https://www.sec.gov/Archives/edgar/data/1005020/000110465920099646/tm2029720d1_497e.htm97 1 tm2029720d1_497e.htm VIRTUS RAMPART EQUITY TREND FUND
VIRTUS OPPORTUNITIES TRUST
Virtus Rampart Equity Trend Fund
101 Munson Street
Greenfield, MA 01301
(800) 243-1574
IMPORTANT NOTICE REGARDING CHANGES TO THE FUND’S SUBADVISER, NAME, PRINCIPAL INVESTMENT STRATEGIES AND PRINCIPAL RISKS
August 27, 2020
Dear Shareholder:
I am writing to inform you of important changes to the subadviser, name, principal investment strategies, and principal risks for the Virtus Rampart Equity Trend Fund, to be renamed the Virtus FORT Trend Fund (the “Fund”).
As previously communicated, on June 17, 2020, the Board of Trustees of Virtus Opportunities Trust approved the replacement of the Fund’s current subadviser, Rampart Investment Management, LLC, with FORT Investment Management LP (“FORT”), and in connection therewith, a change to the Fund’s name, principal investment strategies and principal risks, in order to address concerns that the Fund’s current strategy was not performing as expected due to changes in the way the market operates since the current investment strategies and the quantitative model on which they were based were established. The Board’s approval was based upon the recommendation of Virtus Investment Advisers, Inc. (the “Adviser”), the investment adviser to the Fund. The changes to the Fund were disclosed in a supplement to the Fund’s prospectus dated June 18, 2020, and are anticipated to take effect on or about August 31, 2020 (“Effective Date”).
In summary, the Fund will continue to seek long-term capital appreciation. Consistent with this objective, as of the Effective Date, the Fund’s investment program will consist of two elements: (i) an actively managed portfolio of a broad spectrum of worldwide financial and non-financial futures contracts, which may include, but are not limited to, contracts on short-term interest rates, bonds, currencies, stock indices, energy, metals and agricultural commodities; and (ii) a portfolio of cash equivalents, U.S. government securities (including money market funds that invest solely in U.S. government securities) and other short-term, high grade debt instruments. The Fund expects to seek to gain its exposure to the futures contracts described in this section by investing up to 25% of its total assets in a wholly-owned subsidiary of the fund (the “Subsidiary”) organized as a company under the laws of the Cayman Islands. The Fund may also engage in short sales of any instrument that it is permitted to purchase for investment, and may invest without restriction as to country, currency, or underlying asset type. As of the Effective Date, the Fund will therefore maintain the potential for a significant allocation to cash or cash equivalents and high-quality short-term securities but, unlike before, the Fund will hold interests in derivatives and commodities rather than equity securities.
In connection with the new strategy, as of the Effective Date, the Fund will no longer be subject to Equity Securities Risk and Sector Focused Investing Risk as principal risks, and it will be subject to the following new principal risks..:
Comments
https://www.sec.gov/Archives/edgar/data/1005020/000110465920100855/tm2029720d5_497.htm
497 1 tm2029720d5_497.htm VIRTUS FORT TREND FUND
Virtus Rampart Equity Trend Fund,
a series of Virtus Opportunities Trust
Supplement dated August 31, 2020 to the
Statutory Prospectus and Statement of Additional Information (“SAI”),
each dated January 28, 2020, as supplemented
IMPORTANT NOTICE TO INVESTORS
The statutory prospectus and SAI for Virtus Opportunities Trust have been updated to reflect changes to Virtus Rampart Equity Trend Fund, including a name change.
Effective August 31, 2020, the Virtus Rampart Equity Trend Fund’s name has been changed to Virtus FORT Trend Fund (the “Fund”). The disclosure for Virtus Rampart Equity Trend Fund in the Virtus Opportunities Trust statutory prospectus and SAI is no longer valid. Please see the Fund’s separate statutory prospectus, summary prospectus and SAI for additional disclosure regarding these changes.
Investors should retain this amendment with the
Prospectuses and SAI for future reference.
VOT 8020 RampartEquityTrendFORTChanges (8/2020)