Risk Table - Virtus Zevenbergen Technology Fund
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Risk [Text Block] |
| Principal Risks |
Principal
Risks The fund may not achieve its objective(s), and it is not intended to be a complete
investment program. The value of the fund’s investments that supports your share value may decrease.
If between the time you purchase shares and the time you sell shares the value of the fund’s investments
decreases, you will lose money. Investment values can decrease for a number of reasons. Conditions affecting
the overall economy, specific industries or companies in which the fund invests can be worse than expected,
and investments may fail to perform as the subadviser expects. As a result, the value of your shares
may decrease. Purchase and redemption activities by fund shareholders may impact the management of the
fund and its ability to achieve its investment objective(s). The principal risks of investing in the
fund are identified below (in alphabetical order after the first six risks).
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| Risk Lose Money [Member] |
If between the time you purchase shares and the time you sell shares the value of the fund’s investments
decreases, you will lose money.
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| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the spread
of infectious illness or other public health issue, recessions, tariffs and other restrictions on trade,
or the threat or potential of one or more such events and developments, could have a significant impact
on the fund and its investments, including hampering the ability of the fund’s portfolio manager(s)
to invest the fund’s assets as intended.
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| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
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| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
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| Small and Medium Market Capitalization Companies Risk |
> Small
and Medium Market Capitalization Companies Risk: The fund’s investments
in small and medium market capitalization companies may increase the volatility and risk of loss to the
fund, as compared with investments in larger, more established companies.
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| Focused Investment Risk (Technology-Related Risk) |
> Focused Investment Risk (Technology-Related Risk): To
the extent the fund focuses its investments on a limited number of issuers, sectors, industries or geographic
regions, it may be subject to increased risk and volatility. Risks affecting companies in the technology
sector include competition from new and existing companies, limited operating histories and management
experience, patent and other intellectual property considerations and the commercial non-viability or
rapid obsolescence of equipment, products or services.
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| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
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| Currency Rate Risk |
> Currency Rate Risk: Fluctuations in the exchange
rates between the U.S. dollar and foreign currencies may negatively affect the value of the fund’s
shares.
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| Depositary Receipts Risk |
> Depositary Receipts Risk:
Investments in foreign companies through depositary receipts may expose the fund to the same risks as
direct investments in securities of foreign issuers.
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| IPO Risk |
> IPO
Risk: Securities purchased in initial public offerings have no trading
history, limited issuer information and increased volatility.
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| Liquidity Risk |
> Liquidity
Risk: Certain instruments may be difficult or impossible to sell
at a time and price beneficial to the fund.
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| Non-Diversification Risk |
> Non-Diversification
Risk: The fund is not diversified and may be more susceptible to
factors negatively impacting its holdings to the extent the fund invests more of its assets in the securities
of fewer issuers than would a diversified fund.
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| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result in
a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information about
the impact that portfolio turnover can have on your investment.
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| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s NAV and
liquidity. In addition, a large redemption could result in the fund’s current expenses being allocated
over a smaller asset base, leading to an increase in the fund’s expense ratio. Please see “More Information About Risks of Investing in
the Fund” in the fund’s prospectus for a more detailed description of the fund’s risks.
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