DUBLIN--(BUSINESS WIRE)--
Westwood Holdings Group, Inc. (NYSE:WHG) today announced receipt of
approximately $160 million as the final tranche of initial funding of
Westwood Emerging Markets Fund (the "Fund"), the first sub-fund of
Westwood Investment Funds plc, its Irish-domiciled UCITS umbrella fund,
which was authorised by the Central Bank of Ireland on 18 June 2013.
Patricia Perez-Coutts and her Toronto-based team at Westwood
International Advisors Inc. ("Westwood International") manage the
Westwood Emerging Markets Fund. The UCITS fund provides access for
non-U.S. investors to Westwood International's experienced approach to
uncovering investment opportunities in emerging markets throughout the
world.
"We launched our UCITS fund to respond to demand for our Emerging
Markets strategy from U.K. pension plans of three blue-chip European
companies," said Brian Casey, Westwood's President and CEO. "We are
pleased to have launched this fund with significant scale from the
outset, with initial funding from these three clients exceeding $500
million. Ireland has earned a reputation as a leading domicile for
regulated investment funds and the UCITS structure provides an
attractive pooled fund vehicle for non-U.S. investors. We look forward
to launching additional UCITS funds in the future and expanding our
client offerings beyond our traditional U.S. markets."
The Fund is managed utilizing Westwood International's independent,
company-specific research. The investment process seeks to invest in
sound companies that we believe to be undervalued in the market. Key
characteristics that the team looks for in evaluating investments
include company managements aligned with an Economic Value Added
philosophy, strong businesses with core franchise values, above average
cash flow generation, and consistency of earnings growth.
The Fund is currently available in GBP, Euro, USD and CAD share classes
for institutional investors. The Fund has appointed RBC Investor &
Treasury Services as its custodian and administrator (RBC Investor
Services Bank S.A., Dublin Branch and RBC Investor Services Ireland
Limited, respectively). Copies of the Prospectus and Key Investor
Information Documents are available from Westwood Management Corp.
About Westwood
Westwood Holdings Group, Inc. provides investment management services to
institutional investors, private wealth clients and financial
intermediaries. Westwood manages a range of investment strategies
including U.S., Global and Emerging Markets equities as well as
income-oriented portfolios. Access to these strategies is available
through separate accounts, commingled funds, the Westwood FundsTM
family of U.S. mutual funds and UCITS funds. Westwood has significant,
broad-based employee ownership and trades on the New York Stock Exchange
under the symbol "WHG." Based in Dallas, Westwood also maintains offices
in Omaha and Toronto.
For more information on Westwood, please visit our website at www.westwoodgroup.com.
Forward-looking Statements
Statements in this press release that are not purely historical facts
constitute forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the Securities Exchange Act of 1934, as amended. Actual
results and the timing of some events could differ materially from those
projected in or contemplated by the forward-looking statements due to a
number of factors including, without limitation, our ability to identify
and successfully market services that appeal to our customers; our
ability to successfully develop and market new asset classes; downturns
in the financial markets; competition in the marketplace; and other
risks detailed from time to time in Westwood's Securities and Exchange
Commission filings including but not limited to its annual report on
Form 10-K for the year ended December 31, 2012 and its quarterly reports
on Form 10-Q for the quarters ended March 31, 2013, June 30, 2013 and
September 30, 2013. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this press release. Except as required by law, Westwood is not obligated
to release publicly any revisions to these forward-looking statements to
reflect events or circumstances after the date of this press release or
to reflect the occurrence of unanticipated events.
Shares in the Westwood Emerging Markets Fund are being offered and sold
to certain institutional investors outside the United States in reliance
on Regulation S under the Securities Act. Shares in the fund have not
been registered under the Securities Act or any state securities laws
and may not be offered or sold in the United States absent registration
or applicable exemption from the registration requirements under the
Securities Act and applicable state securities laws. This press release
is neither an offer to sell or a solicitation of an offer to buy shares
in the Westwood Emerging Markets Fund or any other securities and shall
not constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.
DISCLAIMER
Authorisation of the Westwood Emerging Markets Fund by the Central Bank
of Ireland is not an endorsement or guarantee nor is the Central Bank of
Ireland responsible for the contents of the prospectus. Authorisation by
the Central Bank of Ireland shall not constitute a warranty as to the
performance of the Westwood Emerging Markets Fund and the Central Bank
of Ireland shall not be liable for the performance or default of the
Westwood Emerging Markets Fund.
Shares in the Westwood Emerging Markets Fund cannot be offered in any
jurisdiction in which such offer is not authorised or registered.
The investments of the Westwood Emerging Markets Fund are subject to
market fluctuations and the risks inherent in all investments and there
can be no assurance that an investment will retain its value or that
appreciation will occur. The price of shares and the income from shares
can go down as well as up and investors may not realise the value of
their initial investment. Accordingly, an investment in the Westwood
Emerging Markets Fund should be viewed as a medium to long-term
investment.
Prospective investors should consult a stockbroker, bank manager,
solicitor, accountant, financial adviser or professional adviser
accordingly.
This does not constitute, and may not be used for the purposes of, an
offer or an invitation to subscribe for any shares by any person in any
jurisdiction in the Westwood Emerging Markets Fund.
Westwood Holdings Group, Inc.
Martin Coughlan, +1-214-756-6900
mcoughlan@westwoodgroup.com
Source: Westwood Holdings Group, Inc.
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