HARTFORD, Conn.,
June 26, 2017 /PRNewswire/ -- The
Virtus Total Return Fund Inc. (NYSE: ZF) announced today that its
tender offer for 1,133,020.45 of its issued and outstanding shares
of common stock, representing approximately 5 percent of its
outstanding shares, expired at 11:59
p.m., New York time, on
June 23, 2017.
Based upon current information, approximately 6,119,024.00
shares were tendered, including shares tendered pursuant to notices
of guaranteed delivery. Based on this preliminary information, the
pro-ration for each tendering stockholder is estimated to be 18.516
percent of the shares properly tendered. These numbers are subject
to adjustment and should not be regarded as final. The actual
number of shares to be purchased is anticipated to be announced on
June 29, 2017 and payment for such
shares will be made on or about June 30,
2017. The purchase price of properly tendered shares is 98
percent of the net asset value per share determined as of the close
of the regular trading session of the New York Stock Exchange
(NYSE) on June 23, 2017, which is
equal to $13.1908 per
share.
About the Fund
The
Virtus Total Return Fund Inc. (formerly known as
The Zweig Fund, Inc.) is a diversified closed-end fund whose
investment objective is capital appreciation, with income as a
secondary objective. The fund has a current target allocation of
approximately 60 percent equity securities, primarily invested
globally in owners/operators of infrastructure in the
communications, utility, energy, and transportation industries, and
40 percent fixed income, designed to generate high current income
and total return through the application of active sector rotation,
extensive credit research, and disciplined risk management. The
fund also pursues an options overlay strategy that seeks to
generate additional income through the use of index-based,
out-of-the money put and call spreads. Virtus Investment Advisers
is the adviser to the fund and Duff & Phelps
Investment Management and Newfleet Asset
Management are the subadvisers.
For more information about 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.
Fund Risks
An investment in a fund is subject to risk, including the
risk of possible loss of principal. A fund's shares may be worth
less upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a discount to their net asset
value.
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SOURCE Virtus Total Return Fund Inc.