The Westwood Strategic Global Convertibles strategy:

  • Is actively managed, utilizing both a top-down and bottom-up investment process.
  • Typically invests in 60-90 convertible securities with attractive valuations, with a goal of maintaining a delta range between 30 and 80.
  • Seeks to provide equity-like returns with lower volatility through a disciplined investment process.
  • Looks to achieve 2% excess return above the Thomson Reuters Global Focus Convertible Bond Index on an annualized basis over a full market cycle.
  • Maintains a fully invested portfolio that is diversified among regions and sectors.
  • Controls risk by using a sophisticated convertible analytics system, KYNEX, as well as conducting a formal review on a monthly basis.

Performance

(As of 3/31/2017)

Inception date QTR YTD 1 yr 3 yr 5 yr Since Inception
Strategic Global Convertibles Net of Fees
(2/1/2003)
4.95% 4.95% 6.63% 0.22% 3.93% 5.84%
Thomson Reuters Global Focus Convertible Bond Index   3.83% 3.83% 4.21% -0.29% 3.78% 5.31%
MSCI World Index Net* 6.38% 6.38% 14.77% 5.52% 9.37% 8.57%

Investment Team

The five-person investment team, with an average of 15 years of industry experience, utilizes a team approach to portfolio management. The team also draws upon Westwood’s other investment professionals, including more than 20 fundamental research analysts covering global equity markets.

Portfolio Team

David B. Clott, CFA

Portfolio Manager

Shawn J. Mato, CFA, CAIA

Portfolio Manager

Brendan M. Ryan, CFA

Research Analyst

Seth A. Gold

Trading

Samantha Breen

Operations


Disclosures

*Net of Dividends

 

For purposes of compliance with the GIPS standards, the firm (“Westwood” or the “Firm”) is defined as the assets of Westwood Management Corp. and Westwood International Advisors Inc.  Westwood Management Corp. is an SEC registered investment adviser under the Investment Advisers Act of 1940 that provides investment supervisory services, managing equity and fixed income portfolios.  Westwood International Advisors Inc. is a registered portfolio manager with the Ontario Securities Commission and the Autorité des marchés financiers in Quebec that provides investment supervisory services for global and emerging markets equity portfolios.  Westwood Management Corp. and Westwood International Advisors Inc. are wholly owned subsidiaries of Westwood Holdings Group, Inc. (NYSE: WHG). Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request, as is a complete list and description of the Firm’s composites, by contacting performance@westwoodgroup.com.

 

Westwood Management Corp. claims compliance with the Global Investment Performance Standards (GIPS®).  Unless otherwise stated, performance shown is in U.S. Dollars.

 

The Strategic Global Convertibles Composite is benchmarked against the Thomson Reuters Global Focus Convertible Bond Index and the MSCI World Index.  The Thomson Reuters Global Focus Convertible Bond Index represents the global convertible asset class, targeting larger convertibles. It is balanced across regions and is limited in number of constituents to ensure breadth and manageability. The comparative index returns include reinvestment of income but do not include transaction costs or management fees. The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. Net total return indexes reinvest dividends after the deduction of withholding taxes, using (for international indices) a tax rate applicable to non-resident institutional investors who do not benefit from double taxation treaties.