Alternative Income Fund

Alternative Income Fund

Strategy Description
The Westwood Alternative Income Fund aims to generate absolute returns through a combination of current income and capital appreciation with low correlation to equity and fixed income markets.

Fund Overview

  • Multi-strategy approach utilizes short duration high yield, convertible arbitrage and macro allocation to limit exposure to interest rates and other macroeconomic factors with low duration and a low risk profile.
  • Integrates a levered global convertible arbitrage strategy to potentially take advantage of market dislocations including earnings catalysts, credit ratings and mergers.
  • Seeks to enhance portfolio construction and reduce volatility risk through the active use of macro hedging strategies.
  • Potential for uncorrelated returns and attractive diversification benefits with traditional fixed income allocations and equity.
  • Incorporates Westwood Sensible Fees™ which attempts to achieve better alignment of fees and performance for investors.
Share Class*
Institutional
Ticker Symbol
WMNIX
CUSIP
90386K704
Inception Date
May 1, 2015
Net** / Gross Expense Ratio
0.96% / 1.21%
Distribution Frequency
Quarterly
Total Holdings (as of 3/31/22)
123
SEC 30-Day Yield*** (as of 3/31/22) subsidized / unsubsidized
1.90% / 1.76%
Benchmark
FTSE 1 Month Treasury
Related Materials

**The Adviser has contractually agreed to reduce fees and reimburse expenses until March 1, 2024.

***The subsidized SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced.


*For additional information for other share classes, click Related Materials.

**The advisor has contractually agreed to reduce fees and reimburse expenses until March 1, 2024.

Daily NAV
$10.43
Daily Change
0.03
Daily % Change
0.288%

Growth of a $10,000 Investment

Value as of xx/xx/xx
 

Assumes an initial investment of $10,000 was made on the fund's inception date of 05/01/2015. The growth of a $10,000 investment in the fund is hypothetical and for illustration only. It does not represent any actual investment.

Annualized Fund Performance
as of 03/31/2022

Trailing Year Performance YTD* 1-Yr
Trailing
3-Yrs
Trailing
5-Yrs
Trailing
10-Yrs
Trailing
Since
Inception
Alternative Income Fund Net of Fees -1.35% -0.35% 4.77% 3.37% --- 3.39%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. The Fund charges a redemption fee of 1.00% as a percentage of shares redeemed that have been held less than 30 days. Investment performance does not reflect the redemption fee; if it was reflected, the total return would be lower than shown. For performance data current to the most recent month end, please call 877.FUND.WHG. *YTD figure is calculated as of the most recent month end.

Westwood Alternative Income Fund | Sensible Fees™ Illustration

*The Adviser has contractually agreed to reduce fees and reimburse expenses until March 1, 2024.

The Base Fee is an annual rate of 0.53%. The Index Hurdle is the FTSE 1-Month U.S. Treasury Bill Index plus 2.00%. The Performance Adjustment is calculated according to a schedule that adds or subtracts 0.0016% of the Institutional Shares’ average daily net assets for each 0.01% by which the performance of the Institutional Shares exceeds or lags the performance of the Index Hurdle over the Performance Period. The maximum Performance Adjustment (positive or negative) will not exceed an annual rate of +/- 0.32% of the Institutional Shares’ average daily net assets during the Performance Period, which would occur when the performance of the Institutional Shares exceeds, or is exceeded by, the performance of the Index Hurdle by 2.00% over the Performance Period. Accordingly, the management fee will range from a minimum annual rate of 0.21% to a maximum annual rate of 0.85%.

Potential Investor Benefits

Absolute Return Target

Aims to achieve an attractive return (net of fees) annualized over a full market cycle.

Potential for Lower Volatility

A portfolio designed to have low volatility relative to equity and fixed income markets.

Potential Uncorrelated Returns

Potential for uncorrelated returns and attractive diversification benefits with traditional equity and fixed income allocations.

Lower Fees

Utilizes Sensible Fees to change the probability of achieving better absolute net returns for active investors.

Alternative Income Fund Portfolio Managers

Adrian Helfert
Senior Vice President, Chief Investment Officer, Multi-Asset
Chris Hartman
Vice President, Portfolio Manager