0000940400-11-000181.txt : 20110527
0000940400-11-000181.hdr.sgml : 20110527
20110527122621
ACCESSION NUMBER: 0000940400-11-000181
CONFORMED SUBMISSION TYPE: NSAR-A
PUBLIC DOCUMENT COUNT: 7
CONFORMED PERIOD OF REPORT: 20110331
FILED AS OF DATE: 20110527
DATE AS OF CHANGE: 20110527
EFFECTIVENESS DATE: 20110527
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: VIRTUS OPPORTUNITIES TRUST
CENTRAL INDEX KEY: 0001005020
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0930
FILING VALUES:
FORM TYPE: NSAR-A
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-07455
FILM NUMBER: 11876984
BUSINESS ADDRESS:
STREET 1: 101 MUNSON STREET
CITY: GREENFIELD
STATE: MA
ZIP: 01301
BUSINESS PHONE: 800-243-1574
MAIL ADDRESS:
STREET 1: 100 PEARL STREET
CITY: HARTFORD
STATE: CT
ZIP: 06103
FORMER COMPANY:
FORMER CONFORMED NAME: PHOENIX OPPORTUNITIES TRUST
DATE OF NAME CHANGE: 20060127
FORMER COMPANY:
FORMER CONFORMED NAME: PHOENIX SENECA FUNDS
DATE OF NAME CHANGE: 19990122
FORMER COMPANY:
FORMER CONFORMED NAME: SENECA FUNDS
DATE OF NAME CHANGE: 19951218
0001005020
S000001336
VIRTUS BOND FUND
C000003572
CLASS A
SAVAX
C000003573
CLASS B
SAVBX
C000003574
CLASS C
SAVCX
C000003575
CLASS I
SAVYX
0001005020
S000018001
VIRTUS CA TAX-EXEMPT BOND FUND
C000049899
Class A
CTESX
C000049900
Class I
CTXEX
0001005020
S000018002
VIRTUS REAL ESTATE SECURITIES FUND
C000049901
Class A
PHRAX
C000049902
Class B
PHRBX
C000049903
Class C
PHRCX
C000049904
Class I
PHRIX
0001005020
S000018005
VIRTUS HIGH YIELD FUND
C000049911
Class B
PHCCX
C000049912
Class C
PGHCX
C000049913
Class A
PHCHX
0001005020
S000018007
VIRTUS MULTI-SECTOR FIXED INCOME FUND
C000049915
Class A
NAMFX
C000049916
Class B
NBMFX
C000049917
Class C
NCMFX
C000081781
Class I
VMFIX
0001005020
S000018008
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND
C000049918
Class A
NARAX
C000049919
Class B
PBARX
C000049920
Class C
PSTCX
C000049921
Class T
PMSTX
C000066828
Class I Shares
PIMSX
0001005020
S000018009
VIRTUS GLOBAL INFRASTRUCTURE FUND
C000049922
Class A
PGUAX
C000049923
Class C
PGUCX
C000066829
Class I Shares
PGIUX
0001005020
S000018010
VIRTUS MARKET NEUTRAL FUND
C000049924
Class A
EMNAX
C000049925
Class B
EMNBX
C000049926
Class C
EMNCX
C000081782
Class I
VIMNX
0001005020
S000018969
VIRTUS FOREIGN OPPORTUNITIES FUND
C000052519
Class A
JVIAX
C000052520
Class C
JVICX
C000052521
Class I
JVXIX
0001005020
S000018970
VIRTUS INTERNATIONAL REAL ESTATE SECURITIES FUND
C000052522
Class A
PXRAX
C000052523
Class C
PXRCX
C000052524
Class I
PXRIX
0001005020
S000018972
VIRTUS GLOBAL OPPORTUNITIES FUND
C000052528
Class A
NWWOX
C000052529
Class B
WWOBX
C000052530
Class C
WWOCX
0001005020
S000018974
VIRTUS ALPHASECTOR ROTATION FUND
C000052533
Class A
PWBAX
C000052534
Class C
PWBCX
C000081783
Class I
VARIX
0001005020
S000018975
VIRTUS ALPHASECTOR ALLOCATION FUND
C000052535
Class A
PSWAX
C000052536
Class C
PSWCX
C000081784
Class I
VAAIX
0001005020
S000018976
VIRTUS ALTERNATIVES DIVERSIFIER FUND
C000052537
Class A
PDPAX
C000052538
Class C
PDPCX
C000081785
Class I
VADIX
0001005020
S000020772
VIRTUS SENIOR FLOATING RATE FUND
C000058006
Class A
PSFRX
C000058007
Class C
PFSRX
C000058008
Class I
PSFIX
0001005020
S000025108
Virtus Global Real Estate Securities Fund
C000074732
Class A
VGSAX
C000074733
Class C
VGSCX
C000074734
Class I
VGISX
0001005020
S000025109
Virtus Greater Asia ex Japan Opportunities Fund
C000074735
Class A
VGAAX
C000074736
Class C
VGACX
C000074737
Class I
VGAIX
0001005020
S000025110
Virtus Greater European Opportunities Fund
C000074738
Class A
VGEAX
C000074739
Class C
VGECX
C000074740
Class I
VGEIX
0001005020
S000029390
Virtus Premium AlphaSector Fund
C000090272
Class A
VAPAX
C000090273
Class C
VAPCX
C000090274
Class I
VAPIX
0001005020
S000030077
Virtus International Equity Fund
C000092267
Class A
VIEAX
C000092268
Class C
VIECX
C000092269
Class I
VIIEX
0001005020
S000030643
Virtus Global Commodities Stock Fund
C000094976
Class A
VGCAX
C000094977
Class C
VGCCX
C000094978
Class I
VGCIX
0001005020
S000031600
Virtus Allocator Premium AlphaSector Fund
C000098360
Class A
VAAAX
C000098361
Class C
VAACX
C000098362
Class I
VAISX
0001005020
S000031601
Virtus Global Premium AlphaSector Fund
C000098363
Class A
VGPAX
C000098364
Class C
VGPCX
C000098365
Class I
VGPIX
NSAR-A
1
vot.fil
PAGE 1
000 A000000 03/31/2011
000 C000000 0001005020
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 VIRTUS OPPORTUNITIES TRUST FUNDS
001 B000000 811-7455
001 C000000 3027913197
002 A000000 101 MUNSON STREET
002 B000000 GREENFIELD
002 C000000 MA
002 D010000 01301
002 D020000 9668
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 22
007 C010100 1
007 C010200 2
007 C010300 3
007 C020300 VIRTUS BOND FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C020600 VIRTUS GLOBAL INFRASTRUCTURE FUND
007 C030600 N
007 C010700 7
007 C020700 VIRTUS MARKET NEUTRAL FUND
007 C030700 N
007 C010800 8
007 C020800 VIRTUS REAL ESTATE SECURITIES FUND
007 C030800 N
007 C010900 9
007 C020900 VIRTUS ALTERNATIVES DIVERSIFIER FUND
007 C030900 N
007 C011000 10
007 C011100 11
007 C021100 VIRTUS ALPHASECTOR TM ROTATION FUND
007 C031100 N
007 C011200 12
007 C021200 VIRTUS ALPHASECTOR TM ALLOCATION FUND
007 C031200 Y
007 C011300 13
007 C021300 VIRTUS CA TAX-EXEMPT BOND FUND
PAGE 2
007 C031300 N
007 C011400 14
007 C011500 15
007 C011600 16
007 C021600 VIRTUS HIGH YIELD FUND
007 C031600 N
007 C011700 17
007 C011800 18
007 C021800 VIRTUS MULTI-SECTOR FIXED INCOME FUND
007 C031800 N
007 C011900 19
007 C021900 VIRTUS MULTI-SECTOR SHORT TERM BOND FUND
007 C031900 N
007 C012000 20
007 C022000 VIRTUS FOREIGN OPPORTUNITIES FUND
007 C032000 N
007 C012100 21
007 C012200 22
007 C022200 VIRTUS GLOBAL OPPORTUNITIES FUND
007 C032200 N
007 C012300 23
007 C022300 VIRTUS INTERNATIONAL REAL ESTATE SECURITIES
007 C032300 N
007 C012400 24
007 C022400 VIRTUS SENIOR FLOATING RATE FUND
007 C032400 N
007 C012500 25
007 C022500 VIRTUS GLOBAL REAL ESTATE SECURITIES FUND
007 C032500 N
007 C012600 26
007 C022600 VIRTUS GREATER ASIA EX JAPAN OPPORTUNITIES FD
007 C032600 N
007 C012700 27
007 C022700 VIRTUS GREATER EUROPEAN OPPORTUNITIES FUND
007 C032700 N
007 C012800 28
007 C022800 VIRTUS INTERNATIONAL EQUITY FUND
007 C032800 N
007 C012900 29
007 C022900 VIRTUS PREMIUM ALPHASECTOR SM FUND
007 C032900 N
007 C013000 30
007 C023000 VIRTUS ALLOCATOR PREMIUM ALPHASECTOR SM FUND
007 C033000 N
007 C013100 31
007 C023100 VIRTUS GLOBAL PREMIUM ALPHASECTOR SM FUND
007 C033100 N
007 C013200 32
007 C023200 VIRTUS GLOBAL COMMODITIES STOCK FUND
007 C033200 N
007 C013300 33
PAGE 3
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
010 A00AA01 VP DISTRIBUTORS, INC.
010 B00AA01 0
010 C01AA01 HARTFORD
010 C02AA01 CT
010 C03AA01 06103
010 C04AA01 4506
010 A00AA02 BNY MELLON ASSET SERVICING (U.S.) INC.
010 C01AA02 WILMINGTON
010 C02AA02 DE
010 C03AA02 19809
010 A00AA03 DELETE
011 A00AA01 VP DISTRIBUTORS, INC.
011 B00AA01 8-014100
011 C01AA01 HARTFORD
011 C02AA01 CT
011 C03AA01 06103
011 C04AA01 4506
012 A00AA01 VP DISTRIBUTORS, INC.
012 B00AA01 84-5491
012 C01AA01 HARTFORD
012 C02AA01 CT
012 C03AA01 06103
012 C04AA01 4506
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
013 B04AA01 7042
014 A00AA01 VP DISTRIBUTORS, INC.
014 B00AA01 8-014100
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 55
019 C00AA00 VIRTUS-INV
020 A000001 INSTINET CORP
020 B000001 13-3443395
020 C000001 837
020 A000002 BANK OF AMERICA LLC
020 B000002 56-2058405
020 C000002 98
020 A000003 CITICORP SECURITIES SERVICES, INC.
020 B000003 13-3214963
020 C000003 93
020 A000004 SG COWEN SECURITIES CORP.
PAGE 4
020 B000004 13-1976032
020 C000004 73
020 A000005 UBS AG
020 B000005 13-2638166
020 C000005 61
020 A000006 MACQUARIE EQUITIES LIMITED
020 B000006 98-0141094
020 C000006 56
020 A000007 CREDIT SUISSE FIRST BOSTON CORP.
020 B000007 13-5659485
020 C000007 52
020 A000008 ISI GROUP
020 B000008 13-3599877
020 C000008 49
020 A000009 DEUTSCHE BANK
020 B000009 13-2730828
020 C000009 46
020 A000010 ALGEMENE BANK NETHERLANDS
020 C000010 39
021 000000 2089
022 A000001 BNY CAPITAL MARKETS, INC.
022 B000001 13-3878175
022 C000001 197384
022 D000001 199869
022 A000002 BANK OF AMERICA LLC
022 B000002 56-2058405
022 C000002 238500
022 D000002 61756
022 A000003 JPMORGAN CHASE & CO.
022 B000003 13-3379014
022 C000003 241261
022 D000003 57762
022 A000004 CREDIT SUISSE FIRST BOSTON CORP.
022 B000004 13-5659485
022 C000004 186712
022 D000004 39369
022 A000005 CITICORP SECURITIES SERVICES INC.
022 B000005 13-3214963
022 C000005 139065
022 D000005 54045
022 A000006 BARCLAYS BANK PLC
022 B000006 13-4942190
022 C000006 146412
022 D000006 28896
022 A000007 DEUTSCHE BANK
022 B000007 13-2730828
022 C000007 149855
022 D000007 20777
022 A000008 UBS AG
022 B000008 13-2638166
022 C000008 123204
PAGE 5
022 D000008 21371
022 A000009 JEFFERIES & COMPANY, INC.
022 B000009 95-2622900
022 C000009 113465
022 D000009 27277
022 A000010 MORGAN STANLEY
022 B000010 13-2655998
022 C000010 88097
022 D000010 43003
023 C000000 2151695
023 D000000 939210
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026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
077 A000000 Y
077 B000000 N
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077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 Y
077 I000000 N
077 J000000 N
PAGE 6
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
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008 A000301 VIRTUS INVESTMENT ADVISERS, INC.
008 B000301 A
008 C000301 801-5995
008 D010301 HARTFORD
008 D020301 CT
008 D030301 06103
008 D040301 4506
008 A000302 SCM ADVISORS LLC
008 B000302 S
008 C000302 801-51559
008 D010302 SAN FRANCISCO
008 D020302 CA
008 D030302 94133
015 A000301 PFPC TRUST COMPANY
015 B000301 C
015 C010301 PHILADELPHIA
015 C020301 PA
015 C030301 19153
015 C040301 3111
015 E010301 X
015 A000302 CITIBANK JAPAN LIMITED
015 B000302 S
015 C010302 TOKYO
015 D010302 JAPAN
PAGE 7
015 D020302 100-6517
015 E040302 X
015 A000303 DELETE
024 000300 Y
025 A000301 BANK OF AMERICA LLC
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025 B000302 13-3214963
025 C000302 D
025 D000302 2208
025 A000303 JPMORGAN CHASE & CO.
025 B000303 13-3379014
025 C000303 D
025 D000303 2672
025 A000304 MORGAN STANLEY
025 B000304 13-2655998
025 C000304 D
025 D000304 4586
025 A000305 CREDIT SUISSE FIRST BOSTON CORP.
025 B000305 13-5659485
025 C000305 D
025 D000305 1805
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025 B000306 13-3214963
025 C000306 E
025 D000306 444
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025 D000307 1308
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025 B000308 13-3379014
025 C000308 E
025 D000308 306
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025 B000309 98-0141094
025 C000309 D
025 D000309 1168
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025 D000311 0
025 D000312 0
025 D000313 0
025 D000314 0
025 D000315 0
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PAGE 8
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PAGE 9
048 A010300 1000000
048 A020300 0.450
048 B010300 1000000
048 B020300 0.400
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048 K020300 0.400
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PAGE 10
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062 O000300 0.0
062 P000300 56.2
062 Q000300 4.6
062 R000300 1.9
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070 J020300 Y
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070 P010300 Y
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070 R010300 Y
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PAGE 11
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PAGE 12
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008 A000601 VIRTUS INVESTMENT ADVISERS, INC.
