485APOS 1 t1401757.htm VIRTUS OPPORTUNITIES TRUST

As filed with the Securities and Exchange Commission on September 12, 2014

File No. 033-65137

File No. 811-07455

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

REGISTRATION STATEMENT

Under the SECURITIES ACT OF 1933

  Pre-Effective Amendment No.    ¨
  Post-Effective Amendment No. 73    x

and/or

REGISTRATION STATEMENT

 

Under the INVESTMENT COMPANY ACT OF 1940

    ¨
  Amendment No. 74    x

(Check appropriate box or boxes)

 

 

Virtus Opportunities Trust

(Exact Name of Registrant as Specified in Charter)

 

 

Area Code and Telephone Number: (800) 243-1574

101 Munson Street

Greenfield, Massachusetts 01301

(Address of Principal Executive Offices)

Kevin J. Carr, Esq.

Counsel

Virtus Investment Partners, Inc.

100 Pearl St.

Hartford, Connecticut 06103

(Name and Address of Agent for Service)

 

 

Copies of All Correspondence to:

David C. Mahaffey, Esq.

Sullivan & Worcester LLP

1666 K Street, N.W.

Washington, D.C. 20006

 

 

It is proposed that this filing will become effective (check appropriate box):

 

  ¨ immediately upon filing pursuant to paragraph (b)
  ¨ on April 30, 2014 pursuant to paragraph (b) of Rule 485
  x 60 days after filing pursuant to paragraph (a)(1)
  ¨ on                  or at such later date as the Commission shall order pursuant to paragraph (a)(2)
  ¨ 75 days after filing pursuant to paragraph (a)(2)
  ¨ on                  pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

 

  ¨ this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 

 
 

 

 

This Post-Effective Amendment consists of the following:

 

1.Facing Sheet of the Registration Statement
2.Supplement dated November 12, 2014 to the Virtus Opportunities Trust prospectus dated January 28, 2014, which contains disclosure required to add Class R6 Shares to the Virtus Dynamic AlphaSector Fund, Virtus Foreign Opportunities Fund, Virtus International Small-Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector Fund and Virtus Real Estate Securities Fund
3.Supplement dated November 12, 2014 to the Virtus Opportunities Trust Statement of Additional Information (“SAI”) dated January 28, 2014, which contains disclosure required to add Class R6 Shares to the Virtus Dynamic AlphaSector Fund, Virtus Foreign Opportunities Fund, Virtus International Small-Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector Fund and Virtus Real Estate Securities Fund
4.Signature Page

 

This Post-Effective Amendment is being filed for the sole purpose of registering Class R6 Shares of the Virtus Dynamic AlphaSector Fund, Virtus Foreign Opportunities Fund, Virtus International Small-Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector Fund and Virtus Real Estate Securities Fund by inserting disclosure into the prospectuses and SAI necessary and appropriate to add Class R6 Shares to these funds.

 

But for the supplemental disclosure filed herewith, Parts A, B and C of Registrant’s Post-Effective Amendment No. 70 to its registration statement filed on January 27, 2014 are incorporated by reference herein and this Post-Effective Amendment No. 73 is being filed for the sole purpose of registering Class R6 Shares of the Virtus Dynamic AlphaSector Fund, Virtus Foreign Opportunities Fund, Virtus International Small-Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector Fund and Virtus Real Estate Securities Fund.

 

 
 

 

Virtus Dynamic AlphaSector® Fund,

Virtus Foreign Opportunities Fund,

Virtus International Small Cap Fund,

Virtus Multi-Sector Intermediate Bond Fund,

Virtus Premium AlphaSector® Fund,

Virtus Real Estate Securities Fund,

each a series of Virtus Opportunities Trust

 

Supplement dated November 12, 2014 to the Summary and

Statutory Prospectuses dated January 31, 2014

 

Important Notice to Investors

 

Effective November 12, 2014, Virtus Dynamic AlphaSector® Fund, Virtus Foreign Opportunities Fund, Virtus International Small-Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector® Fund and Virtus Real Estate Securities Fund began offering Class R6 Shares, in addition to the share classes already offered by each fund. Accordingly, each fund’s prospectuses are hereby amended to add the following disclosures.

