POWER OF ATTORNEY

     Know all by these presents, that the undersigned hereby constitutes and
appoints each of Kevin J. Carr, Mark S. Flynn and Jennifer S. Fromm, the
undersigneds true and lawful attorney-in-fact to:

     (1) execute for and on behalf of the undersigned, in the undersigneds
capacity as an officer and/or director of Virtus Mutual Funds on behalf of
the Virtus Total Return Fund (the Fund), Forms 3, 4, and 5 in accordance
with Section 16(a) of the Securities Exchange Act of 1934 and the rules
thereunder, and any other forms or reports the undersigned may be required
to file in connection with the undersigneds ownership, acquisition, or
disposition of securities of the Fund;

     (2) do and perform any and all acts for and on behalf of the undersigned
which may be necessary or desirable to complete and execute any such Form 3,
4, or 5, or other form or report, and timely file such form or report with the
United States Securities and Exchange Commission and any stock exchange or
similar authority; and

     (3) take any other action of any type whatsoever in connection with the
foregoing which, in the opinion of such attorney-in-fact, may be of benefit to,
in the best interest of, or legally required by, the undersigned, including
without limitation, the completion and signing of any document that may be
required to obtain EDGAR codes or any other required filing codes on behalf
of the undersigned, it being understood that the documents executed by such
attorney-in-fact on behalf of the undersigned pursuant to the Power of
Attorney shall be in such form and shall contain such terms and conditions
as such attorney-in-fact may approve in such attorney-in-facts discretion.

     The undersigned hereby grants to each such attorney-in-fact full power
and authority to do and perform any and every act and thing whatsoever
requisite, necessary, or proper to be done in the exercise of any of the
rights and powers herein granted, as fully to all intents and purposes as
the undersigned might or could do if personally present, with full power
of substitution or revocation, hereby ratifying and confirming all that
such attorney-in-fact, or such attorney-in-facts substitute or substitutes,
shall lawfully do or cause to be done by virtue of this power of attorney
and the rights and powers herein granted. The undersigned acknowledges that
the foregoing attorneys-in-fact, in serving in such capacity at the request
of the undersigned, are not assuming, nor is the Fund assuming, any of the
undersigneds responsibilities to comply with Section 16 of the Securities
Exchange Act of 1934.

     This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4, and 5 with respect to
the undersigneds holdings of and transactions in securities issued by the
Fund,unless earlier revoked by the undersigned in a signed writing delivered
to the foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of this 1st day of July, 2012.

/s/William R. Moyer
_____________________________________________
William R. Moyer