0001571049-16-020902.txt : 20161230 0001571049-16-020902.hdr.sgml : 20161230 20161230135447 ACCESSION NUMBER: 0001571049-16-020902 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20161230 DATE AS OF CHANGE: 20161230 EFFECTIVENESS DATE: 20161230 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VIRTUS OPPORTUNITIES TRUST CENTRAL INDEX KEY: 0001005020 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-65137 FILM NUMBER: 162077297 BUSINESS ADDRESS: STREET 1: 101 MUNSON STREET CITY: GREENFIELD STATE: MA ZIP: 01301 BUSINESS PHONE: 800-243-1574 MAIL ADDRESS: STREET 1: 100 PEARL STREET CITY: HARTFORD STATE: CT ZIP: 06103 FORMER COMPANY: FORMER CONFORMED NAME: PHOENIX OPPORTUNITIES TRUST DATE OF NAME CHANGE: 20060127 FORMER COMPANY: FORMER CONFORMED NAME: PHOENIX SENECA FUNDS DATE OF NAME CHANGE: 19990122 FORMER COMPANY: FORMER CONFORMED NAME: SENECA FUNDS DATE OF NAME CHANGE: 19951218 0001005020 S000018007 VIRTUS MULTI-SECTOR INTERMEDIATE BOND FUND C000049915 Class A NAMFX C000049916 Class B NBMFX C000049917 Class C NCMFX C000081781 Class I VMFIX C000148855 Class R6 VMFRX 0001005020 S000020772 VIRTUS SENIOR FLOATING RATE FUND C000058006 Class A PSFRX C000058007 Class C PFSRX C000058008 Class I PSFIX C000176710 Class R6 497 1 t1603172_497.htm VIRTUS OPPORTUNITIES TRUST

Virtus Multi-Sector Intermediate Bond Fund and Virtus Senior Floating Rate Fund,

each a series of Virtus Opportunities Trust

 

 

Supplement dated December 30, 2016 to the Summary Prospectuses dated January 28, 2016,

and the Virtus Opportunities Trust Statutory Prospectus,

dated January 28, 2016, each as supplemented

 

 

Important Notice to Investors

 

Virtus Multi-Sector Intermediate Bond Fund

 

Under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus, the “Annual Fund Operating Expenses” table and associated footnotes are hereby replaced with the following:

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class A Class B

 

 

 

Class C

 Class I

 

 

 

Class R6

Management Fees 0.55% 0.55% 0.55% 0.55% 0.55%
Distribution and Shareholder Servicing (12b-1) Fees 0.25% 1.00% 1.00% None None
Other Expenses 0.30% 0.30% 0.30% 0.30% 0.23%
Acquired Fund Fees and Expenses 0.01% 0.01% 0.01% 0.01% 0.01%
Total Annual Fund Operating Expenses(b) 1.11% 1.86% 1.86% 0.86% 0.79%
Less:  Expense Reimbursement(c) (0.11%) (0.11%) (0.11%) (0.11%) (0.11%)
Total Annual Fund Operating Expenses After Expense Reimbursement(b)(c)

 

1.00%

 

1.75%

 

1.75%

 

0.75%

 

0.68%

(b)The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets appearing in the Financial Highlights tables, which tables reflect only the operating expenses of the fund and do not include acquired fund fees and expenses.
(c)The fund's investment adviser has contractually agreed to limit the fund's total operating expenses (excluding dividend and interest expenses, taxes, brokerage commissions, extraordinary expenses and acquired fund fees and expenses) so that such expenses do not exceed 0.99% for Class A Shares, 1.74% for Class B Shares, 1.74% for Class C Shares, 0.74% for Class I Shares and 0.67% for Class R6 Shares through January 31, 2018. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the time such reimbursement occurred.