 

Virtus Dynamic AlphaSector® Fund

 

The tables under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus are hereby revised to add the Class R6 column as shown below:

 

Shareholder Fees (fees paid directly from your investment) Class R6
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) None
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class R6
Management Fees(a) 1.91%
Distribution and Shareholder Servicing (12b-1) Fees None
Other Expenses  
Dividends on Short Sales and Interest Expense 0.39%
Remainder of Other Expenses(b) 0.22%
Total Other Expenses 0.61%
Acquired Fund Fees and Expenses 0.22%
Total Annual Fund Operating Expenses 2.74%
(a)Management Fees exceed the contractual percentage rate because the Advisory Agreement, as amended, calculates fees based on Managed Assets rather than based on net assets although the table shows the percentage rate as applied to net assets. Managed Assets means the total assets of the fund, including any assets attributable to borrowings, minus the fund’s accrued liabilities other than such borrowings. In the future, performance fee adjustments may increase or decrease the management fee by up to +/- 1.00% of the average net assets of the fund during a rolling 36-month period (or cumulative period since the implementation of the principal investment management changes).
(b)Estimated for current fiscal year, as annualized.

 

The Example table is hereby revised to add the Class R6 row as shown below:

 

 
 

 

  Share Status 1 Year 3 Years 5 Years 10 Years
Class R6 Sold or Held $277 $850 $1,450 $3,070

 

Virtus Foreign Opportunities Fund

 

The tables under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus are hereby revised to add the Class R6 column as shown below:

 

Shareholder Fees (fees paid directly from your investment) Class R6
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) None
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class R6
Management Fees 0.85%
Distribution and Shareholder Servicing (12b-1) Fees None
Other Expenses(a) 0.22%
Acquired Fund Fees and Expenses 0.01%
Total Annual Fund Operating Expenses 1.08%

(a) Estimated for current fiscal year, as annualized.

 

The Example table is hereby revised to add the Class R6 row as shown below:

 

  Share Status 1 Year 3 Years 5 Years 10 Years
Class R6 Sold or Held $110 $343 $595 $1,317

 

Virtus International Small-Cap Fund

 

The tables under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus are hereby revised to add the Class R6 column as shown below:

 

Shareholder Fees (fees paid directly from your investment) Class R6
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) None
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class R6
Management Fees 1.00%
Distribution and Shareholder Servicing (12b-1) Fees None
Other Expenses(a) 1.15%
Acquired Fund Fees and Expenses 0.02%
Total Annual Fund Operating Expenses 2.17%

(a) Estimated for current fiscal year, as annualized.

 

The Example table is hereby revised to add the Class R6 row as shown below:

 

  Share Status 1 Year 3 Years 5 Years 10 Years
Class R6 Sold or Held $220 $679 $1,164 $2,503

 

 
 

 

Virtus Multi-Sector Intermediate Bond Fund

 

The tables under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus are hereby revised to add the Class R6 column as shown below:

 

Shareholder Fees (fees paid directly from your investment) Class R6
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) None
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class R6
Management Fees 0.55%
Distribution and Shareholder Servicing (12b-1) Fees None
Other Expenses(a) 0.23%
Total Annual Fund Operating Expenses 0.78%

(a) Estimated for current fiscal year, as annualized.

 

The Example table is hereby revised to add the Class R6 row as shown below:

 

  Share Status 1 Year 3 Years 5 Years 10 Years
Class R6 Sold or Held $80 $249 $433 $966

 

Virtus Premium AlphaSector® Fund

 

The tables under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus are hereby revised to add the Class R6 column as shown below:

 

Shareholder Fees (fees paid directly from your investment) Class R6
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) None
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class R6
Management Fees 1.10%
Distribution and Shareholder Servicing (12b-1) Fees None
Other Expenses(a) 0.20%
Total Annual Fund Operating Expenses 1.30%

(a) Estimated for current fiscal year, as annualized.

