HARTFORD, Conn., April 3, 2017 /PRNewswire/ -- The merger of
Virtus Total Return Fund (NYSE: DCA) with and into The Zweig Fund,
Inc. (NYSE: ZF) has been completed. DCA ceased trading as of the
close of trading on the New York Stock Exchange ("NYSE") on
March 31, 2017.
Prior to the open of trading on the NYSE today, each share of
DCA common stock converted into an equivalent dollar amount (to the
nearest $0.0001) of shares of common
stock of ZF. The conversion price was based on each fund's net
asset value (NAV) per share calculated at the close of business on
Friday, March 31, 2017:
Based upon those conversion prices, former DCA shareholders
received 0.391206 shares of common stock of ZF for every share of
DCA common stock they held.
Also effective today, The Zweig Fund has changed its name to
Virtus Total Return Fund Inc. and its CUSIP to 92837G100. It
continues to trade with the "ZF" ticker symbol.
About the Fund
The Virtus Total Return Fund Inc. (formerly known as The Zweig
Fund, Inc.) is a diversified closed-end fund and its investment
objective is capital appreciation, with income as a secondary
objective. DCA is the accounting survivor in the merger. Virtus
Investment Advisers, Inc. has been the investment adviser, and Duff
& Phelps Investment Management Co. and Newfleet Asset
Management, LLC have been subadvisers, to the fund since
December 9, 2011. Performance and
characteristics prior to that date were attained by the previous
adviser using a different investment strategy.
For more information on the fund, contact shareholder services
at (866) 270-7788, by email at closedendfunds@virtus.com, or
through the closed end fund section on the web at
www.virtus.com.
About Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. has more than 35
years of experience managing investment portfolios, including
institutional separate accounts and open- and closed-end funds
investing in utilities, infrastructure, real estate investment
trusts (REITs), and master limited partnerships (MLPs), and
international equity. For more information, visit www.dpimc.com.
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. For more information,
visit www.newfleet.com.
Fund Risks
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. For more information about a fund's investment
objective and risks, please see the fund's annual report. A copy of
the fund's most recent annual report may be obtained free of charge
by contacting "Shareholder Services" at the phone number or email
address below.
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SOURCE Virtus Total Return Fund