Virtus Duff & Phelps Water A AWTAX

Virtus recently disclosed that Evan Lang gave up his comanager position on Virtus Duff & Phelps Water on April 5, 2024, and had left the firm. David Grumhaus, who is the CIO of Duff & Phelps and who became a comanager on the fund in mid-2022, remains in place and has 31 years of investment experience. Nick Holmes, who became a comanager on the fund in early 2023 and has 14 years of experience, also remains in place. Three analysts continue to provide support, though a former member retired in 2023. The fund's process remains the same, and the team is continuing to target sustainable water solutions and invest in companies actively addressing water scarcity and quality issues to improve the sustainability of global water resources. Given Grumhaus' and Holmes' fairly short tenures on the fund and the significance of Lang's loss, the strategy's Morningstar Medalist Rating is now Under Review.