Virtus funds to redeem all outstanding auction rate preferreds

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II will each redeem its auction rate preferred shares at liquidation preference plus accrued dividends, according to a news release.

Virtus Convertible & Income Fund will redeem its $75,000 series A shares on Jan. 23; its $150,000 series B shares on Jan. 24; its $225,000 series C shares on Jan. 25; its $75,000 series D shares on Jan. 26; and its $200,000 series E shares on Jan. 27.

Virtus Convertible & Income Fund II will redeem its $275,000 series A shares on Jan. 23; its $100,000 series B shares on Jan. 24; its $100,000 series C shares on Jan. 25; its $75,000 series D shares on Jan. 26; and its $675,000 series E shares on Jan. 27.

Virtus is a Hartford, Conn.-based investment management company. Each fund has an investment objective to provide total return through a combination of capital appreciation and high current income.

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