Virtus Duff & Phelps Sel MLP & Engy C (Virtus Duff & Phelps Select MLP) Fonds

Under normal circumstances, the fund invests at least 80% of its assets in securities of master limited partnerships ("MLPs") and/or other equity securities in energy and energy-related industries. Its allocation to ETNs and/or structured notes will vary over time, has generally been in the 0-3% range, and will not exceed 10% of assets. The fund is non-diversified.