asian emerging-market bonds. As of the latest public filings, the fund's total managed assets reflect net assets plus the leverage drawn through a credit facility and reverse repurchase agreements. The fund pays a monthly distribution, which has historically included a mix of net investment income and return of capital. In February 2023, the fund's board approved a renewal of its share repurchase program, allowing up to 5% of outstanding shares to be bought back when the shares trade at a discount exceeding 10% to net asset value — a capital-management tool used periodically to narrow the discount window (per the firm, February 2023). The fund's structural differentiator rests in its closed-end wrapper. Unlike an open-end mutual fund, the fixed capital base allows the credit team to hold less-liquid bank loans and emerging-market positions without facing redemption-driven selling. This aligns the vehicle's liquidity profile with the underlying asset mix — a feature that open-end credit funds do not offer — and forms the core reason it has persisted as a distinct listed product within Virtus's broader fund lineup. ## Sectors - Private Credit - Hedge Funds - Secondaries & Special Situations ## People - George R. Aylward — CEO and President, Virtus Investment Partners ## Questions ### Who manages the portfolio for the Virtus Global Multi-Sector Income Fund? The fund is sub-advised by Newfleet Asset Management, the multi-sector fixed-income affiliate of Virtus Investment Partners. Newfleet's team manages the day-to-day security selection and sector allocation across high-yield, bank loans, and emerging-market debt. The firm has historically operated with a credit-research-heavy, bottom-up approach led by a senior portfolio management group (per the firm's regulatory filings). ### What is the fund's distribution policy and how is it funded? The fund targets a managed distribution rate, which has historically approximated 8% of net asset value on an annualized basis, paid monthly. Distributions are funded from net investment income, realized capital gains, and — when income and gains fall short — a return of capital. The precise mix is reported in a 19(a) notice to shareholders each month. ### Why is this structured as a closed-end fund rather than an open-end mutual fund? The closed-end structure provides a fixed capital base that allows the sub-adviser to invest in less-liquid asset classes, such as leveraged bank loans and emerging-market corporate bonds, without worrying about daily shareholder redemptions. This structural match between fund liquidity and underlying asset liquidity is the primary rationale. The trade-off is that investors transact at the market price, which can reflect a discount or premium to the fund's NAV. ### Does the fund have a share repurchase program, and when does it activate? Yes. The board has renewed a conditional share repurchase program that allows the fund to buy back up to 5% of its outstanding common shares in a rolling 12-month period. The program is designed to be activated when shares trade at a discount to NAV that exceeds 10%, measured by the average of the closing prices over the prior five business days (per the firm, February 2023). ### What credit-quality profile does the fund target? The mandate skews heavily toward below-investment-grade credits. The high-yield corporate bond and bank loan allocations are predominantly B and BB rated, while the emerging-market positions mix sovereign and corporate issuers ranging from BB to CCC. The fund will also hold small allocations to investment-grade corporate bonds and securitized credit for diversification and liquidity management. ### What is the relationship between Virtus Investment Partners and Newfleet Asset Management? Virtus Investment Partners is the parent company and investment adviser to the fund, operating a multi-boutique model. Newfleet Asset Management is a wholly owned, specialized fixed-income affiliate that serves as sub-adviser. Newfleet was acquired by Virtus in 2011 and provides the sector teams that run the day-to-day credit selection for VGI and several other Virtus fixed-income funds. ## Related profiles - [Cumberland Pharmaceuticals](https://altss.com/profile/cumberland-pharmaceuticals-inc) - [Neuronetics](https://altss.com/profile/neuronetics-inc) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/virtus-global-multi-sector-income-fund Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology