XML 10 R121.htm IDEA: XBRL DOCUMENT v2.4.0.8
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2013
Entity Registrant Name dei_EntityRegistrantName VIRTUS OPPORTUNITIES TRUST
Entity Central Index Key dei_EntityCentralIndexKey 0001005020
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol vot
Document Creation Date dei_DocumentCreationDate Jan. 27, 2014
Document Effective Date dei_DocumentEffectiveDate Jan. 28, 2014
Prospectus Date rr_ProspectusDate Jan. 28, 2014
VIRTUS GLOBAL DIVIDEND FUND
  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Global Dividend Fund
Objective [Heading] rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The fund has investment objectives of capital appreciation and current income.
Expense [Heading] rr_ExpenseHeading
Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The tables below illustrate all fees and expenses that you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Virtus Mutual Funds. More information about these and other discounts is available from your financial advisor and under “Sales Charges” on page 215 of the fund’s prospectus and “Alternative Purchase Arrangements” on page 103 of the fund’s statement of additional information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption
Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 14% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 14.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock
Generally, Class A Shares are not subject to any charges by the Fund when redeemed; however, a contingent deferred sales charge may be imposed on certain redemptions (i) within 18 months on exchanges from a Virtus non-money market fund into a Virtus money market fund; and (ii) on purchases on which a finder’s fee has been paid. The 18-month period begins on the last day of the month preceding the month in which the purchase was made. The deferred sales charge is imposed on Class C Shares redeemed during the first year only.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Virtus Mutual Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent
Restated to reflect current expenses.
Expense Example [Heading] rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading
Investments, Risks and Performance
Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
The fund invests globally in infrastructure companies involved in the energy, utility, transportation, and communications industries. Infrastructure companies are believed by the subadviser to exhibit attractive risk/return characteristics, offer moderate-to-high income and moderate growth, and be defensive in nature.
Under normal market conditions, the fund invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Under normal market conditions, the fund will invest at least 25% of its assets in securities of U.S. issuers. Although the fund concentrates its investments in infrastructure companies, it may invest up to 20% of its assets in securities of issuers that are not infrastructure companies, including stocks, debt obligations, money market securities and money market mutual funds, as well as certain derivative instruments. To the extent the fund purchases non-infrastructure stocks, they may be of issuers of any capitalization. When investing in debt obligations, the fund will invest primarily in investment grade debt obligations, although it may invest in high-yield, high-risk fixed income securities (junk bonds).
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration
Under normal market conditions, the fund invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Although the fund concentrates its investments in infrastructure companies, it may invest up to 20% of its assets in securities of issuers that are not infrastructure companies, including stocks, debt obligations, money market securities and money market mutual funds, as well as certain derivative instruments.
Risk [Heading] rr_RiskHeading
Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
The fund may not achieve its objective, and it is not intended to be a complete investment program. The value of the fund’s investments that supports your share value may decrease. If between the time you purchase shares and the time you sell shares the value of the fund’s investments decreases, you will lose money. Investment values can decrease for a number of reasons. Conditions affecting the overall economy, specific industries or companies in which the fund invests can be worse than expected, and investments may fail to perform as the subadviser expects. As a result, the value of your shares may decrease. Purchase and redemption activities by fund shareholders may impact the management of the fund and its ability to achieve its investment objective(s). The redemption by one or more large shareholders or groups of shareholders of their holdings in the fund could have an adverse impact on the remaining shareholders in the fund including by accelerating the realization of capital gains and increasing the fund's transaction costs. The principal risks of investing in the fund are:
 
