https://www.sec.gov/Archives/edgar/data/1005020/000157104917000694/t1700229_497.htm497 1 t1700229_497.htm VIRTUS OPPORTUNITIES TRUST
Virtus Emerging Markets Equity Income Fund and Virtus Essential Resources Fund, each a series of Virtus Opportunities Trust
Supplement dated January 26, 2017, to the Virtus Emerging Markets Equity Income Fund and Virtus Essential Resources Fund Summary Prospectuses and the Virtus Opportunities Trust Prospectus, each dated January 28, 2016, and the Statement of Additional Information dated September 23, 2016, as supplemented
Important Notice to Investors
On January 18, 2017, the Board of Trustees of Virtus Opportunities Trust voted to liquidate Virtus Emerging Markets Equity Income Fund and Virtus Essential Resources Fund (the “Funds”). Based on the recommendation of management, the Trustees determined that liquidation is in the best interest of the shareholders and voted to direct the mandatory redemption of all shares of the Funds. Effective March 3, 2017, the Funds will be closed to new investors and additional investor deposits.
On or about March 15, 2017 (the “Liquidation Date”), each of the Funds will be liquidated at its respective net asset value. Prior to such time, shareholders may exchange their shares of the Funds for shares of the same class of any other Virtus Mutual Fund. Shareholders may also redeem their shares at any time prior to the Funds’ liquidation on the Liquidation Date. There will be no fee or sales charges associated with exchange or redemption requests.
Any shares not exchanged or redeemed by the close of business on the Liquidation Date will be redeemed and the account value distributed to shareholders, except shares held in BNY Mellon IS Trust Company custodial accounts, which will be exchanged for shares of Virtus Low Duration Income Fund. Shareholders with BNY Mellon IS Trust Company custodial accounts should consult the prospectus for Virtus Low Duration Income Fund for information about that fund.
Because the exchange or redemption of your shares could be a taxable event, we suggest you consult with your tax advisor prior to the Funds’ liquidation.
Investors should retain this supplement with the Prospectuses and
Statement of Additional Information for future reference.
VOT 8020/EMEI&ERClosing (1/2017)
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Virtus Investment Partners (NASDAQ: VRTS ) -1.7% priced its concurrent underwritten public offerings of 910,000 shares at $110/share and 1M convertible preferred shares @ 7.25% at a liquidation preference of $100/share.
Net proceeds along the with cash on hand, proceeds from the sale of investments and borrowings pursuant to its committed debt financing, to finance its previously announced acquisition of RidgeWorth Investments and pay related fees and expenses.
Dividends on the mandatory convertible preferred stock will be payable on a cumulative basis when, as and if declared by Virtus' board of directors, at an annual rate of 7.25 percent on the liquidation preference of $100.00 per share. If declared, these dividends will be paid in cash, or, subject to certain limitations, in shares of Virtus' common stock (or a combination) on February 1, May 1, August 1, and November 1 of each year, commencing May 1, 2017, and continuing to, and including, February 1, 2020.
http://www.prnewswire.com/news-releases/virtus-investment-partners-prices-public-offerings-of-common-stock-and-mandatory-convertible-preferred-stock-in-connection-with-pending-acquisition-of-ridgeworth-investments-300398043.html
Virtus Fund Family Data Pages Assets $22,598 bl
http://quicktake.morningstar.com/FundFamily/Snapshot.asp?symbol=0C00001YUH
RidgeWorth Mutual Fund Family Data Pages Assets $16,780 bl
http://quicktake.morningstar.com/FundFamily/Snapshot.asp?symbol=0C00001Z4I