008 B000601 A
008 C000601 801-5995
008 D010601 HARTFORD
008 D020601 CT
008 D030601 06103
008 D040601 4506
008 A000602 DUFF & PHELPS INVESTMENT MANAGEMENT CO.
008 B000602 S
008 C000602 801-14813
008 D010602 CHICAGO
008 D020602 IL
008 D030602 60606
015 A000601 THE BANK OF NEW YORK MELLON
015 B000601 C
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015 C020601 NY
015 C030601 10286
015 E010601 X
015 A000602 CITIBANK ARGENTINA
015 B000602 S
015 C010602 BUENOS AIRES
015 D010602 ARGENTINA
015 E010602 X
015 A000603 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B000603 S
015 C010603 MELBOURNE
015 D010603 AUSTRALIA
015 D020603 3000
PAGE 13
015 E040603 X
015 A000604 CITIBANK NETHERLANDS
015 B000604 S
015 C010604 BREDA
015 D010604 THE NETHERLANDS
015 D020604 4822 NH
015 E040604 X
015 A000605 BNY MELLON ASSET SERVICING GMBH
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015 C010605 OFFENBACH AM MAIN
015 D010605 GERMANY
015 D020605 63067
015 E040605 X
015 A000606 BANCO BILBAO VIZCAYA ARGENTARIA, MADRID
015 B000606 S
015 C010606 MADRID
015 D010606 SPAIN
015 E040606 X
015 A000607 SKANDINAVISKA ENSKILDA BANKEN,HELSINKI BRANCH
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015 C010607 HELSINKI
015 D010607 FINLAND
015 E040607 X
015 A000608 BNP PARIBAS SECURITIES SERVICES, PARIS
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015 E040608 X
015 A000609 THE BANK OF NEW YORK, LONDON
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015 D010609 UNITED KINGDOM
015 D020609 EC4M 6XH
015 E010609 X
015 A000610 DELETE
015 A000611 HONGKONG AND SHANGHAI BANKING CORP.,HONG KONG
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015 C010611 KWUN TONG
015 D010611 HONG KONG
015 E040611 X
015 A000612 INTESA SANPAOLO S.P.A.
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015 C010612 MILAN
015 D010612 ITALY
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015 A000613 MIZUHO CORPORATE BANK, LTD., TOKYO
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PAGE 14
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PAGE 15
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PAGE 16
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PAGE 17
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066 F000600 N
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069 000600 N
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PAGE 18
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PAGE 19
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008 D020701 CT
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008 A000703 THE BOSTON COMPANY ASSET MANAGEMENT LLC
PAGE 20
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015 E040703 X
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PAGE 21
015 D010708 SPAIN
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015 E040709 X
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PAGE 22
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PAGE 23
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PAGE 24
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PAGE 25
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PAGE 26
070 A010700 Y
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PAGE 27
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PAGE 28
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PAGE 29
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PAGE 30
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PAGE 31
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PAGE 32
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PAGE 33
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015 A000901 PFPC TRUST COMPANY
015 B000901 C
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015 C020901 PA
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PAGE 34
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PAGE 35
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PAGE 36
066 B000900 N
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070 F020900 N
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070 I020900 N
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070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 Y
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070 M010900 Y
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070 O020900 N
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070 Q020900 N
070 R010900 Y
070 R020900 N
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PAGE 37
072 B000900 0
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PAGE 38
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008 A001101 VIRTUS INVESTMENT ADVISERS, INC.
008 B001101 A
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008 D011101 HARTFORD
008 D021101 CT
008 D031101 06103
008 D041101 4506
008 A001102 F-SQUARED INVESTMENTS, INC.
008 B001102 S
008 C001102 801-69937
008 D011102 WELLESLEY
008 D021102 MA
008 D031102 02481
015 A001101 PFPC TRUST COMPANY
015 B001101 C
015 C011101 PHILADELPHIA
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015 C041101 3111
015 E011101 X
015 A001102 DELETE
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PAGE 39
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PAGE 40
048 001100 0.000
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PAGE 41
062 M001100 0.0
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069 001100 N
070 A011100 Y
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PAGE 42
070 Q011100 Y
070 Q021100 N
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070 R021100 N
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PAGE 43
074 G001100 0
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008 A001201 VIRTUS INVESTMENT ADVISERS, INC.
008 B001201 A
008 C001201 801-5995
008 D011201 HARTFORD
008 D021201 CT
008 D031201 06103
008 D041201 4506
008 A001202 F-SQUARED INVESTMENTS, INC.
008 B001202 S
008 C001202 801-69937
008 D011202 WELLESLEY
008 D021202 MA
008 D031202 02481
015 A001201 PFPC TRUST COMPANY
015 B001201 C
015 C011201 PHILADELPHIA
015 C021201 PA
015 C031201 19153
015 C041201 3111
015 E011201 X
015 A001202 DELETE
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PAGE 44
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PAGE 45
042 F001200 0
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PAGE 46
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PAGE 47
070 M011200 Y
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PAGE 48
073 B001200 0.0000
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008 A001301 VIRTUS INVESTMENT ADVISERS, INC.
008 B001301 A
008 C001301 801-5995
008 D011301 HARTFORD
008 D021301 CT
008 D031301 06103
008 D041301 4506
015 A001301 PFPC TRUST COMPANY
015 B001301 C
015 C011301 PHILADELPHIA
015 C021301 PA
015 C031301 19153
015 C041301 3111
015 E011301 X
015 A001302 DELETE
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PAGE 49
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PAGE 50
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PAGE 51
062 C001300 0.0
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PAGE 52
070 N011300 Y
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PAGE 53
074 A001300 0
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008 A001601 VIRTUS INVESTMENT ADVISERS, INC.
