SCETX : Virtus Ceredex Small-Cap Value Equity Fund Class I

Fund Summary

The investment seeks to provide capital appreciation, and current income is as a secondary consideration. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in U.S.-traded equity securities of small-capitalization companies. U.S.-traded equity securities may include American Depositary Receipts ("ADRs"). The subadvisor considers small-capitalization companies to be companies with market capitalizations generally within those of companies in the Russell 2000® Index.