>
  • Credit Risk. The risk that the issuer of a security will fail to pay interest or principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of the security to decline.
>
  • Derivatives Risk. The risk that the fund will incur a loss greater than the fund’s investment in, or will experience greater share price volatility as a result of investing in, a derivative contract. Derivatives may include, among other things, futures, options, forwards and swap agreements and may be used in order to hedge portfolio risks, create leverage, or to attempt to increase yield.
>
  • Equity Securities Risk. The risk that events negatively affecting issuers, industries or financial markets in which the fund invests, will impact the value of the stocks held by the fund and thus, the value of the fund’s shares over short or extended periods. Investments in a particular style or in small or medium-sized companies may enhance that risk.
>
  • Foreign Investing Risk. The risk that the prices of foreign securities in the fund’s portfolio will be more volatile than those of domestic securities, or will be negatively affected by currency fluctuations or economic, political or other developments.
>
  • High-Yield/High-Risk Fixed Income Securities (Junk Bonds) Risk. The risk that the issuers of high-yield/ high-risk securities in the fund’s portfolio will default, that the prices of such securities will be volatile, and that the securities will not be liquid.
>
  • Income Risk. The risk that income received from the fund will vary widely over the short- and long-term.
>
  • Industry/Sector Concentration Risk. The risk that events negatively affecting infrastructure companies will cause the value of the fund’s shares to decrease, perhaps significantly. Since the fund concentrates its assets in infrastructure companies, the fund is more vulnerable to conditions that negatively affect infrastructure companies as compared to a fund that does not concentrate holdings in such companies.
>
  • Infrastructure-Related Investment Risk. The risk that the value of the fund’s shares will decrease as a result of conditions, such as general or local economic conditions and political developments, changes in regulations, environmental problems, casualty losses, and changes in interest rates, negatively affecting the infrastructure companies in which the fund invests.
>
  • Interest Rate Risk. The risk that when interest rates rise, the values of the fund’s debt securities, especially those with longer maturities, will fall.
>
  • Market Volatility Risk. The risk that the value of the securities in which the fund invests may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be temporary or may last for extended periods.
>
  • Master Limited Partnership (MLP) Risk. The risk that the fund’s investments in MLP units will be negatively impacted by tax law changes, regulatory developments or other factors affecting the MLP’s underlying assets.
>
  • Preferred Stock Risk. The risk that a preferred stock will decline in price, fail to pay dividends when expected, or be illiquid.
Risk Lose Money [Text] rr_RiskLoseMoney
If between the time you purchase shares and the time you sell shares the value of the fund’s investments decreases, you will lose money.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading
Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The bar chart and table below provide some indication of the potential risks of investing in the fund. The fund’s past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future.
The bar chart shows changes in the fund’s performance from year to year over the life of the fund. The table shows how the fund’s average annual returns compare to those of a broad-based securities market index and with a composite benchmark that reflects the market sectors in which the fund invests. Updated performance information is available at virtus.com or by calling 800-243-1574.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns
The bar chart shows changes in the fund’s performance from year to year over the life of the fund. The table shows how the fund’s average annual returns compare to those of a broad-based securities market index and with a composite benchmark that reflects the market sectors in which the fund invests.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-243-1574
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress virtus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture
The fund’s past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading
Calendar year total returns for Class A Shares; includes returns of a predecessor fund)
Bar Chart Narrative [Text Block] rr_BarChartNarrativeTextBlock

Annual Return (%)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
 
Best Quarter:
 
 
Q3/2010:
 
 
16.39%
 
 
Worst Quarter:
 
 
Q3/2008:
 
