HARTFORD, Conn., Sept. 23, 2016 /PRNewswire/ -- The Zweig Total Return Fund, Inc. will begin trading under its new name, Virtus Global Dividend & Income Fund Inc., effective September 27, 2016.
The fund will continue to trade on the New York Stock Exchange under its current ticker symbol "ZTR." As a result of the name change, the fund has been assigned a new CUSIP, 92835W107, for its outstanding common shares.
Virtus Investment Advisers became the adviser to the fund and Kayne Anderson Rudnick and Newfleet Asset Management were named subadvisers effective September 7. The fund seeks to generate total return, consisting of capital appreciation and income. Its investment strategy has a current target allocation of 60 percent equities, incorporating Kayne Anderson Rudnick's global dividend yield strategy, and 40 percent fixed income, using Newfleet's multi-sector core plus strategy.
About Kayne Anderson Rudnick
Kayne Anderson Rudnick believes that superior risk-adjusted returns may be achieved through investment in high-quality companies with market dominance, excellent management, financial strength, and consistent growth, purchased at reasonable prices. The firm's investment strategy is to build a portfolio of companies that have strong, consistent growth with low business and financial risk, and hold these companies over the long term, convinced that the investment returns of the portfolio will mirror the financial results of these companies.
About Newfleet Asset Management
Newfleet Asset Management provides comprehensive fixed income portfolio management in multiple strategies. Newfleet leverages the knowledge and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction, avoiding interest rate bets and remaining duration neutral to each strategy's stated benchmark.
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a discount to their net asset value.
This press release contains statements that are, or may be considered to be, forward-looking statements. All statements that are not historical facts, including statements about beliefs or expectations, are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as "expect," "estimate," "plan," "intend," "believe," "anticipate," "may," "will," "should," "could," "continue," "project," or similar statements or variations of such terms. Forward-looking statements are based on a series of expectations, assumptions, and projections; are not guarantees of future results or performance; and may involve risks and uncertainty. All forward-looking statements are as of the date of this release only; the funds undertake no obligation to update or review any forward-looking statements. The funds can give no assurance that such expectations or forward-looking statements will prove to be correct. Actual results may differ materially. You are urged to carefully consider all such factors.
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SOURCE Zweig Total Return Fund, Inc.