008 B001601 A
008 C001601 801-5995
008 D011601 HARTFORD
008 D021601 CT
008 D031601 06103
008 D041601 4506
008 A001602 SCM ADVISORS LLC
008 B001602 S
008 C001602 801-51559
008 D011602 SAN FRANCISCO
008 D021602 CA
008 D031602 94133
015 A001601 PFPC TRUST COMPANY
015 B001601 C
015 C011601 PHILADELPHIA
015 C021601 PA
PAGE 54
015 C031601 19153
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PAGE 55
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PAGE 56
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PAGE 57
070 J011600 Y
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PAGE 58
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PAGE 59
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PAGE 60
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PAGE 61
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PAGE 62
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PAGE 63
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PAGE 64
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PAGE 65
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PAGE 66
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PAGE 67
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PAGE 68
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PAGE 69
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PAGE 70
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PAGE 71
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PAGE 72
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030 A001900 679
030 B001900 2.25
030 C001900 0.00
031 A001900 54
031 B001900 0
032 001900 625
033 001900 0
034 001900 Y
035 001900 116
036 A001900 N
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042 A001900 0
042 B001900 0
042 C001900 63
042 D001900 37
042 E001900 0
042 F001900 0
042 G001900 0
042 H001900 0
043 001900 5873
044 001900 0
045 001900 Y
046 001900 N
047 001900 Y
048 001900 0.000
048 A011900 1000000
048 A021900 0.550
048 B011900 1000000
048 B021900 0.500
048 C011900 0
PAGE 73
048 C021900 0.000
048 D011900 0
048 D021900 0.000
048 E011900 0
048 E021900 0.000
048 F011900 0
048 F021900 0.000
048 G011900 0
048 G021900 0.000
048 H011900 0
048 H021900 0.000
048 I011900 0
048 I021900 0.000
048 J011900 0
048 J021900 0.000
048 K011900 2000000
048 K021900 0.450
049 001900 N
050 001900 N
051 001900 N
052 001900 N
053 A001900 N
055 A001900 N
055 B001900 N
056 001900 Y
057 001900 N
058 A001900 N
059 001900 Y
060 A001900 Y
060 B001900 Y
061 001900 25
062 A001900 Y
062 B001900 0.0
062 C001900 0.0
062 D001900 0.0
062 E001900 0.0
062 F001900 0.0
062 G001900 0.0
062 H001900 0.0
062 I001900 0.0
062 J001900 0.0
062 K001900 0.0
062 L001900 1.0
062 M001900 0.0
062 N001900 1.5
062 O001900 0.0
062 P001900 74.1
062 Q001900 22.7
062 R001900 0.3
063 A001900 0
063 B001900 3.8
PAGE 74
064 A001900 Y
064 B001900 Y
065 001900 N
066 A001900 N
067 001900 N
068 A001900 N
068 B001900 N
069 001900 N
070 A011900 Y
070 A021900 N
070 B011900 Y
070 B021900 N
070 C011900 Y
070 C021900 N
070 D011900 Y
070 D021900 N
070 E011900 Y
070 E021900 N
070 F011900 Y
070 F021900 N
070 G011900 Y
070 G021900 N
070 H011900 Y
070 H021900 N
070 I011900 Y
070 I021900 N
070 J011900 Y
070 J021900 Y
070 K011900 Y
070 K021900 Y
070 L011900 Y
070 L021900 Y
070 M011900 Y
070 M021900 Y
070 N011900 Y
070 N021900 N
070 O011900 Y
070 O021900 N
070 P011900 Y
070 P021900 N
070 Q011900 Y
070 Q021900 N
070 R011900 Y
070 R021900 N
071 A001900 1355964
071 B001900 805708
071 C001900 3434701
071 D001900 23
072 A001900 6
072 B001900 99232
072 C001900 24
PAGE 75
072 D001900 0
072 E001900 0
072 F001900 8515
072 G001900 2431
072 H001900 0
072 I001900 2331
072 J001900 89
072 K001900 0
072 L001900 119
072 M001900 120
072 N001900 134
072 O001900 0
072 P001900 0
072 Q001900 0
072 R001900 17
072 S001900 21
072 T001900 5873
072 U001900 0
072 V001900 0
072 W001900 232
072 X001900 19882
072 Y001900 0
072 Z001900 79374
072AA001900 15673
072BB001900 0
072CC011900 20224
072CC021900 0
072DD011900 47664
072DD021900 32654
072EE001900 0
073 A011900 0.0000
073 A021900 0.0000
073 B001900 0.0000
073 C001900 0.0000
074 A001900 102
074 B001900 0
074 C001900 0
074 D001900 3782241
074 E001900 10070
074 F001900 1843
074 G001900 0
074 H001900 0
074 I001900 37005
074 J001900 6202
074 K001900 0
074 L001900 81560
074 M001900 217
074 N001900 3919240
074 O001900 48209
074 P001900 4087
074 Q001900 0
PAGE 76
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 19803
074 S001900 0
074 T001900 3847141
074 U011900 460338
074 U021900 331055
074 V011900 0.00
074 V021900 0.00
074 W001900 0.0000
074 X001900 27561
074 Y001900 0
075 A001900 0
075 B001900 3473669
076 001900 0.00
008 A002001 VIRTUS INVESTMENT ADVISERS, INC.
008 B002001 A
008 C002001 801-5995
008 D012001 HARTFORD
008 D022001 CT
008 D032001 06103
008 D042001 4506
008 A002002 VONTOBEL ASSET MANAGEMENT INC.
008 B002002 S
008 C002002 801-21953
008 D012002 NEW YORK
008 D022002 NY
008 D032002 10036
015 A002001 THE BANK OF NEW YORK MELLON
015 B002001 C
015 C012001 NEW YORK
015 C022001 NY
015 C032001 10286
015 E012001 X
015 A002002 CITIBANK ARGENTINA, BUENOS AIRES
015 B002002 S
015 C012002 BUENOS AIRES
015 D012002 ARGENTINA
015 E042002 X
015 A002003 UNICREDIT BANK AUSTRIA AG
015 B002003 S
015 C012003 VIENNA
015 D012003 AUSTRIA
015 D022003 A-1090
015 E042003 X
015 A002004 NATIONAL AUSTRALIA BANK, MELBOURNE
015 B002004 S
015 C012004 MELBOURNE
015 D012004 AUSTRALIA
015 D022004 3000
PAGE 77
015 E042004 X
015 A002005 CITIBANK NETHERLANDS
015 B002005 S
015 C012005 BREDA
015 D012005 THE NETHERLANDS
015 D022005 4822 NH
015 E042005 X
015 A002007 CITIBANK, N.A., BRAZILIAN BRANCH
015 B002007 S
015 C012007 SAO PAULO
015 D012007 BRAZIL
015 D022007 01311
015 E042007 X
015 A002008 CIBC MELLON TRUST COMPANY
015 B002008 S
015 C012008 TORONTO, ONTARIO
015 D012008 CANADA
015 D022008 M5L 1G9
015 E042008 X
015 A002009 CREDIT SUISSE AG
015 B002009 S
015 C012009 ZURICH
015 D012009 SWITZERLAND
015 D022009 8070
015 E042009 X
015 A002010 BANCO DE CHILE
015 B002010 S
015 C012010 SANTIAGO
015 D012010 CHILE
015 E042010 X
015 A002011 ING BANK N.V., PRAGUE
015 B002011 S
015 C012011 PRAGUE
015 D012011 CZECH REPUBLIC
015 E042011 X
015 A002012 BNY MELLON ASSET SERVICING GMBH
015 B002012 S
015 C012012 OFFENBACH AM MAIN
015 D012012 GERMANY
015 D022012 63067
015 E042012 X
015 A002013 DANSKE BANK, COPENHAGEN
015 B002013 S
015 C012013 COPENHAGEN
015 D012013 DENMARK
015 E042013 X
015 A002015 SEB PANK AS, TALLINN
015 B002015 S
015 C012015 TALLINN
015 D012015 ESTONIA
015 D022015 15010
PAGE 78
015 E042015 X
015 A002016 HSBC BANK EGYPT S.A.E.
015 B002016 S
015 C012016 CAIRO
015 D012016 EGYPT
015 D022016 11211
015 E012016 X
015 A002017 BANCO BILBAO VIZCAYA ARGENTARIA, MADRID
015 B002017 S
015 C012017 MADRID
015 D012017 SPAIN
015 E042017 X
015 A002018 SKANDINAVISKA ENSKILDA BANKEN AB
015 B002018 S
015 C012018 HELSINKI
015 D012018 FINLAND
015 E042018 X
015 A002019 BNP PARIBAS SECURITIES SERVICES
015 B002019 S
015 C012019 PARIS
015 D012019 FRANCE
015 E042019 X
015 A002020 DELETE
015 A002021 EFG EUROBANK ERGASIAS SA
015 B002021 S
015 C012021 ATHENS
015 D012021 GREECE
015 D022021 10557
015 E042021 X
015 A002022 HONGKONG AND SHANGHAI BANKING CORP.
015 B002022 S
015 C012022 KWUN TONG
015 D012022 HONG KONG
015 E042022 X
015 A002023 HONGKONG AND SHANGHAI BANKING CORP.
015 B002023 S
015 C012023 JAKARTA
015 D012023 INDONESIA
015 D022023 12930
015 E042023 X
015 A002024 THE BANK OF NEW YORK, LONDON
015 B002024 S
015 C012024 MANCHESTER
015 D012024 UNITED KINGDOM
015 D022024 M1 1RN
015 E042024 X
015 A002025 BANK HAPOALIM B.M.
015 B002025 S
015 C012025 TEL AVIV
015 D012025 ISRAEL
015 D022025 61000
PAGE 79
015 E042025 X
015 A002026 DEUTSCHE BANK AG
015 B002026 S
015 C012026 MUMBAI
015 D012026 INDIA
015 D022026 400 063
015 E042026 X
015 A002027 INTESA SANPAOLO S.P.A.
015 B002027 S
015 C012027 MILAN
015 D012027 ITALY
015 D022027 20152
015 E042027 X
015 A002028 MIZUHO CORPORATE BANK, LTD.
015 B002028 S
015 C012028 TOKYO
015 D012028 JAPAN
015 D022028 104-0052
015 E042028 X
015 A002029 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002029 S
015 C012029 SEOUL
015 D012029 REP. OF KOREA
015 E042029 X
015 A002030 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002030 S
015 C012030 COLOMBO
015 D012030 SRI LANKA
015 D022030 1
015 E042030 X
015 A002031 THE HONGKONG & SHANGHAI BANKING CORP. LTD
015 B002031 S
015 C012031 EBENE
015 D012031 MAURITIUS
015 E042031 X
015 A002032 BANCO NACIONAL DE MEXICO S.A.
015 B002032 S
015 C012032 MEXICO CITY
015 D012032 MEXICO
015 D022032 06695 DF
015 E042032 X
015 A002033 HSBC BANK MALAYSIA BERHAD
015 B002033 S
015 C012033 KUALA LUMPUR
015 D012033 MALAYSIA
015 D022033 50100
015 E042033 X
015 A002034 THE BANK OF NEW YORK MELLON SA/NV
015 B002034 S
015 C012034 AMSTERDAM
015 D012034 NETHERLANDS
PAGE 80
015 E042034 X
015 A002035 DNB NOR BANK ASA
015 B002035 S
015 C012035 OSLO
015 D012035 NORWAY
015 E042035 X
015 A002036 NATIONAL AUSTRALIA BANK-NATIONAL NOMINEES LTD
015 B002036 S
015 C012036 AUCKLAND
015 D012036 NEW ZEALAND
015 E042036 X
015 A002037 CITIBANK N.A., SUCURSAL DE LIMA
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015 C012037 LIMA
015 D012037 PERU
015 D022037 27
015 E042037 X
015 A002038 HONGKONG AND SHANGHAI BANKING CORP.
015 B002038 S
015 C012038 TAGUIG CITY
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015 A002039 ING BANK SLASKI S.A., KATOWICE
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015 C012039 WARSAW
015 D012039 POLAND
015 D022039 00-950
015 E042039 X
015 A002040 CITIBANK INTERNATIONAL PLC
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015 C012040 LISBOA
015 D012040 PORTUGAL
015 D022040 1269-056
015 E042040 X
015 A002041 SKANDINAVISKA ENSKILDA BANKEN AB
015 B002041 S
015 C012041 STOCKHOLM
015 D012041 SWEDEN
015 D022041 SE-106 40
015 E042041 X
015 A002042 DBS BANK LIMITED
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015 C012042 SINGAPORE
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015 A002043 ING BANK N.V., BRATISLAVA
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015 C012043 BRATISLAVA
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015 D022043 811 02
PAGE 81
015 E042043 X
015 A002044 BANGKOK BANK LTD.
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015 C012044 BANGKOK
015 D012044 THAILAND
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015 E042044 X
015 A002045 DEUTSCHE BANK
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015 C012045 ISTANBUL
015 D012045 TURKEY
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015 E042045 X
015 A002046 STANDARD CHARTERED BANK LTD. TAIPEI
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015 C012046 TAIPEI
015 D012046 TAIWAN, R.O.C.
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015 A002047 STANDARD BANK OF SOUTH AFRICA
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015 C012047 JOHANNESBURG
015 D012047 REP. OF SOUTH AFRICA
015 D022047 2001
015 E042047 X
015 A002048 DELETE
024 002000 N
025 D002001 0
025 D002002 0
025 D002003 0
025 D002004 0
025 D002005 0
025 D002006 0
025 D002007 0
025 D002008 0
028 A012000 10423
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028 A032000 0
028 A042000 17921
028 B012000 14351
028 B022000 0
028 B032000 0
028 B042000 19340
028 C012000 14492
028 C022000 16729
028 C032000 0
028 C042000 29128
028 D012000 13624
028 D022000 0
028 D032000 0
028 D042000 41817
028 E012000 16073
PAGE 82
028 E022000 0
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028 F032000 0
028 F042000 45415
028 G012000 93622
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028 G032000 0
028 G042000 179628
028 H002000 44332
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030 B002000 5.75
030 C002000 0.00
031 A002000 9
031 B002000 0
032 002000 45
033 002000 0
034 002000 Y
035 002000 1
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042 A002000 0
042 B002000 0
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042 D002000 62
042 E002000 0
042 F002000 0
042 G002000 0
042 H002000 0
043 002000 899
044 002000 0
045 002000 Y
046 002000 N
047 002000 Y
048 002000 0.000
048 A012000 2000000
048 A022000 0.850
048 B012000 2000000
048 B022000 0.800
048 C012000 0
048 C022000 0.000
048 D012000 0
048 D022000 0.000
048 E012000 0
048 E022000 0.000
048 F012000 0
048 F022000 0.000
048 G012000 0
PAGE 83
048 G022000 0.000
048 H012000 0
048 H022000 0.000
048 I012000 0
048 I022000 0.000
048 J012000 0
048 J022000 0.000
048 K012000 4000000
048 K022000 0.750
049 002000 N
050 002000 N
051 002000 N
052 002000 N
053 A002000 N
055 A002000 Y
055 B002000 N
056 002000 Y
057 002000 N
058 A002000 N
059 002000 Y
060 A002000 Y
060 B002000 Y
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062 A002000 N
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062 C002000 0.0
062 D002000 0.0
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062 F002000 0.0
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062 H002000 0.0
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062 P002000 0.0
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062 R002000 0.0
063 A002000 0
063 B002000 0.0
066 A002000 Y
066 B002000 N
066 C002000 Y
066 D002000 N
066 E002000 N
066 G002000 N
067 002000 N
068 A002000 N
PAGE 84
068 B002000 Y
069 002000 N
070 A012000 Y
070 A022000 N
070 B012000 Y
070 B022000 N
070 C012000 Y
070 C022000 N
070 D012000 Y
070 D022000 N
070 E012000 Y
070 E022000 N
070 F012000 Y
070 F022000 N
070 G012000 Y
070 G022000 N
070 H012000 Y
070 H022000 N
070 I012000 Y
070 I022000 N
070 J012000 Y
070 J022000 N
070 K012000 Y
070 K022000 Y
070 L012000 Y
070 L022000 Y
070 M012000 Y
070 M022000 Y
070 N012000 Y
070 N022000 Y
070 O012000 Y
070 O022000 N
070 P012000 Y
070 P022000 N
070 Q012000 Y
070 Q022000 N
070 R012000 Y
070 R022000 N
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071 B002000 284936
071 C002000 1150919
071 D002000 18
072 A002000 6
072 B002000 1
072 C002000 13743
072 D002000 0
072 E002000 60
072 F002000 4906
072 G002000 813
072 H002000 0
072 I002000 940
PAGE 85
072 J002000 248
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072 L002000 57
072 M002000 42
072 N002000 44
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072 S002000 7
072 T002000 900
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072 V002000 0
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072 X002000 8037
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072 Z002000 5767
072AA002000 22023
072BB002000 0
072CC012000 25678
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072DD012000 7322
072DD022000 11220
072EE002000 0
073 A012000 0.0000
073 A022000 0.0000
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074 D002000 0
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074 F002000 1117472
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PAGE 86
074 U012000 19896
074 U022000 30430
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008 B002201 A
008 C002201 801-5995
008 D012201 HARTFORD
008 D022201 CT
008 D032201 06103
008 D042201 4506
008 A002204 VONTOBEL ASSET MANAGEMENT, INC.
008 B002204 S
008 C002204 801-21953
008 D012204 NEW YORK
008 D022204 NY
008 D032204 10036
015 A002201 THE BANK OF NEW YORK MELLON
015 B002201 C
015 C012201 NEW YORK
015 C022201 NY
015 C032201 10286
015 E012201 X
015 A002202 UNICREDIT BANK AUSTRIA AG
015 B002202 S
015 C012202 VIENNA
015 D012202 AUSTRIA
015 D022202 A-1090
015 E042202 X
015 A002203 NATIONAL AUSTRALIA BANK
015 B002203 S
015 C012203 MELBOURNE
015 D012203 AUSTRALIA
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015 A002204 CITIBANK NETHERLANDS
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015 C012204 BREDA
015 D012204 THE NETHERLANDS
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015 A002205 CITIBANK, N.A., BRAZILIAN BRANCH
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015 C012205 SAO PAULO
015 D012205 BRAZIL
PAGE 87
015 D022205 01311
015 E042205 X
015 A002206 CIBC MELLON TRUST COMPANY
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015 C012206 TORONTO, ONTARIO
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015 D022206 M5L 1G9
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015 A002207 CREDIT SUISSE AG
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015 C012207 ZURICH
015 D012207 SWITZERLAND
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015 A002208 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
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015 C012208 SHANGHAI
015 D012208 PRC
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015 A002210 ING BANK N.V., PRAGUE
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015 C012210 PRAGUE
015 D012210 CZECH REPUBLIC
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015 A002211 BNY MELLON ASSET SERVICING GMBH
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015 C012211 OFFENBACH AM MAIN
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015 A002212 DANSKE BANK
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015 C012212 COPENHAGEN
015 D012212 DENMARK
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015 A002213 BANCO BILBAO VIZCAYA ARGENTARIA
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015 C012213 MADRID
015 D012213 SPAIN
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015 A002214 SKANDINAVISKA ENSKILDA BANKEN A.B.
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015 C012214 HELSINKI
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015 A002215 BNP PARIBAS SECURITIES SERVICES
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015 C012215 PARIS
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015 A002216 BNP PARIBAS SECURITIES SERVICES
PAGE 88
015 B002216 S
015 C012216 ATHENS
015 D012216 GREECE
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015 A002217 DEUTSCHE BANK AG
015 B002217 S
015 C012217 MUMBAI
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015 D022217 400 063
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015 A002218 HONGKONG AND SHANGHAI BANKING CORP.
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015 D012218 HONG KONG
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015 C012219 BUDAPEST
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015 E042219 X
015 A002220 HONGKONG AND SHANGHAI BANKING CORP.
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015 C012220 JAKARTA
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015 D022220 12930
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015 C012221 MANCHESTER
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015 D022221 M1 1RN
015 E042221 X
015 A002222 BANK HAPOALIM B.M.
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015 C012222 TEL AVIV
015 D012222 ISRAEL
015 D022222 61000
015 E042222 X
015 A002223 INTESA SANPAOLO S.P.A.
015 B002223 S
015 C012223 MILAN
015 D012223 ITALY
015 D022223 20152
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015 A002224 MIZUHO CORPORATE BANK, LTD.
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PAGE 89
015 A002225 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B002225 S
015 C012225 SEOUL
015 D012225 REP. OF KOREA
015 E042225 X
015 A002226 BANCO NACIONAL DE MEXICO, S.A.
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015 C012226 MEXICO CITY
015 D012226 MEXICO
015 D022226 06695 DF
015 E042226 X
015 A002227 HSBC BANK MALAYSIA BERHAD
015 B002227 S
015 C012227 KUALA LUMPUR
015 D012227 MALAYSIA
015 D022227 50100
015 E042227 X
015 A002228 THE BANK OF NEW YORK MELLON SA/NV
015 B002228 S
015 C012228 AMSTERDAM
015 D012228 NETHERLANDS
015 E042228 X
015 A002229 DNB NOR BANK ASA
015 B002229 S
015 C012229 OSLO
015 D012229 NORWAY
015 E042229 X
015 A002230 NATIONAL AUSTRALIA BANK-NATIONAL NOMINEES LTD
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015 C012230 AUCKLAND
015 D012230 NEW ZEALAND
015 E042230 X
015 A002231 CITIBANK N.A., SUCURSAL DE LIMA
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015 C012231 LIMA
015 D012231 PERU
015 D022231 27
015 E042231 X
015 A002232 HONGKONG AND SHANGHAI BANKING CORP., MANILA
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015 C012232 TAGUIG CITY
015 D012232 PHILIPPINES
015 D022232 1634
015 E042232 X
015 A002233 ING BANK SLASKI S.A., KATOWICE
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PAGE 90
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PAGE 91
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PAGE 92
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PAGE 93
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PAGE 94
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PAGE 95
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PAGE 96
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PAGE 97
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PAGE 98
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PAGE 99
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PAGE 100
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PAGE 101
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PAGE 102
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PAGE 103
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PAGE 105
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PAGE 106
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PAGE 107
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PAGE 108
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PAGE 109
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015 C012505 SAO PAULO
015 D012505 BRAZIL
015 D022505 01311
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PAGE 110
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PAGE 111
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PAGE 112
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PAGE 113
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052 002500 N
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PAGE 114
066 F002500 N
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067 002500 N
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PAGE 115
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PAGE 116
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PAGE 117
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PAGE 118
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PAGE 119
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PAGE 120
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PAGE 121
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PAGE 122
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PAGE 123
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PAGE 124
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PAGE 125
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PAGE 126
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PAGE 127
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PAGE 128
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PAGE 129
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PAGE 130
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PAGE 132
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PAGE 133
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PAGE 134
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PAGE 135
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PAGE 136
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PAGE 137
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PAGE 147
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PAGE 148
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008 A003101 VIRTUS INVESTMENT ADVISERS, INC.
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015 A003101 THE BANK OF NEW YORK MELLON
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PAGE 149
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PAGE 150
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PAGE 151
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PAGE 152
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PAGE 153
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008 A003201 VIRTUS INVESTMENT ADVISERS, INC.
008 B003201 A
008 C003201 801-5995
008 D013201 HARTFORD
008 D023201 CT
008 D033201 06103
008 D043201 4506
008 A003202 HARRIS INVESTMENT MANAGEMENT, INC.
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008 D033202 60603
015 A003201 THE BANK OF NEW YORK MELLON
015 B003201 C
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PAGE 154
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015 A003202 NATIONAL AUSTRALIA BANK
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015 B003203 S
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015 D023203 M5L 1G9
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015 A003204 HONGKONG AND SHANGHAI BANKING CORP.
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015 D023205 104-0052
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015 B003207 S
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015 D023207 M1 1RN
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PAGE 155
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PAGE 156
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PAGE 157
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PAGE 158
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PAGE 159
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SIGNATURE PATRICK BRADLEY
TITLE CFO & TREASURER
EX-99.77H CHNG CNTRL
2
vot77h.txt
Q77(h) (Change in Control)
Virtus Greater Asia ex Japan Opportunities Fund (Series 26):
Vontobel Asset Management, Inc. ("Vontobel") acquired
control on October 19, 2010. As of the end of the period,
Vontobel owned 40.35% of the shares (as measured in assets).
Virtus International Equity Fund (Series 28):
Palmer Chiropractic University Foundation Endowment Fund
("Palmer Endowment") ceased control on November 18, 2010.
As of the end of the period, Palmer Endowment owned none of
the shares.
Wells Fargo Bank, N.A. ("Wells Fargo"), for the benefit of
its clients, acquired control on January 5, 2011. As of the
end of the period, Wells Fargo owned 36.76% of the shares
(as measured in assets).
SEI Private Trust Co. ("SEI"), for the benefit its clients,
acquired control on December 8, 2010. As of the end of the
period, SEI owned 26.26% of the shares (as measured in assets).
Virtus Allocator Premium AlphaSector Fund (Series 30):
VP Distributors, Inc. ("VPD") acquired control on March 15,
2011 (inception of fund). As of the end of the period, VPD
owned 61.28% of the shares (as measured in assets).
