<SEC-DOCUMENT>0001144204-18-054175.txt : 20181115
<SEC-HEADER>0001144204-18-054175.hdr.sgml : 20181115
<ACCEPTANCE-DATETIME>20181017142100
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-18-054175
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20181017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Duff & Phelps Select Energy MLP Fund Inc.
		CENTRAL INDEX KEY:			0001603998
		IRS NUMBER:				465230014
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103
		BUSINESS PHONE:		(866) 270-7598

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Duff & Phelps Energy MLP Total Return Fund Inc.
		DATE OF NAME CHANGE:	20140328

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTUS EQUITY TRUST
		CENTRAL INDEX KEY:			0000034273
		IRS NUMBER:				036066130
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		101 MUNSON STEET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		800-243-1574

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOENIX EQUITY TRUST
		DATE OF NAME CHANGE:	20040628

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOENIX ABERDEEN WORLDWIDE OPPORTUNITIES FUND
		DATE OF NAME CHANGE:	19981215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOENIX WORLDWIDE OPPORTUNITIES FUND
		DATE OF NAME CHANGE:	19940505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Virtus Total Return Fund Inc.
		CENTRAL INDEX KEY:			0000812090
		IRS NUMBER:				133353326
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		100 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		800-272-2700

	MAIL ADDRESS:	
		STREET 1:		100 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZWEIG FUND INC /MD/
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTUS GLOBAL DIVIDEND & INCOME FUND INC.
		CENTRAL INDEX KEY:			0000836412
		IRS NUMBER:				133474242
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		800-272-2700

	MAIL ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIRTUS GLOBAL DIVIDEND & INCOME FUND
		DATE OF NAME CHANGE:	20160929

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZWEIG TOTAL RETURN FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTUS OPPORTUNITIES TRUST
		CENTRAL INDEX KEY:			0001005020
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		800-243-1574

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOENIX OPPORTUNITIES TRUST
		DATE OF NAME CHANGE:	20060127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOENIX SENECA FUNDS
		DATE OF NAME CHANGE:	19990122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SENECA FUNDS
		DATE OF NAME CHANGE:	19951218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Virtus Global Multi-Sector Income Fund
		CENTRAL INDEX KEY:			0001528811
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103
		BUSINESS PHONE:		860-243-1574

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Virtus-Newfleet Global Multi-Sector Income Fund
		DATE OF NAME CHANGE:	20110909

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Newfleet Global Multi-Sector Income Fund
		DATE OF NAME CHANGE:	20110829

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTUS VARIABLE INSURANCE TRUST
		CENTRAL INDEX KEY:			0000792359
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103
		BUSINESS PHONE:		8002487971

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHOENIX EDGE SERIES FUND
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIG EDGE SERIES FUND
		DATE OF NAME CHANGE:	19920304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTUS ALTERNATIVE SOLUTIONS TRUST
		CENTRAL INDEX KEY:			0001589756
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		860.263.4790

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIRTUS ALTERNATIVE SOLUTIONS FUNDS
		DATE OF NAME CHANGE:	20140204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIRTUS ALTERNATIVES TRUST I
		DATE OF NAME CHANGE:	20131022

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ETFis Series Trust I
		CENTRAL INDEX KEY:			0001559109
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1540 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		347-903-7347

	MAIL ADDRESS:	
		STREET 1:		1540 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ETF Actively Managed Trust
		DATE OF NAME CHANGE:	20120926

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Virtus ETF Trust II
		CENTRAL INDEX KEY:			0001648403
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1540 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-493-4383

	MAIL ADDRESS:	
		STREET 1:		1540 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Virtus EFT Trust II
		DATE OF NAME CHANGE:	20150717

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Virtus Total Return Fund
		CENTRAL INDEX KEY:			0001310445
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		101 MUNSON STREET
		CITY:			GREENFIELD
		STATE:			MA
		ZIP:			01301
		BUSINESS PHONE:		800-248-7971

	MAIL ADDRESS:	
		STREET 1:		100 PEARL STREET
		CITY:			HARTFORD
		STATE:			CT
		ZIP:			06103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DCA Total Return Fund
		DATE OF NAME CHANGE:	20090421

