UPDATE 1-Fund manager Virtus to pay $16.5 million to settle false-advertising charges
November 16, 2015 at 13:55 PM EST
NEW YORK, Nov 16 (Reuters) - Mutual fund company Virtus Investment Advisers Inc will pay $16.5 million to settle charges it touted false performance claims to boost an investment strategy, the U.S. Securities and Exchange Commission said on Monday.