Newfleet Asset Management is a long-tenured team of fixed income specialists who employ a multi-sector approach to investing. Identifying relative value is the cornerstone of the firm’s philosophy and process. Newfleet believes that active sector rotation, based on relative value across the full fixed income universe, combined with rigorous credit analysis and disciplined risk management, is the most effective means of achieving competitive returns in the fixed income market over time. Newfleet has a blend of reinforcing characteristics that positions the firm effectively for alpha generation within the multi-sector fixed income market. • Newfleet has been managing multi-sector portfolios with a relative value approach for more than a quarter of a century. • Key members of the team and essential aspects of the process have been in place over the entire period of time. • Years of collective experience provide an overlay of sound judgment on systematic processes. • An integrated team approach enables cross-fertilization of ideas to maximize ability to identify best relative value opportunities. • A time-tested and repeatable process has evolved proactively as new sectors have emerged and grown. Strategies: Newfleet Asset Management provides comprehensive portfolio management of multi-sector fixed income strategies – short duration, core plus, opportunistic, and flexible credit – as well as dedicated sector strategies including bank loans, high yield, and tax-exempt municipal bonds. Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC (“VFIA”), an SEC registered investment adviser.