Virtus Investment Partners, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Virtus Investment Partners, Inc. has submitted its annual 10-K filing for the fiscal year ended December 31, 2023.</b>

AI Summary

VIRTUS INVESTMENT PARTNERS, INC. (VRTS) filed a Annual Report (10-K) with the SEC on February 28, 2024. Virtus Investment Partners, Inc. filed its 2023 Form 10-K on February 28, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is Investment Advice, SIC code 6282. The company was incorporated in Delaware. The filing includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking VIRTUS INVESTMENT PARTNERS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Virtus Investment Partners' financial performance, operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand revenue streams, profitability, and balance sheet strength, aiding in investment decisions.

Risk Assessment

Risk Level: medium — VIRTUS INVESTMENT PARTNERS, INC. shows moderate risk based on this filing. The company operates in the investment management industry, which is subject to market volatility, regulatory changes, and intense competition, all of which can impact financial performance and profitability.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Virtus Investment Partners' performance and potential challenges in the asset management sector.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-28 — Filing Date (FILED AS OF DATE)
• 115 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 2023 — Reporting Year (2023 FY)

Key Players & Entities

• VIRTUS INVESTMENT PARTNERS, INC. (company) — COMPANY CONFORMED NAME
• 0000883237 (company) — CENTRAL INDEX KEY
• 6282 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (company) — STATE OF INCORPORATION
• 860-263-4707 (company) — BUSINESS PHONE
• PHOENIX INVESTMENT PARTNERS LTD/CT (company) — FORMER COMPANY
• PHOENIX DUFF & PHELPS CORP (company) — FORMER COMPANY
• DUFF & PHELPS CORP (company) — FORMER COMPANY

FAQ

Key Dates

• 2024-02-28: 10-K Filing — Annual report filing date for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period.

Key Financial Figures

• $2.6 billion — anagement. At December 31, 2023, we had $2.6 billion of other fee earning assets. Our Inve

Filing Documents

• vrts-20231231.htm (10-K) — 2101KB
• exhibit105virtusnqeipame.htm (EX-10.5) — 8KB
• virtus12312023ex-211.htm (EX-21.1) — 25KB
• virtus12312023ex-231.htm (EX-23.1) — 2KB
• vrts12312023ex-311.htm (EX-31.1) — 8KB
• vrts12312023ex-312.htm (EX-31.2) — 8KB
• vrts12312023ex-321.htm (EX-32.1) — 7KB
• vrts12312023ex-971.htm (EX-97.1) — 29KB
• exhibit105virtusnqeipame001.jpg (GRAPHIC) — 586KB
• vrts-20231231_g1.jpg (GRAPHIC) — 210KB
• vrts-20231231_g2.jpg (GRAPHIC) — 173KB
• 0000883237-24-000025.txt (&nbsp;) — 12272KB
• vrts-20231231.xsd (EX-101.SCH) — 64KB
• vrts-20231231_cal.xml (EX-101.CAL) — 131KB
• vrts-20231231_def.xml (EX-101.DEF) — 380KB
• vrts-20231231_lab.xml (EX-101.LAB) — 931KB
• vrts-20231231_pre.xml (EX-101.PRE) — 629KB
• vrts-20231231_htm.xml (XML) — 1428KB

Risk Factors

Item 1A. Risk Factors 9

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 15

Cybersecurity

Item 1C. Cybersecurity 16

Properties

Item 2. Properties 17

Legal Proceedings

Item 3. Legal Proceedings 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 17 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 18

Reserved

Item 6. Reserved 19

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 33

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 34

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 34

Controls and Procedures

Item 9A. Controls and Procedures 34

Other Information

Item 9B. Other Information 35

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 35 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 36

Executive Compensation

Item 11. Executive Compensation 36

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 36

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 36

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 36 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 37

Form 10-K Summary

Item 16. Form 10-K Summary 39 "We," "us," "our," the "Company," and "Virtus" as used in this Annual Report on Form 10-K (the "Annual Report") refer to Virtus Investment Partners, Inc., a Delaware corporation, and its subsidiaries. Table of Contents PART I

Business

Item 1. Business. Organization Virtus Investment Partners, Inc. (the "Company"), a Delaware corporation, commenced operations on November 1, 1995 and became an independent publicly traded company on December 31, 2008. Our Business We provide investment management and related services to institutions and individuals. We use a multi-manager, multi-style approach, offering investment strategies from affiliated managers, each having its own distinct investment style, autonomous investment process, individual brand, as well as from select unaffiliated managers for certain of our retail funds. By offering a broad array of products, we believe we can appeal to a greater number of investors and have offerings across market cycles and through changes in investor preferences. Through our multi-manager model, we provide our affiliated managers with retail and institutional distribution capabilities and business and operational support. We offer investment strategies for institutional and individual investors in different investment products and through multiple distribution channels. Our investment strategies are available in a diverse range of styles and disciplines, managed by differentiated investment managers. We have offerings in various asset classes (equity, fixed income, multi-asset and alternatives), geographies (domestic, global, international and emerging), market capitalizations (large, mid and small), styles (growth, core and value) and investment approaches (fundamental and quantitative). Our products include mutual funds registered pursuant to the Investment Company Act of 1940, as amended ("U.S. retail funds"); Undertaking for Collective Investment in Transferable Securities and Qualifying Investor Funds (collectively, "global funds") and collectively with U.S. retail funds, variable insurance funds, exchange-traded funds ("ETFs"), the "open-end funds"); closed-end funds (collectively, with open-end funds, the "funds"); and retail separate accounts that

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View this 10-K filing on SEC EDGAR