Advisors’ Inner Circle details two new funds investing in convertibles

By Toni Weeks

San Luis Obispo, Calif., April 21 – The Advisors’ Inner Circle Fund gave details about two new funds targeting convertible securities, according to an N-1A filing with the Securities.

David Clott and Shawn Mato are the portfolio managers for both funds.

The Westwood Strategic Global Convertibles Fund (Symbol: WSGCX) seeks total return through a combination of capital appreciation and current income. Under normal circumstances, it invests at least 80% of its net assets in convertible securities and at least 40% of its net assets in companies organized or located or doing a substantial amount of business outside the United States, in both developed and emerging markets. The fund will generally invest in at least three different countries and have exposure to the United States, Europe and Asia.

Shareholder fees include a 1% redemption fee on shares held less than 30 days. Including a management fee of 0.75%, and taking into account the effects of a fee reduction and/or expense reimbursement with the investment adviser, total annual fund operating expenses are expected to be 0.85%.

The Westwood Market Neutral Income Fund (Symbol: WMNIX) seeks to generate positive total returns in all market conditions through a combination of current income and capital appreciation by maintaining a portfolio that is designed to have low volatility and low correlations with the general stock and bond markets. The fund invests primarily in income-producing convertible securities and may invest in foreign companies in both developed and emerging markets, providing exposure generally to the United States, Europe and Asia.

As in the previous fund, shareholder fees include a 1% redemption fee on shares held less than 30 days. Including a management fee of 0.85%, and taking into account the effects of a fee reduction and/or expense reimbursement with the investment adviser, total annual fund operating expenses are expected to be 1.34%.

Dallas-based Westwood Management Corp. is the investment adviser to the funds.

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