Virtus Closed-End Funds Announce Results of Joint Special Meetings of Shareholders

HARTFORD, Conn., Nov. 4, 2019

ZF and ZTR
At the joint special meeting of ZF and ZTR, shareholders of ZF approved the reorganization of ZF into ZTR, and shareholders of ZTR approved that fund's issuance of additional shares of common stock to effect the reorganization. In addition, shareholders of ZTR approved Duff & Phelps Investment Management Co., a current subadviser of ZF, as the subadviser of the equity portion of ZTR's portfolio.

As a result of this vote, shares of the reorganized fund, which will be named Virtus Total Return Fund Inc., will begin trading on Monday, November 18, under the ticker "ZTR" and CUSIP 92835W107. ZF will cease trading and dissolve as of the close of business on Friday, November 15.

Shareholders of ZTR also approved the election of Donald C. Burke and Sidney E. Harris as Class I directors; John R. Mallin as a Class II director; and Connie D. McDaniel and Geraldine M. McNamara as Class III directors. The directors will begin their terms effective January 1, 2020 for the remaining term of their respective classes, or until their successors have been duly elected and qualified.

The voting results are as follows:

		For		Against ARIVA.DE Börsen-Geflüster Kurse Duff & Phelps Select Energy MLP Fund Inc -   0,00% Virtus Global Dividend & Income Fund Inc. 5,39 $ +0,19% Virtus Global Multi-Sector Income Fund Common Shares of Beneficial Interest 7,27 $ +0,48% Virtus Investment Partners 210,00 € -2,78% Zweig Fund -   0,00%		Abstain
Proposal 1 (ZF) Approve the reorganization of ZF into ZTR		11,004,501.429		942,370.887		523,148.977
Proposal 2 (ZTR) Approve the issuance of additional shares in connection with the reorganization		11,628,630.460		1,225,683.602		559,803.368
Proposal 3 (ZTR) Approve the subadvisory agreement    between Virtus Investment Advisers, Inc., and Duff & Phelps Investment Management Co.		11,835,025.372		786,858.859		792,233.199

DSE and VGI
At the joint special meeting of DSE and VGI, shareholders approved the election of Geraldine M. McNamara as a Class I director/trustee; Donald C. Burke, Sidney E. Harris and John R. Mallin as Class II directors/trustees; and Connie D. McDaniel as a Class III director/trustee. They will begin their terms effective January 1, 2020 for the remaining term of their respective classes, or until their successors have been duly elected and qualified.

The voting results are as follows:

For more information about the funds contact Shareholder Services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section on the web at www.virtus.com.

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SOURCE Virtus Investment Partners, Inc.