HARTFORD, Conn., Nov. 6, 2012 /PRNewswire/ -- Newfleet Asset Management, LLC, one of the boutique asset management firms that comprise Virtus Investment Partners, Inc., today announced that David L. Albrycht, CFA has been named president and chief investment officer. Albrycht had served as the company's chief investment officer, Multi-Sector Strategies, since June 2011. In this new role, Albrycht will oversee all of Newfleet's portfolio management capabilities, including its multi-sector, enhanced core, and core strategies that are available in mutual funds, variable insurance funds, institutional accounts, and structured products. Albrycht continues to report to George R. Aylward, president and chief executive officer, Virtus Investment Partners. "Dave's new role is an acknowledgment of his exceptional leadership in developing Newfleet as a comprehensive fixed-income asset management firm and overseeing a team that has achieved strong relative long-term performance across multiple strategies," Aylward said. "In just a little more than a year, Newfleet's assets under management have more than doubled to $10 billion, and Dave has expanded his team of high-caliber investment professionals, allowing him to maintain his primary focus of overseeing the company's continued growth while delivering strong investment performance for the Newfleet portfolios." Albrycht joined Virtus in 2011 when it established Newfleet as a comprehensive fixed income investment manager by merging the Multi-Sector Strategies team with other existing fixed income capabilities. In addition to managing Virtus' largest open-end mutual fund, the Virtus Multi-Sector Short Term Bond Fund (Class A: NARAX), he also manages or co-manages other Virtus open- and closed-end funds including: the Virtus Multi-Sector Fixed Income Fund (Class A: NAMFX), the Virtus Senior Floating Rate Fund (Class A: PSFRX), the Virtus Tactical Allocation Fund (Class A: NAINX), the Virtus High Yield Fund (Class A: PHCHX), the Virtus Bond Fund (Class A: SAVAX), the Virtus Balanced Fund (Class A: PHBLX), the Virtus Low Duration Income Fund (Class A: HIMZX), the Virtus Total Return Fund (NYSE: DCA) and the Virtus Global Multi-Sector Income Fund (NYSE: VGI). Prior to joining Newfleet, Albrycht was executive managing director and senior portfolio manager at Goodwin Capital Advisers, a former Virtus investment management subsidiary. He joined Goodwin in 1985 as a credit analyst, and began managing fixed income portfolios in 1991. He assumed the primary responsibility for the Multi-Sector Short Term Bond Fund in 1993, and has directed the fund's significant long-term performance and growth. In 1994 Albrycht added management of the Multi-Sector Fixed Income Fund and has since applied the multi-sector investment process to additional mutual fund portfolios, and then further expanded to include sector-specific funds such as senior floating rate and high yield loans. He also co-manages two Virtus closed-end funds.