Virtus Global Premium AlphaSector Fund (Series 31):
VP Distributors, Inc. ("VPD") acquired control on March 15,
2011 (inception of fund). As of the end of the period, VPD
owned 100% of the shares (as measured in assets).
Virtus Global Commodities Stock Fund (Series 32):
Harris Investment Management, Inc. ("Harris") acquired
control on March 15, 2011 (inception of fund). As of the
end of the period, Harris owned 100% of the shares (as
measured in assets).
EX-99.77Q1 OTHR EXHB
3
vot77q11.txt
77Q1 - Other Exhibits
77Q1e(1) - Twelfth Amendment to Amended and Restated
Investment Advisory Agreement, by and between Registrant and
Virtus Investment Advisers, Inc. effective as of January 1,
2011, filed via EDGAR with post effective amendment No. 47
(file no. 033-65137) on March 10, 2011 and incorporated herein
by reference.
77Q1e(2) - Thirteenth Amendment to Amended and Restated
Investment Advisory Agreement, by and between Registrant and
Virtus Investment Advisers, Inc. effective as of March 15,
2011, filed via EDGAR herewith.
77Q1e(3) - Subadvisory Agreement between Virtus Investment
Advisers, Inc. and Harris Investment Management, Inc.
effective as of March 15, 2011, filed via EDGAR herewith.
77Q1e(4) - Subadvisory Agreement between Harris Investment
Management, Inc. and Coxe Advisors, LLP effective March 15,
2011, filed via EDGAR herewith.
EX-99.77Q1 OTHR EXHB
4
vot77q12.txt
THIRTEENTH AMENDMENT
TO AMENDED AND RESTATED
INVESTMENT ADVISORY AGREEMENT
THIS AMENDMENT effective as of the 15th day of March, 2011
amends that certain Amended and Restated Investment Advisory
Agreement dated as of November 20, 2002, and amended as of
June 8, 2006, June 27, 2007, September 24, 2007, January 31,
2008, October 1, 2008, March 2, 2009, May 29, 2009, September
29, 2009, January 1, 2010, June 30, 2010, September 14, 2010
and January 1, 2011 (the "Agreement") by and between Virtus
Opportunities Trust, a Delaware statutory trust (the "Trust"),
and Virtus Investment Advisers, Inc., a Massachusetts
corporation (the "Adviser"), as follows:
1. Virtus Global Commodities Stock Fund, Virtus Allocator
Premium AlphaSector Fund and Virtus Global Premium
AlphaSector Fund are hereby added as additional Series to
the Agreement.
2. The investment advisory fee for Virtus Global Commodities
Stock Fund, Virtus Allocator Premium AlphaSector Fund and
Virtus Global Premium AlphaSector Fund are hereby set
forth on Schedule A to the Agreement, Schedule A is
hereby deleted and Schedule A attached hereto is
substituted in its place to reflect such addition.
2. Except as expressly amended hereby, all provisions of the
Agreement shall remain in full force and effect and are
unchanged in all other respects. All initial capitalized
terms used but not defined herein shall have such
meanings as ascribed thereto in the Agreement, as
amended.
3. This Agreement may be executed in any number of
counterparts (including executed counterparts delivered
and exchanged by facsimile transmission) with the same
effect as if all signing parties had originally signed
the same document, and all counterparts shall be
construed together and shall constitute the same
instrument. For all purposes, signatures delivered and
exchanged by facsimile transmission shall be binding and
effective to the same extent as original signatures.
[signature page follows]
IN WITNESS WHEREOF, the parties hereto intending to be
legally bound have caused this Agreement to be executed by
their duly authorized officers of other representatives.
VIRTUS OPPORTUNITIES TRUST
By: /s/ George R. Aylward
Name: George R. Aylward
Title: President
VIRTUS INVESTMENT ADVISERS, INC.
By: /s/ Francis G. Waltman
Name: Francis G. Waltman
Title: Senior Vice President
SCHEDULE A
Series Investment Advisory Fee
Virtus Alternatives Diversifier Fund 0.00%
Virtus Premium AlphaSector Fund 1.10%
1st $1 $1+ Billion 2+
Billion through $2 Billion
Billion
Virtus CA Tax-Exempt Bond Fund
0.45% 0.40% 0.35%
Virtus Global Commodities Stock Fund
1.00% 0.95% 0.90%
Virtus Global Infrastructure Fund
0.65% 0.60% 0.55%
Virtus Global Opportunities Fund
0.85% 0.80% 0.75%
Virtus Global Real Estate Securities Fund
0.85% 0.80% 0.75%
Virtus High Yield Fund
0.65% 0.60% 0.55%
Virtus International Real Estate Securities Fund
1.00% 0.95% 0.90%
Virtus Multi-Sector Fixed Income Fund
0.55% 0.50% 0.45%
Virtus Multi-Sector Short Term Bond Fund
0.55% 0.50% 0.45%
Virtus Real Estate Securities Fund
0.75% 0.70% 0.65%
Virtus Senior Floating Rate Fund
0.60% 0.55% 0.50%
1st $2 $2+ $4+
Billion Billion Billion
through
$4 Billion
Virtus Allocator Premium AlphaSector Fund
1.10% 1.05% 1.00%
Virtus Foreign Opportunities Fund
0.85% 0.80% 0.75%
Virtus Global Premium AlphaSector Fund
1.10% 1.05% 1.00%
Virtus International Equity Fund
0.85% 0.80% 0.75%
1st $1 $1+ Billion
Billion
Virtus AlphaSector Allocation Fund
0.45% 0.40%
Virtus AlphaSector Rotation Fund
0.45% 0.40%
Virtus Bond Fund
0.45% 0.40%
Virtus Greater Asia ex Japan Opportunities Fund
1.00% 0.95%
Virtus Greater European Opportunities Fund
0.85% 0.80%
Virtus Market Neutral Fund
1.50% 1.40%
EX-99.77Q1 OTHR EXHB
5
vot77q13.txt
VIRTUS OPPORTUNITIES TRUST
Virtus Global Commodities Stock Fund
SUBADVISORY AGREEMENT
March 15, 2011
Coxe Advisors, LLP
190 South LaSalle Street, 4th floor
Chicago, Illinois 60603
RE: Subadvisory Agreement
Ladies and Gentlemen:
Virtus Opportunities Trust ("Fund") is an open-end investment
company of the series type registered under the Investment
Company Act of 1940, as amended ("Act"), and is subject to the
rules and regulations promulgated thereunder. The shares of
the Fund are offered or may be offered in several series
(collectively, sometimes hereinafter referred to as the
"Series").
Subject to the direction of the Trustees of the Fund
("Trustees"), Virtus Investment Advisers, Inc. ("Virtus") is
responsible for managing the Fund's investment program and the
general operations of the Fund, including oversight of the
Fund's subadvisers and recommending their hiring, termination
and replacement. By agreement dated March 15, 2011, Virtus
retained Harris Investment Management, Inc. ("Adviser") as a
discretionary subadviser for that discrete portion of the
assets of the Series designated by Virtus as set forth on
Schedule C attached hereto ("Designated Series"). Under that
agreement, Adviser is responsible for the day-to-day
management of the Designated Series.
Under this Agreement, Adviser, with the consent of Virtus, has
determined that it is in the best interest of the Designated
Series and its shareholders to collaborate with Coxe Advisors,
LLP ("Subadviser") in furnishing investment advisory services
to the Designated Series. Mr. Donald G. M. Coxe ("Mr. Coxe"),
the managing partner of Subadviser, has had over thirty-five
years of experience, 18 of which were with Adviser's
affiliates, in providing investment advice concerning issuers
the value of whose equity securities is derived primarily,
whether directly or indirectly, from various physical
commodities ("Commodity Equity Securities"). Adviser has had
over 40 years' experience providing investment advice to
institutional clients, and three years' experience working
directly with Subadviser and Mr. Coxe to offer investment
advice concerning Commodity Equity Securities to such clients.
The Designated Series will be advised by an investment team
comprised of individuals from both Adviser and Subadviser.
1. Employment as a Subadviser. Subadviser is hereby
employed by Adviser to furnish non-discretionary
investment advisory services to Virtus and Adviser on
behalf of the Designated Series, on the terms and
conditions set forth herein. In particular, Subadviser
is employed by Adviser to collaborate with Adviser in
recommending the investments to be acquired and disposed
of by Adviser on behalf of the Designated Series.
Adviser retains all discretion delegated to it by Virtus
under its subadvisory agreement, including all discretion
relating to constructing the Designated Series'
portfolio, entering transactions on behalf of the
Designated Series and selecting brokers and dealers to
execute such transactions.
2. Acceptance of Employment; Standard of Performance.
Subadviser accepts its employment as a non-discretionary
subadviser to Adviser on behalf of the Designated Series
and agrees to use its best professional judgment to
collaborate with Adviser in recommending investments for
acquisition or disposition by Adviser for the Designated
Series in accordance with the provisions of this
Agreement and as set forth in Schedule B attached hereto
and made a part hereof.
3. Services of Subadviser. In providing advisory services
to the Designated Series, Subadviser shall be subject to
the investment objectives, policies and restrictions of
the Fund as they apply to the Designated Series and as
set forth in the Fund's then current prospectus
("Prospectus") and statement of additional information
("Statement of Additional Information") filed with the
Securities and Exchange Commission (the "SEC") as part of
the Fund's Registration Statement, as may be periodically
amended and provided to Subadviser by Adviser, to the
investment restrictions set forth in the Act and the
rules thereunder ("Rules"), and to instructions from the
Fund, Virtus or Adviser. In addition, Subadviser shall
consult with Adviser as requested on various operational
and compliance matters, including asset valuation, proxy
voting, and marketing. The services of Subadviser
hereunder are not to be deemed exclusive. Subadviser may
render services with respect to other clients, including
other clients of Adviser, and engage in other activities
that do not conflict in any material manner with
Subadviser's performance hereunder.
4. Transaction Procedures. Subadviser's duties under this
Agreement are limited to collaborating with Adviser on
investment recommendations made for the Designated
Series. Subadviser shall have no authority or
responsibility for implementing the recommendations on
behalf of the Designated Series, including the execution
of any transaction. Subadviser acknowledges that Adviser
is solely responsible for portfolio construction and
trade execution. Subadviser acknowledges further that it
shall not have possession or custody of any funds and/or
securities of the Designated Series or any responsibility
or liability with respect to such custody.
5. Allocation of Brokerage. Subadviser shall not have any
authority or discretion to select brokers and dealers to
execute Designated Series transactions and shall have no
responsibility for seeking best execution of transactions
it recommends. Adviser acknowledges that it is solely
responsible for seeking best execution of transactions
for the Designated Series.
6. Proxies. Subadviser acknowledges that, although it will
consult with Adviser as requested with respect to
Adviser's individual proxy voting decisions, it shall
have no authority or responsibility for voting or
handling proxies or for filing Form N-PX in relation to
the assets of the Designated Series. Subadviser is
similarly not authorized to deal with reorganizations,
exchange offers, other voluntary corporate actions or any
litigation with respect to securities held by the
Designated Series.
7. Prohibited Conduct. In providing the services described
in this Agreement, Subadviser's responsibility regarding
investment advice hereunder is limited to the Designated
Series, and Subadviser will not consult with any other
investment advisory firm that provides investment
advisory services to the Fund or any other investment
company sponsored by Virtus Investment Partners, Inc.
regarding transactions for the Fund in securities or
other assets, except that Subadviser and Adviser will
consult with each other regarding the Designated Series
and their joint investment recommendations. Adviser
shall provide Subadviser with a list of investment
advisers to investment companies sponsored by Virtus
Investment Partners, Inc. and Subadviser shall be in
breach of the foregoing provision only if it consults
with an investment adviser to any investment company
included in such a list provided to Subadviser prior to
such prohibited action. For avoidance of doubt, nothing
set forth herein shall prevent Adviser and Subadviser
from collaborating on any investment portfolio
recommendations made for the Designated Series or from
cooperating in any and all ways necessary to provide the
services contemplated by this Agreement.
8. Information and Reports.
A. Subadviser is responsible for keeping Adviser
informed of developments relating to its duties as
Subadviser of which Subadviser has, or should have,
knowledge that would materially affect the
Designated Series. In this regard, Adviser may,
from time to time and with reasonable notice and due
consideration of Subadviser's limited role with
respect to the Designated Series, request Subadviser
to prepare and provide periodic reports concerning
its obligations under this Agreement. In
particular, prior to each meeting of the Trustees,
Subadviser is responsible for providing Adviser with
reports regarding Subadviser's advisory services to
the Designated Series during the most recently
completed quarter, which reports: (i) shall include,
to the extent possible, Subadviser's representation
that its performance of its investment management
duties hereunder is in compliance with the Fund's
investment objectives and practices, the Act and
applicable rules and regulations under the Act, and
(ii) otherwise shall be in such form as may be
mutually agreed upon by Adviser and Subadviser.
B. Adviser shall provide Subadviser with a list, to the
best of Adviser's knowledge, of each affiliated
person (and any affiliated person of such an
affiliated person) of Adviser or Virtus, and Adviser
agrees promptly to update such list whenever Adviser
becomes aware of any changes that should be added to
or deleted from the list of affiliated persons.
C. Subadviser shall provide Adviser with a list, to the
best of Subadviser's knowledge, of each affiliated
person (and any affiliated person of such an
affiliated person) of Subadviser, and Subadviser
agrees promptly to update such list whenever
Subadviser becomes aware of any changes that should
be added to or deleted from the list of affiliated
persons.
D. Subadviser shall also provide Adviser with any
information reasonably requested by Adviser
regarding its advice related to the Designated
Series required for any shareholder report, amended
registration statement, or Prospectus supplement to
be filed by the Fund with the SEC.
E. Adviser shall be responsible for making any filings
related to investments for the Designated Series
which may be required either by regulatory
authorities or the Trustees, which shall include,
but shall not be limited to, any required filings on
Forms 13D, 13F, 13G, N-PX or similar forms. Upon
reasonable request by Subadviser, Adviser shall
provide Subadviser with copies of any such filings
which include information relevant to Subadviser's
responsibilities with respect to the Designated
Series.
9. Fees for Services. The compensation of Subadviser for
its services under this Agreement shall be calculated and
paid by Adviser in accordance with the attached Schedule
A. Adviser is solely responsible for the payment of fees
to Subadviser under this Agreement.
10. Limitation of Liability. Except as otherwise stated in
this Agreement, Subadviser shall not be liable for any
action taken, omitted or suffered to be taken by it in
its best professional judgment, in good faith and
believed by it to be authorized or within the rights or
powers conferred upon it by this Agreement, or in
accordance with specific directions or instructions from
the Fund, Virtus or Adviser; provided, however, that such
acts or omissions shall not have constituted a material
breach of the investment objectives, policies and
restrictions applicable to the Designated Series as
defined in the Prospectus and Statement of Additional
Information, or a material breach of any laws, rules,
regulations or orders applicable to the Designated
Series, and that such acts or omissions shall not have
resulted from Subadviser's willful misfeasance, bad
faith, gross negligence, or reckless disregard of its
obligations and duties hereunder. For the avoidance of
doubt, to the extent that specific directions or
instructions from the Fund, Virtus or Adviser to
Subadviser result in a material breach, Subadviser shall
not be liable for such breach unless Subadviser's willful
misfeasance, bad faith, gross negligence, or reckless
disregard of its obligations and duties hereunder caused
such material breach.
