Virtus Convertible Fund Institutional Class ANNPX

This fund’s entire investment team was uprooted in 2022 when it transitioned to Voya Investment Management from Allianz Global Investors in 2022, following a regulatory ban imposed on the latter. Despite the turmoil, chief investment officer Justin Kass was able to grow the now-21-strong research group, adding junior analysts and specialists to better cover the breadth of its investment universe. Kass, who is also co-head of Voya’s income and growth team, remained a manager on this convertible strategy despite his promotion to CIO in 2022. However, he ceded his role as its leader to Ethan Turner that same year. Turner officially became a named manager in January 2023 but had worked closely with Kass for a decade before that. Kass and Turner’s role transitions were well-orchestrated and telegraphed ahead of time, which is evidence of good succession planning.