Virtus Investment Partners' net inflows rose by a third last quarter, from $301.7 million in Q4 2009 to $407.2 million in Q1 2010. Yet the Hartford-based mutual fund firm revealed yesterday in its Q1 earnings report that its long-term mutual fund net flows dipped slightly from $351.2 million in Q4 2009 to $334.8 million in Q1 2010 (still a big turnaround from $200.4 million in net long-term mutual fund outflows in Q1 2009). And Virtus' net money market assets dipped $896.4 million in Q1 2010, up from $360.8 million in Q1 2009 and $137.6 million in Q4 2009.

Virtus' net income swung positive last quarter. After a net loss of $1.18 per diluted share in Q1 2009 and $0.09 in Q4 2009, Virtus earned $0.03 in net income per diluted share in Q1 2010. 

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