Hartford’s Virtus Investment Partners Inc. has officially assumed management of a $112-million closed end mutual fund from a Denver investment firm.
Dividend Capital Investment LLC handed off oversight of its former DCA Total Return Fund, now called Virtus Total Return Fund, authorities said Monday. As of Friday, the fund had $111.7 million in assets.
Both parties first disclosed the deal on Oct. 7.
Virtus will earn an undisclosed fee for its services.
Virtus’ investment advisory affiliates will share management of the fund’s assets: Â Duff & Phelps Investment Management Co., will run the fund’s equity portfolio; and Newfleet Asset Management will oversee its fixed-income investments. Â
Taking on DCA gives Virtus seven closed end funds. Duff & Phelps managed $8.1 billion in open- and closed-end funds and institutional assets as of Sept. 30. Newfleet managed more than $8.8 billion as of the same date.