11. Confidentiality. Subject to the duty of the Subadviser
and Adviser to comply with applicable law, including any
demand of any regulatory or taxing authority having
jurisdiction, the parties hereto shall treat as
confidential all information pertaining to the Designated
Series and the actions of the Subadviser, Adviser, Virtus
and the Fund in respect thereof.
12. Assignment. This Agreement shall terminate automatically
in the event of its assignment, as that term is defined
in Section 2(a)(4) of the Act. Subadviser shall notify
Adviser in writing sufficiently in advance of any
proposed change of control, as defined in Section 2(a)(9)
of the Act, as will enable Adviser to consider whether an
assignment as defined in Section 2(a)(4) of the Act will
occur, and to take the steps necessary to enter into a
new contract with Subadviser. In addition, Subadviser
shall not, without the prior written consent of Adviser,
delegate any obligation assumed pursuant to this
Agreement to any affiliated or unaffiliated third party.
For the avoidance of doubt, Adviser acknowledges that
Adviser and Subadviser work collaboratively to manage the
investments of the Designated Series and that Subadviser
relies on Adviser for administrative and support services
related to the Designated Series, and Adviser does not
consider such use to be a delegation prohibited by this
paragraph.
13. Representations, Warranties and Agreements of Adviser.
Adviser represents, warrants and agrees that:
A. It is registered as an "investment adviser" under
the Investment Advisers Act of 1940, as amended
("Advisers Act").
B. It is authorized by its subadvisory agreement with
Virtus to employ Subadviser under the terms and
conditions of this Agreement.
C. It will maintain, keep current and preserve on
behalf of the Fund, in the manner required or
permitted by the Act and the Rules such records as
are required of an investment adviser of a
registered investment company, to the extent
applicable to Adviser and to the extent such records
are not directly redundant to those maintained by
Virtus or the Subadviser. Adviser acknowledges that
such records may be joint property of the Fund,
Virtus, Adviser and Subadviser for regulatory
purposes and will share copies of any such joint
records upon reasonable request of the Fund, Virtus
or Subadviser or otherwise make such records
available for inspection by regulatory authorities.
Subadviser acknowledges that Adviser may retain
originals or copies of all records required to meet
the record retention requirements imposed by law and
regulation and Adviser's obligations under its
agreement with Virtus.
C. It will maintain a written code of ethics complying
with the requirements of Rule 17j-l under the Act
and Rule 204A-1 under the Advisers Act and shall
provide Subadviser with a copy of its code of ethics
and evidence of its adoption. Adviser shall
institute and maintain procedures deemed reasonably
necessary by Adviser to prevent Access Persons (as
defined in Rule 17j-1 and Rule 204A-1) who have
access to information concerning the Designated
Series, including Access Persons of Subadviser
identified by Subadviser as such, from violating the
Adviser's codes of ethics. Adviser shall maintain
and share with Subadviser required records
maintained by Adviser with respect to Subadviser's
Access Persons who have access to information
concerning the Designated Series. Nothing herein
shall be deemed to relieve Subadviser from its own
code of ethics requirements, or to impose liability
on Adviser for any violation by Subadviser's Access
Persons of any rule or provision of law with respect
to Subadviser's services hereunder.
D. It has adopted and implemented, and throughout the
term of this Agreement shall maintain in effect and
implement, policies and procedures reasonably
designed to prevent, detect and correct violations
by Adviser and its supervised persons of "federal
securities laws" (as defined in Rule 38a-1 under the
Act). To the extent that such policies and
procedures are relevant to the collaboration between
Adviser and Subadviser with respect to the
Designated Series, Adviser will provide Subadviser
with true and complete copies of such policies and
procedures (or summaries thereof) and related
information reasonably requested by Subadviser.
Adviser agrees periodically to provide to
Subadviser's compliance personnel certifications in
respect of compliance by Adviser with federal
securities laws and compliance with its policies and
procedures to the extent relevant to Subadviser's
management and operation of the Designated Series as
the Subadviser's compliance personnel may reasonably
request. Adviser agrees to promptly notify
Subadviser of any compliance violations which affect
the Designated Series.
E. Adviser will immediately notify Subadviser of the
occurrence of any event which would disqualify
Adviser from serving as an investment adviser of an
investment company pursuant to Section 9 of the Act
or otherwise. Adviser will also immediately notify
Adviser if it is served or otherwise receives notice
of any action, suit, proceeding, inquiry or
investigation, at law or in equity, before or by any
court, public board or body, involving the affairs
of the Designated Series.
14. Representations, Warranties and Agreements of Subadviser.
Subadviser represents, warrants and agrees that:
A. It is registered as an "investment adviser" under
the Advisers Act.
B. It will maintain, keep current and preserve on
behalf of the Fund, in the manner required or
permitted by the Act and the Rules such records as
are required of an investment adviser of a
registered investment company, to the limited extent
applicable to Subadviser and to the extent such
records are not directly redundant to those
maintained by Adviser or Virtus. Subadviser
acknowledges that such records may be joint property
of the Fund, Virtus, Adviser and Subadviser for
regulatory purposes and will share copies of any
such joint records upon reasonable request of the
Fund, Virtus or Adviser or otherwise make such
records available for inspection by regulatory
authorities. Adviser acknowledges that Subadviser
may retain originals or copies of all records
required to meet the record retention requirements
imposed by law and regulation and Subadviser's
obligations under this Agreement.
C. For purposes of this Agreement and the Designated
Series, Access Persons of Subadviser who are Access
Persons with respect to the Designated Series shall
comply with and report under Adviser's code of
ethics. Subadviser shall also adopt its own code of
ethics complying with the requirements of Rule 204A-
1 and Rule 17j-l, and shall provide Adviser with a
copy of its code of ethics and evidence of its
adoption. To the extent that there may be
variations in Subadviser's code of ethics necessary
to cover Subadviser's obligations with respect to
its advisory publications, such variations shall not
apply to nor impede compliance by Subadviser's
Access Persons who are joint Access Persons of
Adviser and Subadviser with respect to the
Designated Series. Subadviser shall institute
procedures deemed reasonably necessary to prevent
Access Persons from violating both the Adviser's and
the Subadviser's codes of ethics. Subadviser
acknowledges receipt of the written code of ethics
adopted by and on behalf of the Fund. Each calendar
quarter while this Agreement is in effect, a duly
authorized compliance officer of Subadviser shall
certify to Adviser that Subadviser has complied with
the requirements of Rules 204A-1 and 17j-l during
the previous calendar quarter and that there has
been no material violation of Subadviser's code of
ethics, or of Rule 17j-1(b), or that any persons
covered under Subadviser's code of ethics has
divulged or acted upon any material, non-public
information, as such term is defined under relevant
securities laws, and if such a violation of its of
Adviser's codes of ethics or the code of ethics of
the Fund has occurred, that appropriate action was
taken in response to such violation. Annually,
Subadviser shall furnish to Adviser a written report
which complies with the requirements of Rule 17j-1
concerning Subadviser's code of ethics. Subadviser
shall permit Adviser to examine its required code of
ethics reports.
D. It has adopted and implemented, and throughout the
term of this Agreement shall maintain in effect and
implement, relevant policies and procedures
reasonably designed to prevent, detect and correct
violations by Subadviser and its supervised persons
of "federal securities laws" (as defined in Rule
38a-1 under the Act), and has provided Adviser with
true and complete copies of its policies and
procedures (or summaries thereof) and related
information reasonably requested by Adviser. With
respect to the Designated Series, Subadviser may
adopt as its own to the extent relevant, and comply
with, written policies and procedures adopted and
implemented by Adviser if such policies and
procedures are deemed adequate by Subadviser to
satisfy Subadviser's obligations hereunder;
provided, however, that such adoption shall not be
deemed to impose liability on Adviser with respect
to the adequacy of Subadviser's policies and
procedures. Subadviser agrees to cooperate with
periodic reviews by Adviser's compliance personnel
of Subadviser's policies and procedures, their
operation and implementation and other compliance
matters and to provide to Adviser from time to time
such additional information and certifications in
respect of Subadviser's policies and procedures,
compliance by Subadviser with federal securities
laws and related matters as Adviser's compliance
personnel may reasonably request. Subadviser agrees
to promptly notify Adviser of any compliance
violations which affect the Designated Series.
E. Subadviser will immediately notify Adviser of the
occurrence of any event which would disqualify
Subadviser from serving as an investment adviser of
an investment company pursuant to Section 9 of the
Act or otherwise. Subadviser will also immediately
notify Adviser if it is served or otherwise receives
notice of any action, suit, proceeding, inquiry or
investigation, at law or in equity, before or by any
court, public board or body, involving the affairs
of the Designated Series.
15. Marketing Literature and Use of Name. No party shall
describe, disclose or otherwise reference any other party
in any prospectus, statement of additional information,
or regulatory filings without providing an opportunity
for the party about whom such information is written to
review and approve any such reference; provided that such
approval shall not be unreasonably denied or delayed.
16. No Personal Liability. Reference is hereby made to the
Declaration of Trust establishing the Fund, a copy of
which has been filed with the Secretary of the State of
Delaware and elsewhere as required by law, and to any and
all amendments thereto so filed with the Secretary of the
State of Delaware and elsewhere as required by law, and
to any and all amendments thereto so filed or hereafter
filed. The name "Virtus Opportunities Trust" refers to
the Trustees under said Declaration of Trust, as Trustees
and not personally, and no Trustee, shareholder, officer,
agent or employee of the Fund shall be held to any
personal liability in connection with the affairs of the
Fund; only the trust estate under said Declaration of
Trust is liable. Without limiting the generality of the
foregoing, neither Subadviser nor any of its officers,
directors, partners, shareholders or employees shall,
under any circumstances, have recourse or cause or
willingly permit recourse to be had directly or
indirectly to any personal, statutory, or other liability
of any shareholder, Trustee, officer, agent or employee
of the Fund or of any successor of the Fund, whether such
liability now exists or is hereafter incurred for claims
against the trust estate.
17. Entire Agreement; Amendment. This Agreement, together
with the Schedules attached hereto, constitutes the
entire agreement of the parties with respect to the
subject matter hereof and supersedes any prior written or
oral agreements pertaining to the subject matter of this
Agreement. This Agreement may be amended at any time,
but only by written agreement between Subadviser and
Adviser with the consent of Virtus, which amendment,
other than amendments to Schedule B, is subject to the
approval of the Trustees and the shareholders of the Fund
as and to the extent required by the Act, subject to any
applicable orders of exemption issued by the SEC.
18. Effective Date; Term. This Agreement shall become
effective on the date set forth on the first page of this
Agreement, and shall continue in effect until December
31, 2012. The Agreement shall continue from year to year
thereafter only so long as its continuance has been
specifically approved at least annually by Adviser, by
the Trustees in accordance with Section 15(a) of the Act,
and by the majority vote of the disinterested Trustees in
accordance with the requirements of Section 15(c)
thereof.
19. Termination. This Agreement may be terminated by any
party, without penalty, immediately upon written notice
to the other parties in the event of a material breach of
any provision thereof by a party so notified, or
otherwise upon thirty (30) days' written notice to the
other parties, but any such termination shall not affect
the status, obligations or liabilities of any party
hereto to the other parties with respect to events
occurring prior to such termination. In the event
Adviser's Subadvisory Agreement with Virtus with respect
to the Designated Series is terminated for any cause
whatsoever, this Agreement will immediately terminate.
20. Applicable Law. To the extent that state law is not
preempted by the provisions of any law of the United
States heretofore or hereafter enacted, as the same may
be amended from time to time, this Agreement shall be
administered, construed and enforced according to the
laws of the State of Delaware.
21. Severability. If any term or condition of this Agreement
shall be invalid or unenforceable to any extent or in any
application, then the remainder of this Agreement shall
not be affected thereby, and each and every term and
condition of this Agreement shall be valid and enforced
to the fullest extent permitted by law.
22. Notices. Any notice or other communication required to
be given pursuant to this Agreement shall be deemed duly
given if delivered personally or by overnight delivery
service or mailed by certified or registered mail, return
receipt requested and postage prepaid, or sent by
receipt-confirmed facsimile or electronic transmission in
portable document format ("PDF") addressed to the parties
at their respective addresses set forth below, or at such
other address as shall be designated by any party in a
written notice to the other party.
Firm:
Harris Investment
Management, Inc.
Coxe Advisors LLP
Attention:
Barry McInerney,
President & CEO
Donald G. M. Coxe, Managing Partner
Address:
190 S. LaSalle Street,
4th floor
Chicago, IL 60603
190 S. LaSalle Street, 4th floor
Chicago, IL 60603
Telephone:
312-461-7720
312-461-5365
Facsimile:
E-mail:
312-461-7096
barry.mcinerney@bmo.com
312-293-5026
dc@coxeadvisors.com
23. Certifications. Subadviser hereby warrants and
represents that it will provide the requisite
certifications reasonably requested by the chief
executive officer and chief financial officer of the Fund
necessary for those named officers to fulfill their
reporting and certification obligations on Form N-CSR and
Form N-Q as required under the Sarbanes-Oxley Act of 2002
to the extent that such reporting and certifications
relate to Subadviser's limited duties and
responsibilities under this Agreement.
24. Indemnification. Adviser agrees to indemnify and hold
harmless Subadviser and Subadviser's partners, employees
and agents from and against any and all losses,
liabilities, claims, damages, and expenses whatsoever,
including reasonable attorneys' fees (collectively,
"Losses"), arising out of or relating to (i) any breach
by Adviser of any provision of this Agreement; (ii) the
negligence, willful misconduct, bad faith, reckless
disregard or breach of fiduciary duty of Adviser; (iii)
any violation by Adviser of any law or regulation
relating to its activities under this Agreement; and (iv)
any direction or instruction given by Adviser to
Subadviser, except to the extent that such Losses result
from the gross negligence, willful misconduct, or bad
faith of Subadviser or Subadviser's reckless disregard of
its obligations and duties hereunder.
25. Receipt of Disclosure Document. Adviser acknowledges
receipt, at least 48 hours prior to entering into this
Agreement, of a copy of Subadviser's Form ADV "brochure"
as that term is used in Advisers Act Rule 204-3
containing certain information concerning Subadviser and
the nature of its business.
26. Counterparts; PDF Signatures. This Agreement may be
executed in any number of counterparts (including
executed counterparts delivered and exchanged by
electronic transmission of a signed PDF version) with the
same effect as if all signing parties had originally
signed the same document, and all counterparts shall be
construed together and shall constitute the same
instrument. For all purposes, signatures delivered and
exchanged as PDFs shall be binding and effective to the
same extent as original signatures.
HARRIS INVESTMENT MANAGEMENT, COXE ADVISORS LLP
INC.
By: __________________ By: __________
Name: Barry McInerney Name: Donald G. M. Coxe
Title: President &
Chief Executive Officer Title: Managing Partner
CONSENTED TO:
Virtus Investment Advisers, Inc.
By: _______________________________
Name: Frank G. Waltman
Title: Senior Vice President
SCHEDULES: A. Fee Schedule
B. Subadviser Functions
C. Designated Series
SCHEDULE A
SUBADVISORY FEE
(a) For services provided to Adviser, Adviser will pay
to Subadviser a fee, payable monthly in arrears, as stated
below. The fee shall be prorated for any month during which
this Agreement is in effect for only a portion of the month.