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Dividend Capital Realty Income Allocation Fund
		DATE OF NAME CHANGE:	20041202
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding: 0; font-size: 10pt; text-align: center"><IMG SRC="image_001.gif" ALT="">&nbsp;</TD>
    <TD STYLE="width: 20%; padding: 0; border-left: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">100 Pearl Street,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hartford, CT 06103</P></TD>
    <TD STYLE="width: 20%; padding: 0; font-size: 10pt; text-align: center; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">800.248.7971 </FONT></TD>
    <TD STYLE="width: 20%; padding: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VIRTUS.COM</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 11, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission<BR>
Judiciary Plaza<BR>
100 F Street, NE<BR>
Washington, D.C. 20549<BR>
Attention: &#9;Ken Ellington, Division of Investment Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Virtus Funds Shareholder Reports </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Ellington:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you for your telephonic comments on September 11, 2018,
regarding the shareholder reports on Form N-CSR for Virtus Variable Insurance Trust (File Nos. 033-05033 and 811-04642), Virtus
Alternative Solutions Trust (File Nos. 333-191940 and 811-22906), Virtus Equity Trust (File Nos. &nbsp;002-16590 and 811-00945),
Virtus Opportunities Trust (File Nos. 033-65137 and 811-07455), Virtus Global Multi-Sector Income Fund (File Nos. <FONT STYLE="background-color: white">333-176761
and 811-22608), Virtus Total Return Fund (File Nos. 333-120988 and 811-21680), Virtus Global Dividend &amp; Income Fund Inc. (File
Nos. 333-169516 and 811-05620), Virtus Total Return Fund Inc. (File Nos. 333-142943 and 811-04739), Duff &amp; Phelps Select Energy
MLP Fund Inc. (File Nos. </FONT>333-195214 and 811-22958), ETFis Series Trust I (File Nos. 333-187668 and 811-22819) and Virtus
ETF Trust II (File Nos. 333-20660 and 811-23078) (such entities, collectively, &ldquo;Registrants&rdquo;), covering their respective
years ended December 31, 2015 through June 30, 2018. Below, we describe the changes to be made to future shareholder reports and/or
the Registrants&rsquo; registration statements in response to the Staff&rsquo;s comments and provide any responses to such comments,
as requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
1.&#9;</FONT>It appears the following funds should be marked as &ldquo;inactive&rdquo; in EDGAR:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin-left: 0in">
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%; padding: 0 0 0 0.25in">S000043803</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 34%; padding: 0 0 0 3pt">Virtus Alternative Income Solution Fund</TD>
    <TD STYLE="white-space: nowrap; width: 40%; padding: 0 0 0 3pt; text-align: justify">Fund liquidated on 5/6/16</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding: 0 0 0 0.25in">S000043804</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding: 0 0 0 3pt">Virtus Alternative Inflation Solution Fund</TD>
    <TD STYLE="white-space: nowrap; padding: 0 0 0 3pt; text-align: justify">Fund liquidated on 5/6/16</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding: 0 0 0 0.25in">S000043805</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding: 0 0 0 3pt">Virtus Alternative Total Solution Fund</TD>
    <TD STYLE="white-space: nowrap; padding: 0 0 0 3pt; text-align: justify">Fund liquidated on 5/6/16</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0 0 0 0.25in">S000046620</TD>
    <TD STYLE="white-space: nowrap; padding: 0 0 0 3pt">Virtus Strategic Income Fund</TD>
    <TD STYLE="white-space: nowrap; padding: 0 0 0 3pt; text-align: justify">Fund liquidated on 5/10/17</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0 0 0 0.25in">S000001385</TD>
    <TD STYLE="white-space: nowrap; padding: 0 0 0 3pt">Virtus Contrarian Value Fund</TD>
    <TD STYLE="white-space: nowrap; padding: 0 0 0 3pt; text-align: justify">Fund merged with and into Virtus Ceredex Mid-Cap Value Fund on 1/19/18</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 1.</U>&nbsp;We have marked
these funds &ldquo;inactive&rdquo; in EDGAR as requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
2.&#9;</FONT>Please confirm that Virtus Total Return Fund <FONT STYLE="background-color: white">(File Nos. 333-120988 and 811-21680),
which merged with and into Virtus Total Return Fund Inc. on April 1, 2017, will file an N-8F to deregister its shares</FONT>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 2.</U>&nbsp;An N-8F for
this fund was filed on October 9, 2018 (SEC Accession No. 0001144204-18-052910).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
3.&#9;</FONT>Certain of the funds disclose that they are no longer using the S&amp;P 500<SUP>&reg;</SUP> Index as their broad-based
index. In future filings, please also disclose the reason for the change as required by Instruction 7 to Item 27(b)(7) of Form
N-1A.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 3.</U>&nbsp;We will add
the requested disclosure to future filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 9pt">Securities
distributed by <B>VP Distributors, LLC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
4.&#9;</FONT>Newfleet Dynamic Credit ETF, a series of Virtus ETF Trust II, had positions marked in its Schedule of Investments
as variable rate instruments. In future reports, in accordance with Article 12-12, footnote 4, of Regulation S-X, for variable
rate securities please indicate a description of the reference rate and spread, and (1) the end of period interest rate or (2)
disclose the end of period reference rate for each reference rate described in the Schedule in a note to the Schedule.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 4.</U>&nbsp;We will add
the requested disclosure to future reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
5.&#9;</FONT>In future reports, for any funds that list options in their Schedules of Investments, if the options purchased and/or
written are over-the-counter derivatives, please disclose the counterparty as required by Article 12-13 of Regulation S-X. If they
are not over-the-counter derivatives, although not required it would be helpful to state that they are not.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 5.</U>&nbsp;We hereby
confirm that the options that have not been marked to disclose the counterparty are not over-the-counter derivatives, and we will
continue to meet this requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
6.&#9;</FONT>In future reports, for any funds that list rights in their Schedules of Investments, please disclose the expiration
date of the rights listed if applicable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 6.</U>&nbsp;We hereby
confirm that for rights with expiration dates we disclose the expiration dates and will continue to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