 

Under “Fees and Expenses, the “Example” table is hereby replaced with the following:

 

Share Status 1 Year 3 Years 5 Years 10 Years
Class A Sold or Held $473 $704 $953 $1667
Class B Sold $578 $774 $996 $1975
Held $178 $574 $996 $1975
Class C Sold $278 $574 $996 $2171
Held $178 $574 $996 $2171
Class I Sold or Held $77 $263 $466 $1051
Class R6 Sold or Held $69 $241 $428 $968

 

 

   
 

   

Virtus Senior Floating Rate Fund

 

Under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus, the “Annual Fund Operating Expenses” table and associated footnotes are hereby replaced with the following:

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class A

 

 

 

Class C

 Class I

 

 

 

Class R6

Management Fees 0.60% 0.60% 0.60% 0.60%
Distribution and Shareholder Servicing (12b-1) Fees 0.25% 1.00% None None
Interest Expense on Borrowings 0.06% 0.06% 0.06% 0.06%
Other Expenses 0.29% 0.29% 0.29% 0.23%
Total Annual Fund Operating Expenses(b) 1.20% 1.95% 0.95% 0.89%
Less:  Expense Reimbursement(c) (0.20%) (0.20%) (0.20%) (0.20%)
Total Annual Fund Operating Expenses After Expense Reimbursement(b)(c)

 

1.00%

 

1.75%

 

0.75%

 

0.69%

(b)The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets appearing in the Financial Highlights tables, which tables reflect only the operating expenses of the fund and do not include acquired fund fees and expenses.
(c)The fund's investment adviser has contractually agreed to limit the fund's total operating expenses (excluding dividend and interest expenses, leverage expenses, taxes, brokerage commissions, extraordinary expenses and acquired fund fees and expenses) so that such expenses do not exceed 0.94% for Class A Shares, 1.69% for Class C Shares, 0.69% for Class I Shares and 0.63% for Class R6 Shares through January 31, 2018. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the time such reimbursement occurred.

 

Under “Fees and Expenses, the “Example” table is hereby replaced with the following:

 

Share Status 1 Year 3 Years 5 Years 10 Years
Class A Sold or Held $374 $626 $898 $1672
Class C Sold $278 $593 $1034 $2259
Held $178 $593 $1034 $2259
Class I Sold or Held $77 $283 $506 $1148
Class R6 Sold or Held $70 $264 $473 $1078

 

Both Funds

 

In the first table in the section “More Information About Fund Expenses” on page 128 of the statutory prospectus, the row corresponding to the fund is hereby replaced with the following.

 

  Class A Shares Class B Shares Class C Shares Class I Shares Class R6 Shares Class T Shares

 

Through Date

Virtus Multi-Sector Intermediate Bond Fund 0.99% 1.74% 1.74% 0.74% 0.67% N/A January 31, 2018
Virtus Senior Floating Rate Fund 0.94% N/A 1.69% 0.69% 0.63% N/A January 31, 2018

 

Investors should retain this supplement with the Prospectuses for future reference.

 

VOT 8020/MSIB&SFR NewExpCaps (12/16)

 

   
 

 

Virtus Multi-Sector Intermediate Bond Fund and Virtus Senior Floating Rate Fund,

each a series of Virtus Opportunities Trust

 

Supplement dated December 30, 2016 to the Statement of

Additional Information (“SAI”) dated September 23, 2016, as supplemented

 

Important Notice to Investors

 

Under the heading “Investment Advisory Agreement and Expense Limitation Agreement” in the section “Investment Advisory and Other Services” on pages 86-88 of the fund’s SAI, the rows in the second table corresponding to the funds are hereby replaced with the following:

 

  Class A Shares Class B Shares Class C Shares Class I Shares Class R6 Shares Class T Shares

 

Through Date

Virtus Multi-Sector Intermediate Bond Fund 0.99% 1.74% 1.74% 0.74% 0.67% N/A January 31, 2018
Virtus Senior Floating Rate Fund 0.94% N/A 1.69% 0.69% 0.63% N/A January 31, 2018

 

Investors should retain this supplement with the SAI for future reference.

 

 

 

VOT 8020B SAI/MSIB&SFR NewExpCaps (12/16)