(b) The fee to be paid to Subadviser is to be 40% of the
advisory fee paid to Adviser by Virtus.
SCHEDULE B
COXE FUNCTIONS
With respect to its investment advisory services hereunder,
Subadviser shall, at its own expense:
1. Furnish non-discretionary investment advisory services to
the Designated Series, consistent with the terms of this
Agreement. In furnishing these investment advisory
services, Subadviser shall:
a. collaborate with Adviser in recommending appropriate
investments for acquisition or disposition by Adviser
on behalf of the Designated Series in accordance with
the Investment Guidelines as set forth in the
prospectus and statement of additional information of
the Designated Series;
b. provide the services of Mr. Coxe as co-portfolio
manager to the Designated Series to collaborate with
Mr. T. Andrew Janes of Adviser as co-portfolio manager
and the rest of the investment team, with the
understanding that Mr. Coxe has final say over
portfolio recommendations, but no authority as to
portfolio construction, throughout this collaboration;
c. maintain such books and records with respect to the
investment advisory services to be provided hereunder
as are required by the Act and the Advisers Act; and
d. provide such information and reports with respect to
the investment advisory services to be provided
hereunder as shall be reasonably requested by Adviser;
2. Promptly after filing with the SEC an amendment to its
Form ADV provide a copy of such amendment to Adviser; and
3. Ensure that appropriate representatives of Subadviser
attend meetings with Adviser, Virtus and the Trustees at
such time(s) and location(s) as reasonably requested by
Adviser. Whenever possible, videoconferences will be
deemed as acceptable for attendance.
SCHEDULE C
DESIGNATED SERIES
Virtus Global Commodities Stock Fund (all assets)
1
EX-99.77Q1 OTHR EXHB
6
vot77q14.txt
VIRTUS OPPORTUNITIES TRUST
Virtus Global Commodities Stock Fund
SUBADVISORY AGREEMENT
March 15, 2011
Harris Investment Management, Inc.
190 South LaSalle Street, 4th Floor
Chicago, Illinois 60603
RE: Subadvisory Agreement
Ladies and Gentlemen:
Virtus Opportunities Trust (the "Fund") is an open-end
investment company of the series type registered under the
Investment Company Act of 1940 (the "Act"), and is subject to
the rules and regulations promulgated thereunder. The shares
of the Fund are offered or may be offered in several series
(collectively, sometimes hereafter referred to as the
"Series").
Subject to the direction of the Trustees of the Fund
("Trustees"), Virtus Investment Advisers, Inc. ("Virtus") is
responsible for managing the Fund's investment program and the
general operations of the Fund, including oversight of the
Fund's subadvisers and recommending their hiring, termination
and replacement.
1. Employment as a Subadviser. The Adviser, being duly
authorized, hereby employs Harris Investment Management,
Inc. (the "Subadviser") as a discretionary series adviser
to invest and reinvest that discrete portion of the
assets of the Series designated by the Adviser as set
forth on Schedule F attached hereto (the "Designated
Series") on the terms and conditions set forth herein.
The services of the Subadviser hereunder are not to be
deemed exclusive; the Subadviser may render services to
others and engage in other activities that do not
conflict in any material manner with the Subadviser's
performance hereunder. The Adviser acknowledges that the
Subadviser intends to retain Coxe Advisors, LLP (the Sub-
subadviser") pursuant to a sub-subadvisory agreement
between the Subadviser and the Sub-subadviser (the "Sub-
subadvisory Agreement") to collaborate with the
Subadviser on a non-discretionary basis in selecting
appropriate investments for the Designated Series, and
the Adviser consents to such retention.
2. Acceptance of Employment; Standard of Performance. The
Subadviser accepts its employment as a discretionary
series adviser of the Designated Series and agrees to use
its best professional judgment to make investment
decisions for the Designated Series in accordance with
the provisions of this Agreement and as set forth in
Schedule D attached hereto and made a part hereof.
3. Services of Subadviser. In providing management services
to the Designated Series, the Subadviser shall be subject
to the investment objectives, policies and restrictions
of the Fund as they apply to the Designated Series and as
set forth in the Fund's then current prospectus
("Prospectus") and statement of additional information
("Statement of Additional Information") filed with the
Securities and Exchange Commission (the "SEC") as part of
the Fund's Registration Statement, as may be periodically
amended and provided to the Subadviser by the Adviser,
and to the investment restrictions set forth in the Act
and the Rules thereunder, to the supervision and control
of the Trustees of the Fund (the "Trustees"), and to
instructions from the Adviser. The Subadviser shall not,
without the Fund's prior written approval, effect any
transactions that would cause the Designated Series at
the time of the transaction to be out of compliance with
any of such restrictions or policies.
4. Transaction Procedures. All series transactions for the
Designated Series shall be consummated by payment to, or
delivery by, the Custodian(s) from time to time
designated by the Fund (the "Custodian"), or such
depositories or agents as may be designated by the
Custodian in writing, of all cash and/or securities due
to or from the Series. Neither the Subadviser nor the
Sub-subadviser shall have possession or custody of such
cash and/or securities or any responsibility or liability
with respect to such custody. The Subadviser shall
advise the Custodian and confirm in writing to the Fund
all investment orders for the Designated Series placed by
it with brokers and dealers at the time and in the manner
set forth in Schedule A hereto (as amended from time to
time). The Fund shall issue to the Custodian such
instructions as may be appropriate in connection with the
settlement of any transaction initiated by the
Subadviser. The Fund shall be responsible for all
custodial arrangements and the payment of all custodial
charges and fees, and, upon giving proper instructions to
the Custodian, the Subadviser shall have no
responsibility or liability with respect to custodial
arrangements or the act, omissions or other conduct of
the Custodian. The Sub-subadviser's duties under the Sub-
subadvisory Agreement are limited to collaborating with
Subadviser on investment recommendations made for the
Designated Series. The Sub-subadviser shall have no
authority or responsibility for implementing the
recommendations on behalf of the Designated Series,
including the execution of any transaction, and
Subadviser shall be solely responsible for portfolio
construction.
5. Allocation of Brokerage. The Subadviser shall have
authority and discretion to select brokers and dealers to
execute Designated Series transactions initiated by the
Subadviser, and to select the markets on or in which the
transactions will be executed. The Sub-subadviser shall
have no such authority or discretion to select brokers,
dealer or markets.
A. In placing orders for the sale and purchase of
Designated Series securities for the Fund, the
Subadviser's primary responsibility shall be to seek
the best execution of orders at the most favorable
prices. However, this responsibility shall not
obligate the Subadviser to solicit competitive bids
for each transaction or to seek the lowest available
commission cost to the Fund, so long as the
Subadviser reasonably believes that the broker or
dealer selected by it can be expected to obtain a
"best execution" market price on the particular
transaction and determines in good faith that the
commission cost is reasonable in relation to the
value of the brokerage and research services (as
defined in Section 28(e)(3) of the Securities
Exchange Act of 1934) provided by such broker or
dealer to the Subadviser, viewed in terms of either
that particular transaction or of the Subadviser's
overall responsibilities with respect to its
clients, including the Fund, as to which the
Subadviser exercises investment discretion,
notwithstanding that the Fund may not be the direct
or exclusive beneficiary of any such services or
that another broker may be willing to charge the
Fund a lower commission on the particular
transaction.
B. The Subadviser may manage other portfolios and
expects that the Fund and other portfolios the
Subadviser manages will, from time to time, purchase
or sell the same securities. The Subadviser may
aggregate orders for the purchase or sale of
securities on behalf of the Designated Series with
orders on behalf of other portfolios the Subadviser
manages. Securities purchased or proceeds of
securities sold through aggregated orders, as well
as expenses incurred in the transaction, shall be
allocated to the account of each portfolio managed
by the Subadviser that bought or sold such
securities in a manner considered by the Subadviser
to be equitable and consistent with the Subadviser's
fiduciary obligations in respect of the Designated
Series and to such other accounts.
C. The Subadviser shall not execute any Series
transactions for the Designated Series with a broker
or dealer that is (i) an "affiliated person" (as
defined in the Act) of the Fund, the Subadviser, the
Sub-subadviser, any subadviser to any other Series
of the Fund, or the Adviser; (ii) a principal
underwriter of the Fund's shares; or (iii) an
affiliated person of such an affiliated person or
principal underwriter; in each case, unless such
transactions are permitted by applicable law or
regulation and carried out in compliance with any
applicable policies and procedures of the Fund. The
Fund shall provide the Subadviser with a list of
brokers and dealers that are "affiliated persons" of
the Fund or the Adviser, and applicable policies and
procedures.
D. Consistent with its fiduciary obligations to the
Fund in respect of the Designated Series and the
requirements of best price and execution, the
Subadviser may, under certain circumstances, arrange
to have purchase and sale transactions effected
directly between the Designated Series and another
account managed by the Subadviser ("cross
transactions"), provided that such transactions are
carried out in accordance with applicable law or
regulation and any applicable policies and
procedures of the Fund. The Fund shall provide the
Subadviser with applicable policies and procedures.
6. Proxies.
A. Unless the Adviser or the Fund gives the Subadviser
written instructions to the contrary, the
Subadviser, or a third party designee acting under
the authority and supervision of the Subadviser,
shall review all proxy solicitation materials and be
responsible for voting and handling all proxies in
relation to the assets of the Designated Series.
Unless the Adviser or the Fund gives the Subadviser
written instructions to the contrary, the Subadviser
will, in compliance with the proxy voting procedures
of the Designated Series then in effect, vote or
abstain from voting, all proxies solicited by or
with respect to the issuers of securities in which
assets of the Designated Series may be invested. The
Sub-subadviser shall have no authority or
responsibility for voting or handling proxies,
although the Sub-subadviser will consult with the
Subadviser as requested with respect to the
Subadviser's individual proxy voting decisions. The
Adviser shall cause the Custodian to forward
promptly to the Subadviser all proxies upon receipt,
so as to afford the Subadviser a reasonable amount
of time in which to determine how to vote such
proxies. The Subadviser agrees to provide the
Adviser in a timely manner with a record of votes
cast containing all of the voting information
required by Form N-PX in an electronic format to
enable the Fund to file Form N-PX as required by
Rule 30b1-4 under the Act.
B. The Subadviser is authorized to deal with
reorganizations, exchange offers and other voluntary
corporate actions with respect to securities held in
the Series in such manner as the Subadviser deems
advisable, unless the Fund or the Adviser otherwise
specifically directs in writing. With the Adviser's
approval, the Subadviser shall also have the
authority to: (i) identify, evaluate and pursue
legal claims, including commencing or defending
suits, affecting the securities held at any time in
the Series, including claims in bankruptcy, class
action securities litigation and other litigation;
(ii) participate in such litigation or related
proceedings with respect to such securities as the
Subadviser deems appropriate to preserve or enhance
the value of the Series, including filing proofs of
claim and related documents and serving as "lead
plaintiff" in class action lawsuits; (iii) exercise
generally any of the powers of an owner with respect
to the supervision and management of such rights or
claims, including the settlement, compromise or
submission to arbitration of any claims, the
exercise of which the Subadviser deems to be in the
best interest of the Series or required by
applicable law, including ERISA, and (iv) employ
suitable agents, including legal counsel, and to pay
their reasonable fees, expenses and related costs
from the Series. The Sub-subadviser shall have no
authority with respect to any of the foregoing.
7. Prohibited Conduct. In providing the services described
in this Agreement, the Subadviser's responsibility
regarding investment advice hereunder is limited to the
Designated Series, and the Subadviser will not consult
with any other investment advisory firm that provides
investment advisory services to the Fund or any other
investment company sponsored by Virtus Investment
Partners, Inc. regarding transactions for the Fund in
securities or other assets, except that, (a) the
Subadviser may consult with any such investment advisory
firm that is an affiliate of the Subadviser (as such term
is defined and interpreted under the Act) for a reason
other than the fact that such other investment advisory
firm provides investment advisory services to the Fund or
any other investment company sponsored by Virtus
Investment Partners, Inc., and (b) the Subadviser may
consult with the Sub-subadviser regarding the Designated
Series. The Fund shall provide the Subadviser with a list
of investment companies sponsored by Virtus Investment
Partners, Inc. and the Subadviser shall be in breach of
the foregoing provision only if the investment company is
included in such a list provided to the Subadviser prior
to such prohibited action.
8. Information and Reports.
A. The Subadviser shall keep the Fund and the Adviser
informed of developments relating to its duties as
Subadviser of which the Subadviser has, or should
have, knowledge that would materially affect the
Designated Series. In this regard, the Subadviser
shall provide the Fund, the Adviser and their
respective officers with such periodic reports
concerning the obligations the Subadviser has
assumed under this Agreement as the Fund and the
Adviser may from time to time reasonably request.
In addition, prior to each meeting of the Trustees,
the Subadviser shall provide the Adviser and the
Trustees with reports regarding the Subadviser's
management of the Designated Series during the most
recently completed quarter, which reports: (i) shall
include, to the extent possible, Subadviser's
representation that its performance of its
investment management duties hereunder is in
compliance with the Fund's investment objectives and
practices, the Act and applicable rules and
regulations under the Act, and the diversification
and minimum "good income" requirements of Subchapter
M under the Internal Revenue Code of 1986, as
amended, and (ii) otherwise shall be in such form as
may be mutually agreed upon by the Subadviser and
the Adviser.
B. The Adviser shall provide Subadviser with a list, to
the best of Adviser's knowledge, of each affiliated
person (and any affiliated person of such an
affiliated person) of the Adviser, and the Adviser
agrees promptly to update such list whenever the
Adviser becomes aware of any changes that should be
added to or deleted from the list of affiliated
persons.
C. The Subadviser shall provide the Adviser with a
list, to the best of Subadviser's knowledge, of each
affiliated person (and any affiliated person of such
an affiliated person) of Subadviser or Sub-
subadviser, and Subadviser agrees promptly to update
such list whenever Subadviser becomes aware of any
changes that should be added to or deleted from the
list of affiliated persons.
D. The Subadviser shall also provide the Adviser with
any information reasonably requested by the Adviser
regarding its management of the Designated Series
required for any shareholder report, amended
registration statement, or Prospectus supplement to
be filed by the Fund with the SEC.
9. Fees for Services. The compensation of the Subadviser
for its services under this Agreement shall be calculated
and paid by the Adviser in accordance with the attached
Schedule C. The Subadviser is solely responsible for the
payment of fees to the Sub-subadviser.
10. Limitation of Liability. Except as otherwise stated in
this Agreement, the Subadviser shall not be liable for
any action taken, omitted or suffered to be taken by it
in its best professional judgment, in good faith and
believed by it to be authorized or within the discretion
or rights or powers conferred upon it by this Agreement,
or in accordance with specific directions or instructions
from the Fund, provided, however, that such acts or
omissions shall not have constituted a material breach of
the investment objectives, policies and restrictions
applicable to the Designated Series as defined in the
Prospectus and Statement of Additional Information, or a
material breach of any laws, rules, regulations or orders
applicable to the Designated Series, and that such acts
or omissions shall not have resulted from the
Subadviser's willful misfeasance, bad faith or gross
negligence, or reckless disregard of its obligations and
duties hereunder.
