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Why did Phoenix spin-off Virtus?

April 26, 2017Phoenix Spin-Off virtus

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Why did Phoenix spin-off Virtus?

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Virtus and Phoenix are fundamentally different types of businesses, and the board of directors of Phoenix decided that separation of the two businesses will help highlight the unique characteristics and values of these businesses for investors, and better position each company to access the capital markets. For a further explanation of the reasons for the spin-off and more information about Virtus’ business, see “The Spin-Off—Reasons for the Spin-Off” and “Business” in the Information Statement, dated December 23, 2008, that was sent to Phoenix shareholders as of the record date. The Information Statement is also available at the website of the Securities and Exchange Commission (www.sec.gov), as Exhibit 99.1 to the Form 10 filed by Virtus on December 19, 2008 and at www.phoenixwm.com and www.Virtus.com.