New name will follow spin-off from Phoenix Companies
HARTFORD, Conn.--(BUSINESS WIRE)--July 31, 2008--Phoenix
Investment Partners Ltd., a diversified asset management firm with $33.4
billion under management, announced today that it will be renamed
Virtus Investment Partners, Inc. when it completes its previously
announced spin-off from The Phoenix Companies, Inc (NYSE: PNX).
Virtus is Latin and connotes the characteristics of integrity,
quality and strength.
"Virtus Investment Partners will be committed to the same
principal objectives of investor success and service excellence that
distinguish us today as Phoenix Investment Partners," said George R.
Aylward, president of Phoenix Investment Partners, who will become
president and chief executive officer of Virtus at the spin-off. "The
traits of integrity, quality, and strength are the hallmarks upon
which we will build our organization. While our name will change, we
will not change the way we manage our clients' assets and deliver
service," Aylward added.
The company also introduced its new logo, with the name "Virtus"
rising above a curved line over the words "Investment Partners." The
curved line represents the ever-changing investment horizon of clients
and the words "Investment Partners" form the foundation of the logo,
just as they are the foundation of the company's business model. The
logo uses a rich blue for "Virtus," offset by a modern green for
The company will rebrand its PhoenixFunds family of mutual funds
as Virtus Mutual Funds, subject to the approval of the trustees and
directors of the mutual fund board, and will introduce a complementary
logo for its institutional business. Each of the company's affiliated
managers and unaffiliated subadvisers will retain its individual
"We will hold true to the values that have served us and our
investors well over the years," Aylward said. "In particular, we
understand the responsibility we have to our clients and we are
committed to their success as investors."
Virtus Investment Partners provides investment management products
and services to individuals and institutions. It operates a
multi-manager asset management business, comprising a number of
individual affiliated managers, each with a distinct investment style,
autonomous investment process and individual brand. Investors have an
array of needs and Virtus offers a variety of investment styles and
multiple disciplines to meet those needs.
With roots dating to 1851, The Phoenix Companies, Inc. (NYSE:PNX)
helps individuals and institutions solve their often highly complex
personal financial and business planning needs through its broad array
of life insurance, annuities and investments. The company's products
and services reflect deep insights into the wants and needs of
consumers and financial professionals gleaned from research, including
its Phoenix Wealth Survey, conducted annually since 2000. In 2007,
Phoenix had annual revenues of $2.6 billion and total assets of $30.2
billion. For more information, visit www.phoenixwm.com.
Note to editors: An electronic version of the Virtus Investment
Partners logo is available from email@example.com.
Statements made in this release that look forward in time involve
risks and uncertainties and are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
risks and uncertainties include, without limitation, the adverse
effect from a decline in the securities markets or a decline in the
Company's products' performance, a general downturn in the economy,
competition from other companies, changes in government policy or
regulation, inability of the Company to attract or retain key
employees, inability of the Company to implement its operating
strategy and acquisition strategy, inability of the Company to manage
rapid expansion and unforeseen costs and other effects related to
legal proceedings or investigations of governmental and
CONTACT: Phoenix Investment Partners
Joe Fazzino, 860-403-6015
Scott Sunshine, 212-354-6912
SOURCE: Phoenix Investment Partners