 

The Example table is hereby revised to add the Class R6 row as shown below:

 

  Share Status 1 Year 3 Years 5 Years 10 Years
Class R6 Sold or Held $132 $412 $713 $1,568

 

Virtus Real Estate Securities Fund

 

The tables under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus are hereby revised to add the Class R6 column as shown below:

 

 
 

 

Shareholder Fees (fees paid directly from your investment) Class R6
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) None
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

None

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class R6
Management Fees 0.74%
Distribution and Shareholder Servicing (12b-1) Fees None
Other Expenses(a) 0.22%
Total Annual Fund Operating Expenses 0.96%

(a) Estimated for current fiscal year, as annualized.

 

The Example table is hereby revised to add the Class R6 row as shown below:

 

  Share Status 1 Year 3 Years 5 Years 10 Years
Class R6 Sold or Held $98 $306 $531 $1,178

 

Virtus International Small-Cap Fund and Virtus Premium AlphaSector® Fund

 

Under “More Information About Fund Expenses” on page 139 of the statutory prospectus, the first table showing expense limitations is hereby revised to add a column entitled “Class R6 Shares” and to include 1.32% in the row for Virtus International Small-Cap Fund and 1.38% in the row for Virtus Premium AlphaSector Fund and to include “N/A” in the new Class R6 column in each of the rows for the other funds named in the table.

 

All Funds

 

The disclosure under “Purchase and Sale of Fund Shares” in each fund’s summary prospectus and summary section of the statutory prospectus is hereby revised to include the following information prior to the last paragraph:

 

For Class R6 Shares, there is no minimum initial investment and there is no minimum for additional purchases. R6 Shares are available only to certain employer-sponsored retirement plans, including Section 401(k), 403(b) and 457, profit-sharing, money purchase pension and defined benefit plans and non-qualified deferred compensation plans, in each case provided that plan level or omnibus accounts are held on the books of the fund.

 

The disclosure under “Payments to Broker-Dealers and Other Financial Intermediaries” in each fund’s summary prospectus and summary section of the statutory prospectus is hereby revised to include the following information:

 

No compensation, administrative payments, sub-transfer agency payments or service payments are paid to brokers or other entities from fund assets or the Distributor’s or an affiliate’s resources on sales of or investments in Class R6 Shares. Class R6 Shares do not carry sales commissions or pay Rule 12b-1 fees, or make payments to brokers or other entities to assist in, or in connection with, the sale of the fund’s shares.

 

 
 

 

Under “What are the classes and how do they differ?” on page 214 of the statutory prospectus, the first sentence is revised to indicate that “each fund offers from two to six classes of shares.” Additionally, the table in this section is hereby revised to add a column entitled “Class R6” and to include “None” in each of the rows for Virtus Dynamic AlphaSector® Fund, Virtus Foreign Opportunities Fund, Virtus International Small Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector® Fund and Virtus Real Estate Securities Fund, and to include “N/A” in the new Class R6 column in each of the rows for the other funds named in the table.

 

The following disclosure is hereby added under “What arrangement is best for you?” on page 215 of the statutory prospectus after the description of Class I Shares:

 

Class R6 Shares (Virtus Dynamic AlphaSector® Fund, Virtus Foreign Opportunities Fund, Virtus International Small Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector® Fund and Virtus Real Estate Securities Fund). Class R6 Shares are available only to employer sponsored retirement plans, including profit-sharing and money purchase pension plans, defined benefit plans and non-qualified deferred compensation plans, and plans described in Section 401(k), 403(b) and 457 of the Internal Revenue Code, where the employer, administrator, sponsor or related person has entered into an agreement with the fund’s Transfer Agent to make Class R6 Shares available to plan participants where plan level or omnibus accounts are held on the books of the fund. Class R6 Shares are not available to traditional or Roth IRAs, Coverdell Savings Accounts, Keoghs, SEPs, SARSEPs, or Simple IRAs and are not available through retail, advisory fee-based wrap platforms. Individual shareholders who purchase Class R6 Shares through retirement platforms or other intermediaries are not eligible to hold Class R6 Shares outside of their respective plan or intermediary platform. If you are eligible to purchase and do purchase Class R6 Shares, you will pay no sales charge at any time. There are no distribution and service fees applicable to Class R6 Shares.

