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 authorized 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”) provide investment advice to 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.