11. Confidentiality. Subject to the duty of the Subadviser
and the Fund to comply with applicable law, including any
demand of any regulatory or taxing authority having
jurisdiction, the parties hereto shall treat as
confidential all information pertaining to the Designated
Series and the actions of the Subadviser, the Sub-
subadviser and the Fund in respect thereof.
Notwithstanding the foregoing, the Fund and the Adviser
agree that the Subadviser may (i) disclose in marketing
materials and similar communications that the Subadviser
has been engaged to manage assets of the Designated
Series pursuant to this Agreement, and (ii) include
performance statistics regarding the Series in composite
performance statistics regarding one or more groups of
Subadviser's clients published or included in any of the
foregoing communications, provided that the Subadviser
does not identify any performance statistics as relating
specifically to the Series.
12. Assignment. This Agreement shall terminate automatically
in the event of its assignment, as that term is defined
in Section 2(a)(4) of the Act. The Subadviser shall
notify the Fund and the Adviser in writing sufficiently
in advance of any proposed change of control, as defined
in Section 2(a)(9) of the Act, as will enable the Fund to
consider whether an assignment as defined in Section
2(a)(4) of the Act will occur, and to take the steps
necessary to enter into a new contract with the Subadviser.
13. Representations, Warranties and Agreements of the
Subadviser. The Subadviser represents, warrants and
agrees that:
A. It is registered as an "investment adviser" under
the Investment Advisers Act of 1940, as amended
("Advisers Act").
B. It will maintain, keep current and preserve on
behalf of the Fund, in the manner required or
permitted by the Act and the Rules thereunder
including the records identified in Schedule B (as
Schedule B may be amended from time to time). The
Subadviser agrees that such records and similar
records of the Sub-subadviser are the property of
the Fund, and shall be surrendered to the Fund or to
the Adviser as agent of the Fund promptly upon
request of either. The Fund acknowledges that
Subadviser may retain copies of all records required
to meet the record retention requirements imposed by
law and regulation.
C. It shall maintain a written code of ethics (the
"Code of Ethics") complying with the requirements of
Rule 204A-1 under the Advisers Act and Rule 17j-l
under the Act and shall provide the Fund and the
Adviser with a copy of the Code of Ethics and
evidence of its adoption. It shall institute
procedures reasonably necessary to prevent Access
Persons (as defined in Rule 17j-1) from violating
its Code of Ethics. The Subadviser acknowledges
receipt of the written code of ethics adopted by and
on behalf of the Fund. Each calendar quarter while
this Agreement is in effect, a duly authorized
compliance officer of the Subadviser shall certify
to the Fund and to the Adviser that the Subadviser
has complied with the requirements of Rules 204A-1
and 17j-l during the previous calendar quarter and
that there has been no material violation of its
Code of Ethics, or of Rule 17j-1(b), or that any
persons covered under its Code of Ethics has
divulged or acted upon any material, non-public
information, as such term is defined under relevant
securities laws, and if such a violation has
occurred or the code of ethics of the Fund, or if
such a violation of its Code of Ethics has occurred,
that appropriate action was taken in response to
such violation. Annually, the Subadviser shall
furnish to the Fund and the Adviser a written report
which complies with the requirements of Rule 17j-1
concerning the Subadviser's Code of Ethics. The
Subadviser shall permit the Fund and the Adviser to
examine the reports required to be made by the
Subadviser under Rules 204A-1(b) and 17j-l(d)(1) and
this subparagraph.
D. It has adopted and implemented, and throughout the
term of this Agreement shall maintain in effect and
implement, policies and procedures reasonably
designed to prevent, detect and correct violations
by the Subadviser and its supervised persons, and,
to the extent the activities of the Subadviser in
respect of the Fund could affect the Fund, by the
Fund, of "federal securities laws" (as defined in
Rule 38a-1 under the Act), and that the Subadviser
has provided the Fund with true and complete copies
of its policies and procedures (or summaries
thereof) and related information reasonably
requested by the Fund and/or the Adviser. The
Subadviser agrees to cooperate with periodic reviews
by the Fund's and/or the Adviser's compliance
personnel of the Subadviser's policies and
procedures, their operation and implementation and
other compliance matters and to provide to the Fund
and/or the Adviser from time to time such additional
information and certifications in respect of the
Subadviser's policies and procedures, compliance by
the Subadviser with federal securities laws and
related matters as the Fund's and/or the Adviser's
compliance personnel may reasonably request. The
Subadviser agrees to promptly notify the Adviser of
any compliance violations which affect the
Designated Series.
E. The Subadviser will immediately notify the Fund and
the Adviser of the occurrence of any event which
would disqualify the Subadviser from serving as an
investment adviser of an investment company pursuant
to Section 9 of the Act or otherwise. The
Subadviser will also immediately notify the Fund and
the Adviser if it is served or otherwise receives
notice of any action, suit, proceeding, inquiry or
investigation, at law or in equity, before or by any
court, public board or body, involving the affairs
of the Designated Series.
14. No Personal Liability. Reference is hereby made to the
Declaration of Trust establishing the Fund, a copy of
which has been filed with the Secretary of the
Commonwealth of Massachusetts and elsewhere as required
by law, and to any and all amendments thereto so filed
with the Secretary of the Commonwealth of Massachusetts
and elsewhere as required by law, and to any and all
amendments thereto so filed or hereafter filed. The name
"Virtus Insight Trust" refers to the Trustees under said
Declaration of Trust, as Trustees and not personally, and
no Trustee, shareholder, officer, agent or employee of
the Fund shall be held to any personal liability in
connection with the affairs of the Fund; only the trust
estate under said Declaration of Trust is liable.
Without limiting the generality of the foregoing, neither
the Subadviser nor any of its officers, directors,
partners, shareholders or employees shall, under any
circumstances, have recourse or cause or willingly permit
recourse to be had directly or indirectly to any
personal, statutory, or other liability of any
shareholder, Trustee, officer, agent or employee of the
Fund or of any successor of the Fund, whether such
liability now exists or is hereafter incurred for claims
against the trust estate.
15. Entire Agreement; Amendment. This Agreement, together
with the Schedules attached hereto, constitutes the
entire agreement of the parties with respect to the
subject matter hereof and supersedes any prior written or
oral agreements pertaining to the subject matter of this
Agreement. This Agreement may be amended at any time, but
only by written agreement among the Subadviser, the
Adviser and the Fund, which amendment, other than
amendments to Schedules A, B, D, E and F, is subject to
the approval of the Trustees and the shareholders of the
Fund as and to the extent required by the Act, subject to
any applicable orders of exemption issued by the SEC.
16. Effective Date; Term. This Agreement shall become
effective on the date set forth on the first page of this
Agreement, and shall continue in effect until December
31, 2012. The Agreement shall continue from year to year
thereafter only so long as its continuance has been
specifically approved at least annually by the Trustees
in accordance with Section 15(a) of the Act, and by the
majority vote of the disinterested Trustees in accordance
with the requirements of Section 15(c) thereof.
17. Termination. This Agreement may be terminated by any
party, without penalty, immediately upon written notice
to the other parties in the event of a material breach of
any provision thereof by a party so notified, or
otherwise upon thirty (30) days' written notice to the
other parties, but any such termination shall not affect
the status, obligations or liabilities of any party
hereto to the other parties with respect to events
occurring prior to such termination. In the event this
Agreement is terminated for any cause whatsoever, the
Sub-subadvisory Agreement will immediately terminate.
18. Applicable Law. To the extent that state law is not
preempted by the provisions of any law of the United
States heretofore or hereafter enacted, as the same may
be amended from time to time, this Agreement shall be
administered, construed and enforced according to the
laws of the State of Delaware.
19. Severability. If any term or condition of this Agreement
shall be invalid or unenforceable to any extent or in any
application, then the remainder of this Agreement shall
not be affected thereby, and each and every term and
condition of this Agreement shall be valid and enforced
to the fullest extent permitted by law.
20. Notices. Any notice or other communication required to
be given pursuant to this Agreement shall be deemed duly
given if delivered personally or by overnight delivery
service or mailed by certified or registered mail, return
receipt requested and postage prepaid, or sent by
facsimile addressed to the parties at their respective
addresses set forth below, or at such other address as
shall be designated by any party in a written notice to
the other party.
(a) To Virtus or the Fund at:
Virtus Investment Advisers, Inc.
100 Pearl Street
Hartford, CT 06103
Attn: Kevin J. Carr
Telephone: (860) 263-4791
Facsimile: (860) 241-1028
Email: kevin.carr@virtus.com
(b) To the Subadviser at:
Harris Investment Management, Inc.
190 S. LaSalle Street, 4th floor
Chicago, IL 60603
Attn:
Telephone:
Facsimile:
Email:
21. Certifications. The Subadviser hereby warrants and
represents that it will provide the requisite
certifications reasonably requested by the chief
executive officer and chief financial officer of the Fund
necessary for those named officers to fulfill their
reporting and certification obligations on Form N-CSR and
Form N-Q as required under the Sarbanes-Oxley Act of 2002
to the extent that such reporting and certifications
relate to the Subadviser's duties and responsibilities
under this Agreement. Subadviser shall provide a
quarterly certification in a form substantially similar
to that attached as Schedule E.
22. Indemnification. The Adviser agrees to indemnify and
hold harmless the Subadviser and the Subadviser's
directors, officers, employees and agents from and
against any and all losses, liabilities, claims, damages,
and expenses whatsoever, including reasonable attorneys'
fees and any amounts the Subadviser is required to pay to
the Sub-subadviser pursuant to Section 24 of the Sub-
subadvisory Agreement (collectively, "Losses"), arising
out of or relating to (i) any breach by the Adviser of
any provision of this Agreement; (ii) the negligence,
willful misconduct, bad faith, or breach of fiduciary
duty of the Adviser; (iii) any violation by the Adviser
of any law or regulation relating to its activities under
this Agreement; and (iv) any dispute between the Adviser
and any Fund shareholder, except to the extent that such
Losses result from the gross negligence, willful
misconduct, bad faith of the Subadviser or the
Subadviser's reckless disregard of its obligations and
duties hereunder.
23. Receipt of Disclosure Document. The Fund and the Adviser
acknowledge receipt, at least 48 hours prior to entering
into this Agreement, of a copy of Part II of the
Subadviser's Form ADV containing certain information
concerning the Subadviser and the nature of its business.
24. Counterparts; Fax Signatures. This Agreement may be
executed in any number of counterparts (including
executed counterparts delivered and exchanged by
facsimile transmission) with the same effect as if all
signing parties had originally signed the same document,
and all counterparts shall be construed together and
shall constitute the same instrument. For all purposes,
signatures delivered and exchanged by facsimile
transmission shall be binding and effective to the same
extent as original signatures.
VIRTUS OPPORTUNITIES TRUST
By:
Name: Francis G. Waltman
Title: Senior Vice President
VIRTUS INVESTMENT ADVISERS, INC.
By:
Name: Francis G. Waltman
Title: Senior Vice President
ACCEPTED:
HARRIS INVESTMENT MANAGEMENT, INC.
By:
Name:
Title:
SCHEDULES: A. Operational Procedures
B. Record Keeping Requirements
C. Fee Schedule
D. Subadviser Functions
E. Form of Sub-Certification
F. Designated Series
SCHEDULE A
OPERATIONAL PROCEDURES
In order to minimize operational problems, it will be
necessary for a flow of information to be supplied by
Subadviser (hereafter in Schedules A, B, D meaning to include
the Subadviser or its affiliate) to PFPC Trust Company (the
"Custodian") and PNC Global Investment Servicing, (the "Sub-
Accounting Agent") for the Fund.
The Subadviser must furnish the Custodian and the Sub-
Accounting Agent with daily information as to executed trades,
or, if no trades are executed, with a report to that effect,
no later than 5 p.m. (Eastern Time) on the day of the trade
each day the Fund is open for business. (Subadviser will be
responsible for reimbursement to the Fund for any loss caused
by the Subadviser's failure to comply.) The necessary
information can be sent via facsimile machine to the Custodian
and the Sub-Accounting Agent. Information provided to the
Custodian and the Sub-Accounting Agent shall include the
following:
1. Purchase or sale;
2. Security name;
3. CUSIP number, ISIN or Sedols (as applicable);
4. Number of shares and sales price per share or
aggregate principal amount;
5. Executing broker;
6. Settlement agent;
7. Trade date;
8. Settlement date;
9. Aggregate commission or if a net trade;
10. Interest purchased or sold from interest bearing
security;
11. Other fees;
12. Net proceeds of the transaction;
13. Exchange where trade was executed;
14. Identified tax lot (if applicable); and
15. Trade commission reason: best execution, soft
dollar or research.
When opening accounts with brokers for, and in the name of,
the Fund, the account must be a cash account. No margin
accounts are to be maintained in the name of the Fund.
Delivery instructions are as specified by the Custodian. The
Custodian will supply the Subadviser daily with a cash
availability report via access to the Custodian website, or by
email or by facsimile and the Sub-Accounting Agent will
provide a five day cash projection. This will normally be
done by email or, if email is unavailable, by another form of
immediate written communication, so that the Subadviser will
know the amount available for investment purposes.
SCHEDULE B
RECORDS TO BE MAINTAINED BY THE SUBADVISER
1. (Rule 31a-1(b)(5) and (6)) A record of each brokerage
order, and all other series purchases and sales, given by
the Subadviser on behalf of the Fund for, or in
connection with, the purchase or sale of securities,
whether executed or unexecuted. Such records shall
include:
A. The name of the broker;
B. The terms and conditions of the order and of any
modifications or cancellations thereof;
C. The time of entry or cancellation;
D. The price at which executed;
E. The time of receipt of a report of execution; and
F. The name of the person who placed the order on
behalf of the Fund.
2. (Rule 31a-1(b)(9)) A record for each fiscal quarter,
completed within ten (10) days after the end of the
quarter, showing specifically the basis or bases upon
which the allocation of orders for the purchase and sale
of series securities to named brokers or dealers was
effected, and the division of brokerage commissions or
other compensation on such purchase and sale orders.
Such record:
A. Shall include the consideration given to:
(i) The sale of shares of the Fund by brokers or
dealers.
(ii) The supplying of services or benefits by brokers
or dealers to:
(a) The Fund,
(b) The Adviser,
(c) The Subadviser, and
(d) Any person other than the foregoing.
(iii) Any other consideration other than the
technical qualifications of the brokers and
dealers as such.
B. Shall show the nature of the services or benefits
made available.
C. Shall describe in detail the application of any
general or specific formula or other determinant
used in arriving at such allocation of purchase and
sale orders and such division of brokerage
commissions or other compensation.
D. Shall show the name of the person responsible for
making the determination of such allocation and such
division of brokerage commissions or other
compensation.
3. (Rule 31a-1(b)(10)) A record in the form of an
appropriate memorandum identifying the person or persons,
committees or groups authorizing the purchase or sale of
series securities. Where a committee or group makes an
authorization, a record shall be kept of the names of its
members who participate in the authorization. There
shall be retained as part of this record: any
memorandum, recommendation or instruction supporting or
authorizing the purchase or sale of series securities and
such other information as is appropriate to support the
authorization.*
4. (Rule 31a-1(f)) Such accounts, books and other documents
as are required to be maintained by registered investment
advisers by rule adopted under Section 204 of the
Advisers Act, to the extent such records are necessary or
appropriate to record the Subadviser's transactions for
the Fund.
