Virtus Global Multi-Sector Income Fund Declares Distribution

HARTFORD, Conn., Dec. 17, 2012 /PRNewswire/ -- Virtus Global Multi-Sector Income Fund VGI, a diversified closed-end fund, today announced the following monthly distribution:

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The Fund intends to distribute the greater of $0.117 or all available net investment income and net short and long term capital gains, in accordance with requirements under the Internal Revenue Code of 1986, as amended.  The amount of any supplemental distribution over the $0.117 will be announced on January 2, 2013.

Distributions may represent earnings from net investment income, excess gains taxable as ordinary income or, if necessary, return of capital. In addition, distributions may include net realized long-term capital gains as permitted by the Investment Company Act of 1940.  There is no guarantee that the funds will realize capital gains in any given year.  Distributions are subject to re-characterization for tax purposes after the end of the fiscal year.  All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for distributions via Form 1099-DIV.  Distributions from the fund are generally subject to Federal income taxes.

The Virtus Global Multi-Sector Income Fund seeks to maximize current income while preserving capital by giving investors an opportunity to benefit from broadly diversified holdings across the major domestic and international fixed-income sectors.  It is managed by Newfleet Asset Management, LLC, an affiliated manager of Virtus Investment Partners, Inc., which specializes in multi-sector fixed income investing.

For more information on the fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the closed end fund section on the web at www.virtus.com.

About Newfleet Asset Management

Newfleet Asset Management, an affiliated manager of Virtus Investment Partners VRTS, provides comprehensive fixed income portfolio management in multiple strategies.  Newfleet Multi-Sector Strategies, the team that manages the Virtus Global Multi-Sector Income Fund, leverages the knowledge and skill of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction, avoiding interest rate bets and remaining duration neutral to each strategy's stated benchmark.  Virtus Investment Partners VRTS is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors.  For more information visit www.virtus.com.

SOURCE Virtus Global Multi-Sector Income Fund