Peter Batchelar
About Peter Batchelar
Peter J. Batchelar (YOB: 1970) serves as Senior Vice President of Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) and related Virtus closed-end funds (since 2021 for AIO/NCV/NCZ/ACV/NFJ/NIE; since 2022 for EDF), while holding the corporate role of Senior Vice President, Product Development at Virtus Investment Partners (since 2017; various fund officer roles since 2008) . He is listed at age 55 in third-party director/officer directories for Virtus funds . Professional credentials include longstanding registration with VP Distributors LLC (FINRA Series 7, 24, 3, 6, 63) and current status as a General Securities Principal and Representative . For context on fund performance during his tenure, AIO reported a six-month NAV total return of 8.84% and market price return of 19.11% for the period ended July 31, 2024 (manager commentary), though fund returns are driven by the adviser/subadviser teams rather than fund officers .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Virtus Investment Partners | SVP, Product Management / Product Development | 2004–Present | Leads product development and alternatives; officer roles across multiple Virtus funds |
| John A. Levin & Co. | Director, Advisor Directed Sales | 2001–2004 | Distribution/sales leadership for advisor-directed strategies |
| Credit Suisse Asset Management | AVP, Institutional Marketing | 2000–2001 | Institutional marketing for asset management products |
| Mellon Capital Management | Portfolio Manager, GTAA | 1998–2000 | Managed global tactical asset allocation mandates |
External Roles
| Organization | Role | Years | Relevance |
|---|---|---|---|
| VP Distributors LLC (Virtus affiliate) | Registered Rep; General Securities Principal | 2007–Present (S7 2003; S24 2022; S3 2020; S6 1997; S63 2004) | Licensing and distribution oversight for Virtus-sponsored funds |
Fixed Compensation
| Component | Detail |
|---|---|
| Fund-paid officer compensation | Officers of the Virtus closed-end funds “receive no compensation from the Funds,” as they are compensated by Virtus or its administrator in those capacities . |
| Base salary, target bonus, actual bonus (Fund disclosures) | Not disclosed in AIO fund filings; officer compensation resides at Virtus Investment Partners and is not reported at the fund level . |
| Cash vs. equity mix (Fund disclosures) | Not disclosed at the fund level; officers are company employees of Virtus and not paid by AIO . |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Incentive metrics tied to AIO | Not disclosed (fund officer comp not set or paid by the Fund) . | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership in AIO (individual) | Not disclosed for Batchelar individually in AIO’s 2025 proxy excerpts reviewed; proxies commonly present group ownership levels but officer-level holdings are often de minimis and not emphasized for fund officers . |
| Section 16 filings (Forms 3/4/5) | Funds state they review Section 16(a) compliance; based on copies/representations, required ownership reports were filed during the most recent fiscal year in prior joint proxy materials . |
| Pledging/hedging | No pledging/hedging disclosures were identified for Batchelar in fund proxies reviewed . |
| Ownership guidelines | No officer stock ownership guidelines disclosed at the fund level; officers are Virtus employees (not paid by the Fund) . |
Employment Terms
| Term | Detail |
|---|---|
| Fund officer roles and tenure | Senior Vice President of AIO, NCV, NCZ, ACV, NFJ, NIE since 2021; Senior Vice President of EDF since 2022 . |
| Employer | Virtus Investment Partners (Senior Vice President, Product Development since 2017; prior Vice President; various fund officer roles since 2008) . |
| Contract term, non-compete, severance, change-in-control | Not disclosed in fund filings; these would reside in corporate (Virtus Investment Partners) employment documents, not the Fund proxy . |
Performance & Track Record (context)
| Measure | Period | Result |
|---|---|---|
| AIO NAV total return | Six months ended July 31, 2024 | 8.84% |
| AIO market price total return | Six months ended July 31, 2024 | 19.11% |
| Role context | — | AIO portfolios are managed by subadvisers (e.g., Voya IM), and performance is driven by portfolio teams; fund officers (including Batchelar) provide product/governance oversight rather than security selection . |
Expertise & Qualifications
- Education: MBA (Lehigh University College of Business); BS Finance (University of Connecticut) .
- Licensing: Series 24 (General Securities Principal, 2022), Series 7 (2003), Series 3 (2020), Series 6 (1997), Series 63 (2004); Registered Rep at VP Distributors LLC since 2007 .
- Core credentials: Senior leadership in product development across Virtus fund families; officer roles across multiple registered funds .
Risk Indicators & Governance Notes
- Section 16(a) compliance: Prior joint proxy statements report required Forms 3/4/5 were filed (based on fund review of copies/representations) .
- Officer compensation: Explicitly not paid by the Fund, reducing potential misalignment between fund-level outcomes and officer pay plans (comp resides at Virtus) .
- No disclosed red flags (pledging/hedging, legal actions) identified for Batchelar in fund proxies reviewed .
Investment Implications
- Compensation alignment: Because fund officers are not compensated by AIO and no fund-level incentive metrics are disclosed, there is limited visibility into pay-for-performance alignment at the fund level for this role. Portfolio outcomes are tied to the adviser/subadviser teams (e.g., Voya IM), not to fund officers’ variable pay .
- Insider trading/ownership signal: Fund proxies emphasize Section 16 compliance but do not highlight officer ownership or pledging; the absence of disclosed ownership data for Batchelar suggests minimal insider selling pressure as a signal at the AIO level .
- Retention risk: Long tenure at Virtus in senior product roles (since 2004) and current officer roles across multiple funds indicate continuity and low near-term retention risk; responsibilities are managerial/product-focused rather than portfolio-management-specific .
- Monitoring focus: Track AIO performance drivers (subadviser commentary, leverage and distribution policy) in fund reports, and watch for any Section 16 filings or proxy disclosures that would update ownership or governance items .