1933 Act/Rule 497(e)
October 19, 2012
VIA EDGAR
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
| RE: | Virtus Equity Trust |
File Nos. 002-16590 and 811-00945
To The Commission Staff:
On behalf of Virtus Equity Trust (the “Trust” or “Registrant”), transmitted herewith for filing under Rule 497(e) under the Securities Act of 1933 and the Investment Company Act of 1940, are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in the prospectus for Virtus Balanced Fund (the “Fund”) as filed under Rule 497(e) on October 5, 2012. The purpose of this filing is to submit the 497(e) filing dated October 5, 2012 in XBRL for the Fund.
Please contact Ann Flood at (860) 263-4746 or the undersigned at (860) 263-4791 if you have any questions concerning this filing.
| Very truly yours, |
| /s/ Kevin J. Carr |
| Kevin J. Carr |
cc: Ann Flood
Virtus Balanced Fund, a series of Virtus Equity Trust Supplement dated October 5, 2012 to the Summary Prospectus and Statutory Prospectus dated July 31, 2012, as supplemented IMPORTANT NOTICE TO INVESTORS Effective October 3, 2012, a number of modifications affecting the fixed income portion of Virtus Balanced Fund have taken place. These changes are described more fully below.
Accordingly, the disclosure under “Principal Investment Strategies” in the fund’s summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following: Invested in approximately 60% equity and 40% fixed income, this fund may be suitable for investors who want income and growth from one fund. For the fund’s equity allocation, the subadviser employs a Growth at a Reasonable Price philosophy in the security selection process. Top-down and econometric sector analysis, as well as industry level and fundamental security analysis, are utilized to identify securities that the subadviser believes offer superior return opportunity. For the fixed income allocation, the subadviser employs a time-tested approach of active sector rotation, extensive credit research and disciplined risk management designed to capitalize on opportunities across undervalued areas of the fixed income markets. Under normal market circumstances, the fund invests at least 65% of its assets in common stocks and fixed income securities of both U.S. and foreign issuers, including issuers in “emerging market” countries, and may invest in companies of any size. The fund invests the fixed income portion of its portfolio primarily in investment grade bonds; however, it may invest in high yield-high risk fixed income securities (junk bonds). The disclosure under “Principal Risks” in the fund’s summary prospectus and the summary section of the statutory prospectus is hereby modified by adding the following: > Loan Participation Risk. The risk that there may not be a readily available market for loan participation interests and, in some cases, the fund may have to dispose of such securities at a substantial discount from face value. Loan participations also involve the credit risk associated with the underlying corporate borrower. |
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| Label | Element | Value | ||||
|---|---|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |||||
| Registrant Name | dei_EntityRegistrantName | VIRTUS EQUITY TRUST | ||||
| Prospectus Date | rr_ProspectusDate | Jul. 31, 2012 | ||||
| Supplement [Text Block] | vet3_SupplementTextBlock | Virtus Balanced Fund, a series of Virtus Equity Trust Supplement dated October 5, 2012 to the Summary Prospectus and Statutory Prospectus dated July 31, 2012, as supplemented IMPORTANT NOTICE TO INVESTORS Effective October 3, 2012, a number of modifications affecting the fixed income portion of Virtus Balanced Fund have taken place. These changes are described more fully below.
Accordingly, the disclosure under “Principal Investment Strategies” in the fund’s summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following: Invested in approximately 60% equity and 40% fixed income, this fund may be suitable for investors who want income and growth from one fund. For the fund’s equity allocation, the subadviser employs a Growth at a Reasonable Price philosophy in the security selection process. Top-down and econometric sector analysis, as well as industry level and fundamental security analysis, are utilized to identify securities that the subadviser believes offer superior return opportunity. For the fixed income allocation, the subadviser employs a time-tested approach of active sector rotation, extensive credit research and disciplined risk management designed to capitalize on opportunities across undervalued areas of the fixed income markets. Under normal market circumstances, the fund invests at least 65% of its assets in common stocks and fixed income securities of both U.S. and foreign issuers, including issuers in “emerging market” countries, and may invest in companies of any size. The fund invests the fixed income portion of its portfolio primarily in investment grade bonds; however, it may invest in high yield-high risk fixed income securities (junk bonds). The disclosure under “Principal Risks” in the fund’s summary prospectus and the summary section of the statutory prospectus is hereby modified by adding the following: > Loan Participation Risk. The risk that there may not be a readily available market for loan participation interests and, in some cases, the fund may have to dispose of such securities at a substantial discount from face value. Loan participations also involve the credit risk associated with the underlying corporate borrower. |
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|
VIRTUS BALANCED FUND
|
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| Risk/Return: | rr_RiskReturnAbstract | |||||
| Supplement [Text Block] | vet3_SupplementTextBlock | Virtus Balanced Fund, a series of Virtus Equity Trust Supplement dated October 5, 2012 to the Summary Prospectus and Statutory Prospectus dated July 31, 2012, as supplemented IMPORTANT NOTICE TO INVESTORS Effective October 3, 2012, a number of modifications affecting the fixed income portion of Virtus Balanced Fund have taken place. These changes are described more fully below.
Accordingly, the disclosure under “Principal Investment Strategies” in the fund’s summary prospectus and in the summary section of the statutory prospectus is hereby replaced with the following: Invested in approximately 60% equity and 40% fixed income, this fund may be suitable for investors who want income and growth from one fund. For the fund’s equity allocation, the subadviser employs a Growth at a Reasonable Price philosophy in the security selection process. Top-down and econometric sector analysis, as well as industry level and fundamental security analysis, are utilized to identify securities that the subadviser believes offer superior return opportunity. For the fixed income allocation, the subadviser employs a time-tested approach of active sector rotation, extensive credit research and disciplined risk management designed to capitalize on opportunities across undervalued areas of the fixed income markets. Under normal market circumstances, the fund invests at least 65% of its assets in common stocks and fixed income securities of both U.S. and foreign issuers, including issuers in “emerging market” countries, and may invest in companies of any size. The fund invests the fixed income portion of its portfolio primarily in investment grade bonds; however, it may invest in high yield-high risk fixed income securities (junk bonds). The disclosure under “Principal Risks” in the fund’s summary prospectus and the summary section of the statutory prospectus is hereby modified by adding the following: > Loan Participation Risk. The risk that there may not be a readily available market for loan participation interests and, in some cases, the fund may have to dispose of such securities at a substantial discount from face value. Loan participations also involve the credit risk associated with the underlying corporate borrower. |
|
Document and Entity Information
|
12 Months Ended |
|---|---|
|
Jul. 31, 2012
|
|
| Risk/Return: | |
| Document Type | Other |
| Document Period End Date | Mar. 31, 2012 |
| Registrant Name | VIRTUS EQUITY TRUST |
| Central Index Key | 0000034273 |
| Amendment Flag | false |
| Document Creation Date | Oct. 05, 2012 |
| Document Effective Date | Oct. 05, 2012 |
| Prospectus Date | Jul. 31, 2012 |
| Label | Element | Value |
|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |
| Registrant Name | dei_EntityRegistrantName | VIRTUS EQUITY TRUST |
| Prospectus Date | rr_ProspectusDate | Jul. 31, 2012 |
| Document Creation Date | dei_DocumentCreationDate | Oct. 05, 2012 |