Engemann Asset Management administers about 15 different composite funds, including broker-sponsored wrap accounts, for private clients and institutional investors. It also manages stock portfolios. Utilizing a range of investment styles, the company mainly invests in growth equities, with some funds tempered by fixed-income investments. Retail clients must have a minimum of $50,000 in order to invest in the firm's wrap accounts. Founded in 1969, Engemann Asset Management is a wholly owned subsidiary of Virtus Investment Partners (formerly Phoenix Investment Partners), which was spun off from publicly traded insurance and investment company The Phoenix Companies in late 2008.