 
-16.55%
 
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns (for the periods ended 12/31/13; includes returns of a predecessor fund)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown
After-tax returns are shown only for Class A Shares; after-tax returns for other classes will vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher
In certain cases, the Return After Taxes on Distributions and Sale of Fund Shares for a period may be higher than other return figures for the same period. This will occur when a capital loss is realized upon the sale of fund shares and provides an assumed tax benefit that increases the return.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock
Returns reflect deduction of maximum sales charges and full redemption at end of periods shown.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock
The S&P 500​® Index is a free-float adjusted market capitalization-weighted index of 500 of the largest U.S. companies and is provided for general comparative purposes. The S&P 500​® Index is calculated on a total return basis with dividends reinvested. The Global Dividend Linked Benchmark consists of the MSCI World Infrastructure Sector Capped Index for the period since September 1, 2008. This is a market capitalization weighted index that measures performance of global infrastructure companies by capturing broad and diversified opportunities across telecommunication, utilities, energy, transportation and social infrastructure sectors. The telecommunication infrastructure and utilities sector each represent one-third of the index weight, while energy, transportation and social infrastructure sectors have a combined weight of the remaining one-third of the index. Performance of the Global Dividend Linked Benchmark prior to September 1, 2008 represents an allocation consisting of 65% MSCI USA/Utilities Index, 20% MSCI World Telecom Services Index, and 15% MSCI World ex USA/Utilities Index. The indexes are unmanaged and not available for direct investment.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for Class A Shares; after-tax returns for other classes will vary. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities. In certain cases, the Return After Taxes on Distributions and Sale of Fund Shares for a period may be higher than other return figures for the same period. This will occur when a capital loss is realized upon the sale of fund shares and provides an assumed tax benefit that increases the return.
VIRTUS GLOBAL DIVIDEND FUND | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PGUAX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.36% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.26%
1 Year rr_ExpenseExampleYear01 696
3 Years rr_ExpenseExampleYear03 952
5 Years rr_ExpenseExampleYear05 1,227
10 Years rr_ExpenseExampleYear10 2,010
1 Year rr_ExpenseExampleNoRedemptionYear01 696
3 Years rr_ExpenseExampleNoRedemptionYear03 952
5 Years rr_ExpenseExampleNoRedemptionYear05 1,227
10 Years rr_ExpenseExampleNoRedemptionYear10 2,010
2005 rr_AnnualReturn2005 5.52%
2006 rr_AnnualReturn2006 28.00%
2007 rr_AnnualReturn2007 21.54%
2008 rr_AnnualReturn2008 (31.02%)
2009 rr_AnnualReturn2009 16.16%
2010 rr_AnnualReturn2010 8.35%
2011 rr_AnnualReturn2011 10.16%
2012 rr_AnnualReturn2012 11.17%
2013 rr_AnnualReturn2013 16.16%
Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.39%
Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (16.55%)
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 9.48%
5 Years rr_AverageAnnualReturnYear05 11.03%
Since Inception rr_AverageAnnualReturnSinceInception 7.45%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | Class C
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PGUCX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [3]
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.36% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.01%
1 Year rr_ExpenseExampleYear01 304
3 Years rr_ExpenseExampleYear03 630
5 Years rr_ExpenseExampleYear05 1,083
10 Years rr_ExpenseExampleYear10 2,338
1 Year rr_ExpenseExampleNoRedemptionYear01 204
3 Years rr_ExpenseExampleNoRedemptionYear03 630
5 Years rr_ExpenseExampleNoRedemptionYear05 1,083
10 Years rr_ExpenseExampleNoRedemptionYear10 2,338
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 15.30%
5 Years rr_AverageAnnualReturnYear05 11.55%
Since Inception rr_AverageAnnualReturnSinceInception 7.36%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | Class I
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PGIUX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.65%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.36% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.01%
1 Year rr_ExpenseExampleYear01 103
3 Years rr_ExpenseExampleYear03 322
5 Years rr_ExpenseExampleYear05 558
10 Years rr_ExpenseExampleYear10 1,236
1 Year rr_ExpenseExampleNoRedemptionYear01 103
3 Years rr_ExpenseExampleNoRedemptionYear03 322
5 Years rr_ExpenseExampleNoRedemptionYear05 558
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,236
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 16.52%
5 Years rr_AverageAnnualReturnYear05 12.69%
Since Inception rr_AverageAnnualReturnSinceInception 5.05%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 06, 2008
VIRTUS GLOBAL DIVIDEND FUND | Return After Taxes on Distributions | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 9.12%
5 Years rr_AverageAnnualReturnYear05 10.95%
Since Inception rr_AverageAnnualReturnSinceInception 7.13%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | Return After Taxes on Distributions and Sale of Fund Shares | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 6.14%
5 Years rr_AverageAnnualReturnYear05 9.28%
Since Inception rr_AverageAnnualReturnSinceInception 6.38%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | S&P 500 ® Index (reflects no deduction for fees, expenses or taxes)
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 32.39%
5 Years rr_AverageAnnualReturnYear05 17.94%
VIRTUS GLOBAL DIVIDEND FUND | S&P 500 ® Index (reflects no deduction for fees, expenses or taxes) | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 7.04%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | S&P 500 ® Index (reflects no deduction for fees, expenses or taxes) | Class C
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 7.04%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | S&P 500 ® Index (reflects no deduction for fees, expenses or taxes) | Class I
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 8.02%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 06, 2008
VIRTUS GLOBAL DIVIDEND FUND | Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 19.51%
5 Years rr_AverageAnnualReturnYear05 10.47%
VIRTUS GLOBAL DIVIDEND FUND | Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes) | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 7.50%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes) | Class C
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 7.50%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2004
VIRTUS GLOBAL DIVIDEND FUND | Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes) | Class I
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 3.08%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 06, 2008
[1] Generally, Class A Shares are not subject to any charges by the Fund when redeemed; however, a contingent deferred sales charge may be imposed on certain redemptions (i) within 18 months on exchanges from a Virtus non-money market fund into a Virtus money market fund; and (ii) on purchases on which a finder's fee has been paid. The 18-month period begins on the last day of the month preceding the month in which the purchase was made.
[2] Restated to reflect current expenses.
[3] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.