 

Under “Compensation to Dealers” on page 219 of the statutory prospectus, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

Class R6 Shares Only

No compensation, administrative payments, sub-transfer agency payments or service payments are paid to brokers or other entities from fund assets or the Distributor’s or an affiliate’s resources on sales of or investments in Class R6 Shares. Class R6 Shares do not carry sales commissions or pay Rule 12b-1 fees, or make payments to brokers or other entities to assist in, or in connection with, the sale of the fund’s shares.

 

Under “Opening an Account” on page 221 of the statutory prospectus, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

Class R6 Shares Only

If you are participating in an employer sponsored retirement plan, such as a 401(k) plan, profit-sharing plan, defined benefit plan or other employer-directed plan, your company will provide you with the information you need to open an account and buy Class R6 Shares.

 

Under “How to Buy Shares” on page 222 of the statutory prospectus, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

 
 

 

Class R6 Shares Only

If you are participating in an employer sponsored retirement plan, such as a 401(k) plan, profit-sharing plan, defined benefit plan or other employer-directed plan, your company will provide you with the information you need to buy Class R6 Shares.

 

Under “How to Sell Shares” on page 222 of the statutory prospectus, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

Class R6 Shares Only

If you are participating in an employer sponsored retirement plan, such as a 401(k) plan, profit-sharing plan, defined benefit plan or other employer-directed plan, your company will provide you with the information you need to sell Class R6 Shares.

 

Under “Things You Should Know When Selling Shares” on page 223 of the statutory prospectus, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

Class R6 Shares Only

If you are participating in an employer sponsored retirement plan, such as a 401(k) plan, profit-sharing plan, defined benefit plan or other employer-directed plan, your company will provide you with the information you need to know when selling Class R6 Shares.

 

Investors should retain this supplement with the

Prospectuses for future reference.

 

VOT 8020 6Funds AddRShares (11/14)

 

 
 

 

Virtus Dynamic AlphaSector® Fund,

Virtus Foreign Opportunities Fund,

Virtus International Small-Cap Fund,

Virtus Multi-Sector Intermediate Bond Fund,

Virtus Premium AlphaSector® Fund,

Virtus Real Estate Securities Fund,

each a series of Virtus Opportunities Trust

 

Supplement dated November 12, 2014 to the

Statement of Additional Information (“SAI”) dated January 31, 2014

 

Important Notice to Investors

 

Effective November 12, 2014, Virtus Dynamic AlphaSector® Fund, Virtus Foreign Opportunities Fund, Virtus International Small-Cap Fund, Virtus Multi-Sector Intermediate Bond Fund, Virtus Premium AlphaSector® Fund and Virtus Real Estate Securities Fund began offering Class R6 Shares, in addition to the share classes already offered by each fund. Accordingly, the SAI is hereby amended to add the following disclosures.

 

The fund and ticker symbol table on the front cover of the SAI is hereby revised to add a column entitled “Class R6 Shares” and to include the ticker symbol [xxxxx] in the row for Virtus Dynamic AlphaSector Fund, [xxxxx] in the row for Virtus Foreign Opportunities Fund, [xxxxx] in the row for Virtus International Small-Cap Fund, [xxxxx] in the row for Virtus Multi-Sector Intermediate Bond Fund, [xxxxx] in the row for Virtus Premium AlphaSector Fund and [xxxxx] in the row for Virtus Real Estate Securities Fund and leaving blank the new Class R6 column in each of the rows for the other funds named in the table.

 

Under “Other Virtus Mutual Funds” on page 15, the rows shown below are hereby revised to indicate that each of these funds offers Class R6 Shares, leaving blank the new Class R6 column in each of the rows for the other funds named in the table:

 

 

Trust

 

Fund

 Class/Shares
R6
Virtus Alternative Trust Alternative Total Solution Fund X
Virtus Equity Trust Mid-Cap Value Fund X
Small-Cap Core Fund X
Virtus Insight Trust Emerging Markets Opportunities Fund X

 

Under “Investment Advisory Agreement and Expense Limitation Agreement” on page 80, the table showing expense limitations is hereby revised to include the following information regarding expense limitations applicable to the new Class R6 Shares for the funds indicated:

 

Fund Class R6 Shares
International Small-Cap Fund 1.32%
Premium AlphaSector Fund 1.38%

 

Under “Dealer Concessions” beginning on page 90, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

 
 

 

Class R6 Shares Only

No compensation, administrative payments, sub-transfer agency payments or service payments are paid to brokers or other entities from fund assets or the Distributor’s or an affiliate’s resources on sales of or investments in Class R6 Shares. Class R6 Shares do not carry sales commissions or pay Rule 12b-1 fees, or make payments to brokers or other entities to assist in, or in connection with, the sale of the fund’s shares.

