VGI - Virtus Global Multi-Sector Income Fund

What this means for you

Sit Investment is known for pushing closed-end funds to narrow the gap between price and value. For now it has told the regulator it is not seeking changes.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

1. Jan 6, 2026

   Sit Investment raised its stake to 18.2% (from 13%), as a passive investor.

   Original document →

2. Nov 14, 2024

   1607 Capital sold down below 5% and stopped reporting.

   Original document →

3. Feb 9, 2024

   Sit Investment now owns 13%, as a passive investor.

   Original document →

4. Feb 8, 2024

   1607 Capital now owns 5.2%, as a passive investor.

   Original document →

About this fund

• Run by Virtus Investment Advisers, LLC. Part of the Virtus fund family. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Size: about $88.1 million of holdings, as of Aug 31, 2026. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 31% on top of its own money, as of Aug 31, 2026. Borrowed money makes gains and losses bigger. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.4% a year in management fees; 4% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
  Among the 90 funds we follow that invest in bonds, 63 charge a lower management fee and 61 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $0.96 a share. $0.49 of that was income; $0.47 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Nov 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Nov 30, 2025): $8.29. The shares traded at $7.85, about 5.3% below that. As of Nov 30, 2025, from the fund's yearly report. Original document →
• How the holdings did: down 0.2% over the last three months we have (June-Aug 2026), before the share price is taken into account. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2011.

How this has changed

• Payouts per share: $0.96 in the fiscal year ended Nov 30, 2025; $0.96 in the year ended Nov 30, 2024; $0.96 in the year ended Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.47 in the year ended Nov 30, 2025; $0.51 in the year ended Nov 30, 2024; $0.55 in the year ended Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 3.98% a year in the fiscal year ended Nov 30, 2025; 4.48% a year in the year ended Nov 30, 2024; 4.46% a year in the year ended Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →
• Size of the holdings: about $93.8 million at Nov 28, 2025; $96.2 million at Nov 29, 2024; $95.6 million at Nov 30, 2023. From the fund's quarterly holdings reports. Original documents: Nov 28, 2025 →, Nov 29, 2024 →, Nov 30, 2023 →.
• Borrowing: about 30% on top of its own money at Nov 28, 2025; 32% at Nov 29, 2024; 32% at Nov 30, 2023. From the fund's quarterly holdings reports. Original documents: Nov 28, 2025 →, Nov 29, 2024 →, Nov 30, 2023 →.
• The fund had about 11.3 million shares at Nov 30, 2025, about the same as at Nov 30, 2023.As of Nov 30, 2025, from the fund's annual report. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Nov 30, 2025: the shares returned +10%, counting payouts; the holdings +10%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Nov 30, 2025, from the fund's annual report. Original document →
• The year ended Nov 30, 2024: the shares returned +24.1%, counting payouts; the holdings +13.9%. As of Nov 30, 2024, from the fund's annual report. Original document →
• The year ended Nov 30, 2023: the shares returned +2.7%, counting payouts; the holdings +7.2%. As of Nov 30, 2023, from the fund's annual report. Original document →
• The year ended Nov 30, 2022: the shares returned -21.8%, counting payouts; the holdings -14.7%. As of Nov 30, 2022, from the fund's annual report. Original document →
• The year ended Nov 30, 2021: the shares returned +8.2%, counting payouts; the holdings +1.8%. As of Nov 30, 2021, from the fund's annual report. Original document →
• Those five years together: the shares returned +18.6%. $10,000 of shares bought at the start (Dec 1, 2020) would have become about $11,900 by Nov 30, 2025, with every payout counted, before tax. As of Nov 30, 2025, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to Aug 31, 2026: +7.1%. The quarterly reports carry no share price, so this is the holdings alone. As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →
• Of the 61 funds that invest in bonds with a fiscal year ending within six months of this one, 22 reported a higher share return for that year and 38 a lower one. As of Nov 30, 2025, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly bonds (74%), the rest asset-backed bonds, loans and mortgage bonds. About 49% issued in the U.S.

1.8% of holdings are in default.

1. Federal National Mortgage Association - 3.9%
2. Federal Home Loan Mortgage - 2%
3. United States of America - Bureau of the Public Debt - 1.6%
4. Colombia, Republic of - Ministero de Hacienda Y Credito Publico - 1.5%
5. Petroleos de Venezuela SA, Pdvsa 12.75 02/17/22 Regs - 1.3%
6. Oman, Government of the Sultanate of, Oman 6.5 03/08/47 144A - 1.2%
7. South Africa, Republic of - National Treasury, Sagb 8.75 02/28/48 2048 - 1.1%
8. Hungary, Republic of - Ministry of Finance, Rephun 5.5 03/26/36 144A - 1.1%
9. Saudi Arabia, Kingdom of, Ksa 4.5 10/26/46 144A - 0.9%
10. Turkey, Republic of Undersecretariat of Treasury, Turkey 7.625 04/26/29 10Y - 0.9%

As of Aug 31, 2026, from the fund's quarterly holdings report. Original document →