CHICAGO, Aug. 3, 2012 /PRNewswire/ -- Duff & Phelps Investment Management Co., an affiliated manager of Virtus Investment Partners, Inc. (NASDAQ: VRTS), will celebrate the one-year trading anniversary of the Duff & Phelps Global Utility Income Fund Inc. (NYSE: DPG) by ringing The Closing Bell® at the New York Stock Exchange on Friday, August 3.
Nathan I. Partain, president and chief investment officer of Duff & Phelps Investment Management (DPIM), will lead the afternoon ceremony, joining Deborah A. Jansen, CFA, chief investment officer of the fund, and George R. Aylward, president and chief executive officer of Virtus, who will ring the closing bell at 4 p.m. (Eastern), and other members of the DPIM team.
The Duff & Phelps Global Utility Income Fund is a non-diversified closed-end fund that began trading on July 27, 2011 following a $735 million common stock offering, the second-largest closed-end fund IPO of the year. Managed by DPIM, the fund currently has approximately $980 million of assets and pays a $0.35-per-share quarterly dividend.
The fund's investment objective is to seek total return, resulting primarily from a high level of current income, with an emphasis on providing tax-advantaged dividend income, and growth in current income, and secondarily from capital appreciation. The fund invests primarily in dividend-paying equity securities of domestic and foreign utilities in the electric, gas, water, telecommunications, and midstream energy sectors.
About Duff & Phelps Investment Management
Duff & Phelps Investment Management Co., which manages more than $8.8 billion in open- and closed-end funds and institutional assets, as of June 30, 2012, has been a leader in investing in real estate investment trusts, infrastructure and utility companies, and in developing and managing focused investment strategies for specialized clients, including nuclear decommissioning trusts. It is an affiliated manager of Virtus Investment Partners.
About Virtus Investment Partners
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 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. In addition to Duff & Phelps Investment Management Co., its affiliated managers include Euclid Advisors LLC, Kayne Anderson Rudnick Investment Management, LLC, Newfleet Asset Management, LLC, and Zweig Advisers LLC. Additional information can be found at www.virtus.com.
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SOURCE Duff & Phelps Investment Management Co.