5. Records as necessary under Board approved Virtus Mutual
Funds' policies and procedures, including without
limitation those related to valuation determinations.
* Such information might include: current financial information,
annual and quarterly reports, press releases,
reports by analysts and from brokerage firms (including
their recommendations, i.e., buy, sell, hold) or any internal
reports or subadviser review.
SCHEDULE C
SUBADVISORY FEE
(a) For services provided to the Fund, the Adviser will
pay to the Subadviser a fee, payable monthly in arrears, as
stated below. The fee shall be prorated for any month during
which this Agreement is in effect for only a portion of the
month. In computing the fee to be paid to the Subadviser, the
net asset value of each Designated Series shall be valued as
set forth in the then current registration statement of the Fund.
(b) The fee to be paid to the Subadviser is to be 50% of
the net advisory fee.
SCHEDULE D
SUBADVISER FUNCTIONS
With respect to managing the investment and reinvestment
of the Designated Series' assets, the Subadviser shall
provide, at its own expense:
(a) An investment program for the Designated Series
consistent with its investment objectives based upon
the development, review and adjustment of buy/sell
strategies approved from time to time by the Board
of Trustees and the Adviser in paragraph 3 of this
Subadvisory Agreement and implementation of that program;
(b) Periodic reports, on at least a quarterly basis, in
form and substance acceptable to the Adviser, with
respect to: i) compliance with the Code of Ethics
and the Fund's code of ethics; ii) compliance with
procedures adopted from time to time by the Trustees
of the Fund relative to securities eligible for
resale under Rule 144A under the Securities Act of
1933, as amended; iii) diversification of Designated
Series assets in accordance with the then prevailing
Prospectus and Statement of Additional Information
pertaining to the Designated Series and governing
laws, regulations, rules and orders; iv) compliance
with governing restrictions relating to the fair
valuation of securities for which market quotations
are not readily available or considered "illiquid"
for the purposes of complying with the Designated
Series' limitation on acquisition of illiquid
securities; v) any and all other reports reasonably
requested in accordance with or described in this
Agreement; and vi) the implementation of the
Designated Series' investment program, including,
without limitation, analysis of Designated Series
performance;
(c) Promptly after filing with the SEC an amendment to
its Form ADV, a copy of such amendment to the
Adviser and the Trustees;
(d) Attendance by appropriate representatives of the
Subadviser and the Sub-subadviser at meetings
requested by the Adviser or Trustees at such time(s)
and location(s) as reasonably requested by the
Adviser or Trustees; and
(e) Notice to the Trustees and the Adviser of the
occurrence of any event which would disqualify the
Subadviser from serving as an investment adviser of
an investment company pursuant to Section 9(a) of
the 1940 Act or otherwise.
(f) Provide reasonable assistance in the valuation of
securities including the participation of
appropriate representatives at fair valuation
committee meetings.
SCHEDULE E
FORM OF SUB-CERTIFICATION
To:
Re: Subadviser's Form N-CSR and Form N-Q Certification for
the [Name of Designated Series].
From: [Name of Subadviser]
Representations in support of Investment Company Act Rule
30a-2 certifications of Form N-CSR and Form N-Q.
[Name of Designated Series].
In connection with your certification responsibility under
Rule 30a-2 and Sections 302 and 906 of the Sarbanes-Oxley Act
of 2002, I have reviewed the following information presented
in the schedule of investments for the period ended [Date of
Reporting Period] (the "Report"), which forms part of the N-
CSR or N-Q, as applicable, for the Fund.
Schedule of Investments
Our organization has designed, implemented and maintained
internal controls and procedures, designed for the purpose of
ensuring the accuracy and completeness of relevant portfolio
trade data transmitted to those responsible for the
preparation of the Schedule of Investments. As of the date of
this certification there have been no material modifications
to these internal controls and procedures.
In addition, our organization has:
a. Designed such internal controls and procedures to ensure
that material information is made known to the
appropriate groups responsible for servicing the above-
mentioned mutual fund.
b. Evaluated the effectiveness of our internal controls and
procedures, as of a date within 90 days prior to the date
of this certification and we have concluded that such
controls and procedures are effective.
In addition, to the best of my knowledge, there has been no
fraud, whether or not material, that involves our
organization's management or other employees who have a
significant role in our organization's control and procedures
as they relate to our duties as subadviser to the Designated
Series.
I have read the draft of the Report which I understand to be
current as of [Date of Reporting Period] and based on my
knowledge, such draft of the Report does not, with respect to
the Designated Series, contain any untrue statement of a
material fact or omit to state a material fact necessary to
make the information contained therein, in light of the
circumstances under which such information is presented, not
misleading with respect to the period covered by such draft
Report.
I have disclosed, based on my most recent evaluation, to the
Designated Series' Chief Accounting Officer:
a. All significant changes, deficiencies and material
weakness, if any, in the design or operation of the
Subadviser's internal controls and procedures which could
adversely affect the Registrant's ability to record,
process, summarize and report financial data with respect
to the Designated Series in a timely fashion;
b. Any fraud, whether or not material, that involves the
Subadviser's management or other employees who have a
significant role in the Subadviser's internal controls
and procedures for financial reporting.
I certify that to the best of my knowledge:
a. The Subadviser's Portfolio Manager(s) has/have complied
with the restrictions and reporting requirements of the
Subadviser's Code of Ethics (the "Code"). Portfolio
Managers of the Subadviser, as well as Portfolio
Manager(s) of the Sub-subadviser providing services with
respect to the Designated Series, fall under the
definition of an Advisory Person as defined in the Code.
b. The Subadviser has complied with the Prospectus and
Statement of Additional Information of the Designated
Series and the Policies and Procedures of the Designated
Series as adopted by the Designated Series Board of
Trustees.
c. I have no knowledge of any compliance violations except
as disclosed in writing to the Virtus Compliance
Department by me or by the Subadviser's compliance
administrator.
d. The Subadviser has complied with the rules and
regulations of the 33 Act and 40 Act, and such other
regulations as may apply to the extent those rules and
regulations pertain to the responsibilities of the
Subadviser with respect to the Designated Series as
outlined above.
e. Since the submission of our most recent certification
there have not been any divestments of securities of
issuers that conduct or have direct investments in
business operations in Sudan.
This certification relates solely to the Designated Series
named above and may not be relied upon by any other fund or
entity.
The Subadviser does not maintain the official books and
records of the above Designated Series. The Subadviser's
records are based on its own portfolio management system, a
record-keeping system that is not intended to serve as the
Designated Series official accounting system. The Subadviser
is not responsible for the preparation of the Report.
_______________________________
__________________________
[Name of Subadviser] Date
[Name of Authorized Signer]
[Title of Authorized Signer]
SCHEDULE F
DESIGNATED SERIES
Virtus Global Commodities Stock Fund (all assets)
EX-99
7
vot77q3.txt
EXHIBIT 77Q3 TO FORM N-SAR
Registrant Name: VIRTUS OPPORTUNITIES TRUST
File Number: 811-7447
Registrant CIK Number: 0001003859
March 31, 2011
Sub-Item 77Q3
Series 20
72DD1/72DD2
Class A $7,322, Class B $, Class C $526, Class I $10,694,
Class T $73A1/73A2
Class A $0.3360, Class B $, Class C $0.1870, Class I $0.3860,
Class T $
74U1/74U2
Class A 19,896, Class B , Class C 2,568, Class I 27,862, Class T
74V1/74V2
Class A $22.77, Class B $, Class C $22.58, Class I $22.81,
Class T $
Series 19
72DD1/72DD2
Class A $47,664, Class B $186, Class C $11,107, Class I
$13,076, Class T $8,285
73A1/73A2
Class A $0.1148, Class B $0.1028, Class C $0.1086, Class I
$0.1208, Class T $0.0965
74U1/74U2
Class A 460,338, Class B 1,699, Class C 110,160, Class I
125,449, Class T 93,746
74V1/74V2
Class A $4.85, Class B $4.82, Class C $4.90, Class I $4.85,
Class T $4.89
Series 8
72DD1/72DD2
Class A $3,228, Class B $25, Class C $74, Class I $2,172, Class T $
73A1/73A2
Class A $0.1460, Class B $0.0450, Class C $0.0420, Class I
$0.1810, Class T $
74U1/74U2
Class A 22,659, Class B 511, Class C 1,763, Class I 12,164, Class T
74V1/74V2
Class A $29.66, Class B $29.26, Class C $29.62, Class I $29.64,
Class T $
Series 30
74U1/74U2
Class A 33, Class B , Class C 10, Class I 132, Class T
74V1/74V2
Class A $10.32, Class B $, Class C $10.32, Class I $10.32,
Class T $
Series 11
72DD1/72DD2
Class A $1,955, Class B $, Class C $943, Class I $1,207, Class T $
73A1/73A2
Class A $0.1107, Class B $, Class C $0.0729, Class I $0.1247,
Class T $
74U1/74U2
Class A 19,169, Class B , Class C 14,289, Class I 8,886, Class T
74V1/74V2
Class A $11.69, Class B $, Class C $11.58, Class I $11.69,
Class T $
Series 31
74U1/74U2
Class A 10, Class B , Class C 12, Class I 80, Class T
74V1/74V2
Class A $10.50, Class B $, Class C $10.50, Class I $10.51,
Class T $
Series 29
72DD1/72DD2
Class A $1,040, Class B $, Class C $274, Class I $499, Class T $
73A1/73A2
Class A $0.0520, Class B $, Class C $0.0350, Class I $0.0580,
Class T $
74U1/74U2
Class A 41,592, Class B , Class C 17,714, Class I 27,534, Class T
74V1/74V2
Class A $12.88, Class B $, Class C $12.82, Class I $12.89,
Class T $
Series 9
72DD1/72DD2
Class A $1,588, Class B $, Class C $949, Class I $599, Class T $
73A1/73A2
Class A $0.1591, Class B $, Class C $0.1193, Class I $0.1733,
Class T $
74U1/74U2
Class A 9,542, Class B , Class C 7,589, Class I 3,364, Class T
74V1/74V2
Class A $11.05, Class B $, Class C $10.94, Class I $11.06,
Class T $
Series 3
72DD1/72DD2
Class A $1,384, Class B $41, Class C $150, Class I $2,128,
Class T $
73A1/73A2
Class A $0.2360, Class B $0.1940, Class C $0.1940, Class I
$0.2480, Class T $
74U1/74U2
Class A 5,746, Class B 176, Class C 763, Class I 6,890, Class T
74V1/74V2
Class A $11.03, Class B $10.79, Class C $10.82, Class I $11.16,
Class T $
Series 32
74U1/74U2
Class A 10, Class B , Class C 10, Class I 130, Class T
74V1/74V2
Class A $10.84, Class B $, Class C $10.84, Class I $10.84,
Class T $
Series 6
72DD1/72DD2
Class A $269, Class B $, Class C $50, Class I $444, Class T $
73A1/73A2
Class A $0.1220, Class B $, Class C $0.0800, Class I $0.1360,
Class T $
74U1/74U2
Class A 2,061, Class B , Class C 580, Class I 3,212, Class T
74V1/74V2
Class A $11.86, Class B $, Class C $11.84, Class I $11.87,
Class T $
Series 22
72DD1/72DD2
Class A $590, Class B $6, Class C $4, Class I $, Class T $
73A1/73A2
Class A $0.0800, Class B $0.0340, Class C $0.0340, Class I $,
Class T $
74U1/74U2
Class A 7,248, Class B 161, Class C 109, Class I , Class T
74V1/74V2
Class A $8.31, Class B $7.45, Class C $7.41, Class I $, Class T
$
Series 25
72DD1/72DD2
Class A $132, Class B $, Class C $12, Class I $22, Class T $
73A1/73A2
Class A $1.0100, Class B $, Class C $0.8370, Class I $1.0690,
Class T $
74U1/74U2
Class A 169, Class B , Class C 21, Class I 23, Class T
74V1/74V2
Class A $20.47, Class B $, Class C $20.39, Class I $20.51,
Class T $
Series 26
72DD1/72DD2
Class A $77, Class B $, Class C $, Class I $2, Class T $
73A1/73A2
Class A $0.1000, Class B $, Class C $, Class I $0.1360, Class T
$
74U1/74U2
Class A 787, Class B , Class C 16, Class I 54, Class T
74V1/74V2
Class A $14.95, Class B $, Class C $14.86, Class I $14.98,
Class T $
Series 27
72DD1/72DD2
Class A $99, Class B $, Class C $2, Class I $3, Class T $
73A1/73A2
Class A $0.2900, Class B $, Class C $0.1930, Class I $0.3230,
Class T $
74U1/74U2
Class A 389, Class B , Class C 12, Class I 10, Class T
74V1/74V2
Class A $12.82, Class B $, Class C $12.76, Class I $12.85,
Class T $
Series 16
72DD1/72DD2
Class A $3,536, Class B $20, Class C $70, Class I $, Class T $
73A1/73A2
Class A $0.1480, Class B $0.1310, Class C $0.1310, Class I $,
Class T $
74U1/74U2
Class A 22,969, Class B 145, Class C 552, Class I , Class T
74V1/74V2
Class A $4.22, Class B $4.13, Class C $4.16, Class I $, Class T
$
Series 28
72DD1/72DD2
Class A $-, Class B $, Class C $, Class I $9, Class T $
73A1/73A2
Class A $0.0022, Class B $, Class C $, Class I $0.0097, Class T
$
74U1/74U2
Class A 11, Class B , Class C 10, Class I 1,857, Class T
74V1/74V2
Class A $11.08, Class B $, Class C $11.04, Class I $11.09,
Class T $
Series 23
72DD1/72DD2
Class A $282, Class B $, Class C $56, Class I $2,444, Class T $
73A1/73A2
Class A $0.6880, Class B $, Class C $0.6330, Class I $0.7060,
Class T $
74U1/74U2
Class A 594, Class B , Class C 114, Class I 3,886, Class T
74V1/74V2
Class A $6.24, Class B $, Class C $6.23, Class I $6.23, Class T
$
Series 7
74U1/74U2
Class A 1,685, Class B 47, Class C 360, Class I 5,484, Class T
74V1/74V2
Class A $9.91, Class B $9.36, Class C $9.32, Class I $9.94,
Class T $
Series 18
72DD1/72DD2
Class A $4,259, Class B $374, Class C $1,873, Class I $307,
Class T $
73A1/73A2
Class A $0.3584, Class B $0.3178, Class C $0.3173, Class I
$0.3720, Class T $
74U1/74U2
Class A 12,318, Class B 1,118, Class C 5,947, Class I 1,063,
Class T
74V1/74V2
Class A $10.98, Class B $10.97, Class C $11.06, Class I $10.98,
Class T $
Series 24
72DD1/72DD2
Class A $4,704, Class B $, Class C $1,519, Class I $2,132,
Class T $
73A1/73A2
Class A $0.3393, Class B $, Class C $0.3017, Class I $0.3517,
Class T $
74U1/74U2
Class A 19,184, Class B , Class C 8,336, Class I 9,990, Class T
74V1/74V2
Class A $9.91, Class B $, Class C $9.93, Class I $9.91, Class T $