Virtus KAR International Small-Mid Cap Fund - Class A

This fund's primary objective is to achieve long-term growth in its asset value. Ordinarily, a minimum of 80% of its capital is allocated to equity instruments of smaller and medium-sized companies based outside the United States. The portfolio manager endeavors to distribute investments across various nations, aiming for representation from diverse international business sectors. The types of equity holdings the fund may acquire include common shares, preferred shares, and American Depositary Receipts (ADRs). It is important to note that this fund operates as non-diversified.