 

The disclosure under “How to Buy Shares” on page 104 is hereby revised to include the following information after the first paragraph:

 

For Class R6 Shares, there is no minimum initial investment and there is no minimum for additional purchases. R6 Shares are available only to certain employer-sponsored retirement plans, including Section 401(k), 403(b) and 457, profit-sharing, money purchase pension and defined benefit plans and non-qualified deferred compensation plans, in each case provided that plan level or omnibus accounts are held on the books of the fund. If you are participating in an employer sponsored retirement plan, such as a 401(k) plan, profit-sharing plan, defined benefit plan or other employer-directed plan, your company will provide you with the information you need to open an account and buy Class R6 Shares.

 

The following disclosure is hereby added under “Alternative Purchase Arrangement?” on page 106 of the SAI after the description of Class I Shares:

 

Class R6 Shares

Class R6 Shares are available only to employer sponsored retirement plans, including profit-sharing and money purchase pension plans, defined benefit plans and non-qualified deferred compensation plans, and plans described in Section 401(k), 403(b) and 457 of the Internal Revenue Code, where the employer, administrator, sponsor or related person has entered into an agreement with the fund’s Transfer Agent to make Class R6 Shares available to plan participants where plan level or omnibus accounts are held on the books of the fund. Class R6 Shares are not available to traditional or Roth IRAs, Coverdell Savings Accounts, Keoghs, SEPs, SARSEPs, or Simple IRAs and are not available through retail, advisory fee-based wrap platforms. Individual shareholders who purchase Class R6 Shares through retirement platforms or other intermediaries are not eligible to hold Class R6 Shares outside of their respective plan or intermediary platform. If you are eligible to purchase and do purchase Class R6 Shares, you will pay no sales charge at any time. There are no distribution and service fees applicable to Class R6 Shares.

 

Under “How to Redeem Shares” on page 108 of the SAI, a subheading “Class A, Class B, Class C, Class I and Class T Shares Only” is added to indicate that the existing disclosure applies only to those share classes. Following the existing disclosure in this section, the following is hereby added:

 

Class R6 Shares Only

If you are participating in an employer sponsored retirement plan, such as a 401(k) plan, profit-sharing plan, defined benefit plan or other employer-directed plan, your company will provide you with the information you need to sell Class R6 Shares.

 

Investors should retain this supplement with the

SAI for future reference.

 

VOT 8020B SAI 6Funds AddRShares (11/14)

 

 
 

 

 SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant has duly caused this amendment to the registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Hartford and the State of Connecticut on the 12th day of September, 2014.

 

VIRTUS INSIGHT TRUST
 
By: /s/ George R. Aylward
George R. Aylward
President

Pursuant to the requirements of the Securities Act of 1933, as amended, this amendment to the registration statement has been signed below by the following persons in the capacities indicated on the 12th day of September, 2014.

 

Signature

Title

 

/s/ George R. Aylward
 

George R. Aylward

 

 Trustee and President (principal executive officer)
/s/ W. Patrick Bradley
 

W. Patrick Bradley

Senior Vice President, Chief Financial Officer and Treasurer

(principal financial and accounting officer)

/s/ Leroy Keith, Jr.
 

Leroy Keith, Jr.*

Trustee

 

/s/ Philip R. McLoughlin
 

Philip R. McLoughlin*

Trustee and Chairman

 

/s/ Geraldine M. McNamara
 

Geraldine M. McNamara*

Trustee

 

/s/ James M. Oates
 

James M. Oates*

Trustee

 

/s/ Richard E. Segerson
 

Richard E. Segerson*

Trustee

 

/s/ Ferdinand L.J. Verdonck
 

Ferdinand L.J. Verdonck*

 Trustee

 

*By /s/ George R. Aylward
*George R. Aylward, Attorney-in-Fact,
pursuant to a power of attorney