Virtus Emerging Markets Equity Income Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 11.17 0.0 11.17
Stocks 0.0 0.0 0.0
Bonds 0.0 0.0 0.0
Other 1.32 0.0 1.32
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 86.12 0.0 86.12
Convertible 0.0 0.0 0.0
Preferred 1.39 0.0 1.39

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
iPath MSCI India Index ETN --- --- 4.6
Taiwan Semiconductor Manufacturing Co Ltd 2330 --- 3.34
China Construction Bank Corp H Shares 00939 --- 2.58
Bank Of China Ltd. H Shares BACHF -5.64 2.47
Industrial And Commercial Bank Of China Ltd. H Shares 01398 --- 2.24
China Mobile Ltd. 00941 --- 1.9
Banco Santander Chile BSANTANDER --- 1.72
Ambev SA ABEV3 --- 1.57
Sasol, Ltd. SASOF 0.52 1.56
KT&G Corp KTCIF --- 1.54