MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, August 14, 2009 Virtus Reports a Shrinking Loss Net inflows into its managed account and mutual fund product lines helped Virtus Investment Partners shrink its losses in the second quarter. The Hartford, Connecticut-based asset managers reported an operating loss of $2.8 million in the quarter, down from a loss of $4.5 million in the first quarter. The total loss was $3.1 million, or $0.54 per share compared to a loss of $6.8 million, or $1.18 per share in the first quarter. The stock does not have estimates tracked by Wall Street analysts. George R. Aylward, president and chief executive officer, pointed to the recovery in the stock market in March as a reason for the change in direction. "The increase in long-term mutual fund assets during the quarter demonstrates Virtus has attractive products that investors want as they move back into the markets," he added. Printed from: MFWire.com/story.asp?s=22346 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |