Virtus Investment Partners Expands International Equity Capabilities With New Team at Euclid Advisors
'High conviction' core strategy
HARTFORD, Conn. and NEW YORK, Dec. 5, 2012 /PRNewswire/ -- Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-manager asset management business, has added an international equity capability at its Euclid Advisors affiliate through a new team led by two industry veterans.
The new international equity strategy from Euclid is a high conviction, core portfolio benchmarked to the MSCI-EAFE index. The strategy, which has a six-year track record, has a bias towards value and quality, but is flexible in responding to market conditions based on its top-down, bottom-up approach. It is currently being marketed within the separately managed account (SMA) and institutional channels, and Virtus expects to offer the strategy in other product structures.
Leading the team are Frederick A. Brimberg, senior managing director and senior international portfolio manager, who launched the strategy in 2006 while at another firm, and John L. Creswell, senior managing director, who has extensive experience managing investment boutiques. Both joined Euclid earlier this year.
"The addition of the team at Euclid gives us an opportunity to offer another distinctive investment option from an experienced manager with a proven track record," said Frank Waltman, executive vice president, product management, at Virtus. He said that Euclid's approach complements the other international equity and fixed income capabilities that are available in Virtus' mutual funds and SMAs.
"The Euclid strategy selectively chooses among international value and growth stocks while considering macro conditions to create a high-conviction core portfolio where our best ideas are not diluted," said Creswell. "There has been a lot of turnover among international equity managers over the past few years, so our approach and track record can be an attractive alternative for individual and institutional investors who are looking for exposure to a high-quality, international equity portfolio."
Brimberg, who has more than 30 years of investment management, trading, and capital markets experience, joined Euclid from Avatar Investment Management, where he was a senior vice president and international equity portfolio manager. He previously was vice president and portfolio manager for ING Investment Management, focused on international SMAs, and, before that, was a research analyst at Lexington Management specializing in cyclical sectors within the developed international and emerging markets. He earned a B.A. in psychology from Washington & Lee University and an M.B.A. in finance from New York University. He is a member of the New York Society of Security Analysts and sits on the Bank of New York ADR committee.
Creswell, who has business development and operational expertise, in addition to knowledge of global equity and debt markets, joined Euclid from BNP Paribas Investment Partners, where he led institutional consultant relations and product strategy for North America. He previously held senior business and investment positions at Nuveen Investments and was an auditor and management consultant at Ernst & Young. In addition to being a Certified Public Accountant, he holds a B.A. in Business Administration from California State University, Fullerton, a master's in Public Policy from Claremont Graduate University, and the Certified Investment Management Analyst (CIMA) designation from the Investment Management Consultants Association program at The Wharton School.
About Euclid Advisors
Euclid Advisors LLC, an affiliate manager of Virtus Investment Partners, provides domestic and international equity portfolios in strategies that employ a top-down, bottom-up philosophy incorporating a macro-economic view with fundamental company research. The domestic equity strategy uses econometric analysis as the framework for security selection. The international equity strategy is a high conviction core portfolio, with stock selection informed by a forward looking analysis of cash flow return on invested capital. The strategy has a bias towards value and quality but is flexible in responding to market conditions.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Its affiliated managers include Duff & Phelps Investment Management Co., Euclid Advisors LLC, Kayne Anderson Rudnick Investment Management, LLC, Newfleet Asset Management, LLC, Newfound Investments, LLC, Rampart Investment Management Co., LLC, and Zweig Advisers LLC. Additional information can be found at www.virtus.com.
The MSCI EAFE® Index is a free float-adjusted market capitalization-weighted index that measures developed foreign market equity performance, excluding the U.S. and Canada. The index is calculated on a total return basis with net dividends reinvested. The index is unmanaged and not available for direct investment.
This press release contains statements that are not historical facts, including statements about our beliefs or expectations that are, or may be considered to be, "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as "expect," "estimate," "plan," "intend," "believe," "anticipate," "may," "will," "should," "could," "continue," "project," or similar statements or variations of such terms. Our forward-looking statements are based on a series of expectations, assumptions and projections about our company, are not guarantees of future results or performance, and involve substantial risks and uncertainty as described in our 2011 Annual Report on Form 10-K or in any of our filings with the Securities and Exchange Commission ("SEC"), which are available on our website at www.virtus.com under "Investor Relations." All of our forward-looking statements are as of the date of this release only. The company can give no assurance that such expectations or forward-looking statements will prove to be correct. Actual results may differ materially. You are urged to carefully consider all such factors.
SOURCE Virtus Investment Partners, Inc.