7.&#9;</FONT>A number of the funds use subadvisers where the subadviser is paid by the adviser. In future reports, please describe
the subadvisory fee arrangements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 7.</U>&nbsp;The subadvisory
fee rates are typically disclosed in our registration statements, although we note that our Manager of Managers exemptive order
permits us not to disclose certain subadvisory fees if we comply with the conditions of the order, so for certain funds we do not
have the subadvisory fee rates listed. We are not aware of a rule that requires the subadvisory fee rates to be listed in shareholder
reports when the fees are paid by the adviser, so we have made no changes in response to this comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
8.&#9;</FONT>In the website disclosure listing monthly distribution data for Virtus Global Multi-Sector Income Fund Inc. and Virtus
Global Dividend &amp; Income Fund Inc., since these funds have historically made significant Return of Capital distributions, the
character of each distribution should be noted to clearly identify the portion of the distribution that is Return of Capital.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 8.</U>&nbsp;We note that
Section 19(a) Notices containing the requested information appear farther down on the referenced websites. We will add a note below
the table to direct shareholders to review the Section 19(a) notices for information regarding the composition of the distributions
including information regarding the portion that is Return of Capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
9.&#9;</FONT>For funds that have significant investments in bank loans, particularly Virtus Newfleet Senior Floating Rate Fund
and Newfleet Dynamic Credit ETF, please confirm that consent fee or amendment income from the funds did not exceed 5% of total
income or, in future Statements of Operations, if consent fee or amendment income does exceed 5% of total income, please disclose
each amount separately. <I>See Regulation S-X 6-07(1).</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 9.</U>&nbsp;So confirmed.
We will add the requested disclosure to future reports as necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
10.&#9;</FONT>Newfleet Dynamic Credit ETF compares its performance in the Growth of $10,000 graph in its Annual Report to a blended
index. Please explain how this has been deemed to be an appropriate broad-based securities market index as required by Item 4(b)(2)(iii)
and Item 27(b)(7), Instruction 5, of Form N-1A, or use an appropriate broad-based securities market index in future filings. We
note that the blended index may be used as a secondary index in accordance with Instruction 6 to Item 27(b)(7)(ii)(B) of Form N-1A.
Alternatively, the components of the blended index may be listed separately.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 10.</U>&nbsp;We will make
the requested change to future reports.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
11.&#9;</FONT>Virtus Herzfeld Fund compares its performance in its Prospectus and in the Growth of $10,000 graph in its Annual
Report to a blended index. Please explain how this has been deemed to be an appropriate broad-based securities market index as
required by Item 4(b)(2)(iii) and Item 27(b)(7), Instruction 5, of Form N-1A, or use an appropriate broad-based securities market
index in future filings. We note that the blended index may be used as a secondary index in accordance with Instruction 6 to Item
27(b)(7)(ii)(B) of Form N-1A. Alternatively, the components of the blended index may be listed separately.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 11.</U>&nbsp;We will make
the requested change to future filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
12.&#9;</FONT>The country weightings listed for Virtus Global Equity Trend Fund show 87% of its holdings in the U.S., with almost
40% of its holdings in U.S. ETFs with exposure outside the U.S. Please explain how this disclosure informs shareholders of the
international nature of the fund&rsquo;s holdings.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 12.</U>&nbsp;The fund&rsquo;s
disclosure regarding its strategy, including the Portfolio Manager Commentary in the same report, discussed the fund&rsquo;s international
exposure, and the Country Weightings chart appeared in the Schedule of Investments directly below where the ETFs in which the fund
invested were identified. However, the Country Weightings chart for this fund (which we note has since been liquidated) was based
on country of incorporation, which resulted in the ETFs being listed as U.S. investments even though the country of risk for the
ETFs varied by ETF as indicated by their names. We agree that this may have caused some confusion, so we will consider for future
filings for our other funds as applicable (since this fund no longer exists) whether we are able to provide more precise information
regarding the international nature of each fund&rsquo;s holdings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comment
13.&#9;</FONT>For future reports of Virtus Rampart Alternatives Diversifier Fund, please include a general description of the fund&rsquo;s
fund-of-funds structure in Note 1, Organization. <I>See ASC 946-235-50-5.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><U>Response 13.</U>&nbsp;We will add
the requested disclosure to future reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*****</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Consistent with SEC Release 2004-89, the Registrant hereby acknowledges
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the Registrant is responsible for the adequacy and accuracy of the disclosure in its filings;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the Staff&rsquo;s comments or changes to disclosure in response to Staff comments in the filings reviewed by the Staff do not
foreclose the Commission from taking any action with respect to the filings; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the Registrant may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under
the federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As indicated in the SEC&rsquo;s June 24, 2004 release regarding
the public release of comment letters and responses, you are requesting such acknowledgements from all companies whose filings
are being reviewed and thus this request and these acknowledgements should not be construed as suggesting that there is an inquiry
or investigation or other matter involving the Trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If you would like to discuss any of these responses in further
detail or if you have any questions, please feel free to contact me at (860) 263-4790. Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Best regards,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Jennifer Fromm</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jennifer Fromm</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc:&#9;Amy Hackett</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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