Tender Offer - Virtus Global Multi-Sector Income Fund

Form Type: N-CSR

Filing Date: 2025-02-10

Corporate Action: Tender-offer

Type: New

Accession Number: 000119312525023434

Filing Summary: The document details the annual report for Virtus Global Multi-Sector Income Fund for the fiscal year ending November 30, 2024. It highlights strong market performance driven by factors including positive economic conditions, a decrease in interest rates by the Federal Reserve totaling 0.75% during the fiscal year, and optimism surrounding various asset classes, including equities and fixed income. The report discusses the Fund's Managed Distribution Plan, the Board's decision to maintain a consistent distribution level despite fluctuations in net investment income, and performance metrics indicating the Fund's market price returned 24.05% while its net asset value returned 13.92%. The Fund's underweight position in U.S. Treasuries and effective allocation to corporate high yield investments contributed positively to its performance. Additionally, the Total Return Fund Inc. was noted for its tender offer program aimed at returning capital to shareholders, including an announcement of a tender offer for 10% of its outstanding shares at 98% of NAV on January 7, 2025.