<SEC-DOCUMENT>0001145549-20-060840.txt : 20201022
<SEC-HEADER>0001145549-20-060840.hdr.sgml : 20201022
<ACCEPTANCE-DATETIME>20201022074901
ACCESSION NUMBER:		0001145549-20-060840
CONFORMED SUBMISSION TYPE:	N-CEN/A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20191130
FILED AS OF DATE:		20201022
DATE AS OF CHANGE:		20201022
EFFECTIVENESS DATE:		20201022

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Virtus Total Return Fund Inc.
		CENTRAL INDEX KEY:			0000836412
		IRS NUMBER:				133474242
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CEN/A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05620
		FILM NUMBER:		201251687

	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 INC.
		DATE OF NAME CHANGE:	20160929

	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
</SEC-HEADER>
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            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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          <custodian>
            <custodianName>HSBC Bank Australia Limited</custodianName>
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            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB, Copenhagen Branch</custodianName>
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            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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            <custodianName>National Bank of Belgium</custodianName>
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            <isCustodianAffiliated>N</isCustodianAffiliated>
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            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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          <custodian>
            <custodianName>HSBC NOMINEES (NEW ZEALAND) LIMITED</custodianName>
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            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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          <custodian>
            <custodianName>The Bank of New York Mellon SA/NV, Asset Servicing, Niederlassung Frankfurt am Main</custodianName>
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<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>virtustotalreturn.htm
<TEXT>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;font-size:10pt;text-align:justify;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:'Georgia';text-align:center; font-weight:bold;font-size:10pt;font-family:'Georgia';font-style:normal;text-transform:none;font-variant: normal;"><a name="_heading=h.gjdgxs"></a>Report of Independent Registered Public Accounting Firm&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;font-size:10pt;text-align:justify;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;text-align:justify; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To the Board of Directors and Shareholders of Virtus Total Return Fund Inc.&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;text-align:justify;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_heading=h.30j0zll"></a>In planning and performing our audits of the financial statements of Virtus Total Return Fund Inc. (the &#8220;Fund&#8221;), as of and for the periods ended November 30, 2019, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (&#8220;PCAOB&#8221;), we considered the Fund&#8217;s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund&#8217;s internal control over financial reporting.&#160;&#160;Accordingly, we do not express an opinion on the effectiveness of the Fund&#8217;s internal control over financial reporting.&#160;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting.&#160;&#160;In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.&#160;&#160;A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.&#160;&#160;A company&#8217;s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with<font style="font-size:12pt;"> </font>generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company&#8217;s assets that could have a material effect on the financial statements.&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:'Georgia'; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.&#160;&#160;Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:'Georgia'; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis.&#160;&#160;A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company&#8217;s annual or interim financial statements will not be prevented or detected on a timely basis.&#160;&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our consideration of the Fund&#8217;s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB.&#160;&#160;However, we noted no deficiencies<font style="font-weight:bold;"> </font>in the Fund&#8217;s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness<font style="font-weight:bold;"> </font>as defined above as of November 30, 2019.&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="page-break-before:always;"></p><p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This report is intended solely for the information and use of the Board of Directors of Virtus Total Return Fund Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:'Georgia'; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/PricewaterhouseCoopers LLP&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:'Georgia'; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Philadelphia, Pennsylvania&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%; font-size:10pt;font-family:'Georgia';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_heading=h.1fob9te"></a>January 21, 2020&#160;</p>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Notification of the reorganization of Virtus Total Return Fund Inc. (ZF) and Virtus Global Dividend&nbsp;&amp;
Income Fund Inc. (ZTR) </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective Monday November&nbsp;18, 2019, the Virtus Total Return Fund Inc. (ZF)(CIK #0000812090) merged into Virtus Global
Dividend&nbsp;&amp; Income Fund Inc. (ZTR) (CIK #0000000836412). Also, effective on Monday November&nbsp;18, 2019, Virtus Global Dividend&nbsp;&amp; Income Fund Inc. (ZTR) changed its name to the Virtus Total Return Fund Inc. The legal survivor of
the reorganization was ZTR while the accounting survivor was ZF. Therefore, the performance history of ZF will carryforward post-merger. Financial information within the November <FONT STYLE="white-space:nowrap">N-CEN</FONT> for ZTR reflects that of
the accounting survivor, as necessary. Therefore, financial information within the ZF CIK#0000812090 was left blank within the filing so not to duplicate. </P>
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