LONDON--(BUSINESS WIRE)--Aviva Investors, the global asset management business of Aviva plc, and Westwood Holdings Group, Inc. (NYSE:WHG), a U.S.-based global asset manager, today announced that they intend to enter into an agreement for Westwood to sub-advise the Aviva Investors Global Convertibles Absolute Return Fund. David Clott and Shawn Mato, previously the lead portfolio managers of the fund, will join Westwood to be the lead portfolio managers on Westwood’s new Global Convertible Securities Team. Justin Craib-Cox remains at Aviva Investors and continues to manage the long-only strategy through the Aviva Investors Global Convertibles Fund.
Euan Munro, Chief Executive Officer of Aviva Investors, commented: “We believe our absolute return convertibles investors will be best served by this new arrangement, as we strengthen our focus on scalable products and core building blocks that can feed into our new outcome-oriented multi strategy fund range. With David Clott and Shawn Mato continuing to advise the absolute return strategy at Westwood and Justin Craib-Cox managing our long-only strategy, our clients will be able to maintain seamless access to our Global convertibles offering.”
Brian O. Casey, President and Chief Executive Officer of Westwood, said: “We are thrilled to have this impressive team with an established track record of long-term outperformance joining Westwood. The team’s strategies represent a natural fit with Westwood’s current suite of investment solutions.We appreciate the opportunity to sub-advise the Aviva Investors Global Convertibles Absolute Return Fund. The addition of the Global Convertible Securities Team will be the latest in a series of strategic additions that we have made to ensure that we can continue to offer our clients the solutions that they desire.”
David Clott, CFA, Senior Vice President and Senior Portfolio Manager – David will lead Westwood’s Global Convertible Securities Team. For the past 15 years, David has co-managed both the long only and absolute return global convertible securities strategies at Aviva Investors and co-founded their convertibles funds in April 2002. David earned a BSc in Business Administration and Finance from Bryant University and is a member of the CFA Institute and the Boston Security Analysts Society.
Shawn Mato, CFA, Senior Vice President and Senior Portfolio Manager – Shawn will be a portfolio manager on Westwood’s Global Convertible Securities Team. Shawn has co-managed both the long only and absolute return global convertible securities strategies at Aviva Investors for the past 13 years. Shawn has a BSc in Business and Finance from the University of New Hampshire and an MBA in Finance with Honours from Fordham University. He is a member of the CFA Institute and the Boston Security Analysts Society.
Clott and Mato have worked together for over 10 years. The Aviva Investors Global Convertibles Absolute Return Fund has over US$500 million in assets *.
*As at 30 June 2014
About Aviva Investors
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £234 billion as at 30 June 2014.
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 Specialty portfolios. Access to these strategies is available through separate accounts, commingled funds, the Westwood Funds® family of mutual funds and UCITS funds. Westwood benefits from significant, broad-based employee ownership and trades on the New York Stock Exchange under the symbol “WHG.” Based in Dallas, TX, Westwood also maintains offices in Omaha, NE and Toronto, Canada.
For more information on Westwood, please visit www.westwoodgroup.com.
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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, 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; the significant concentration of our revenues among a few customers; our relationships with investment consulting firms; our relationships with current and potential customers; our ability to retain qualified personnel; our ability to successfully develop and market new asset classes; our ability to maintain our fee structure in light of competitive fee pressures; competition in the marketplace; downturns in the financial markets; new legislation adversely affecting the financial services industries; interest rates; changes in our effective tax rate; our ability to maintain an effective system of internal controls; and the other risks detailed from time to time in Westwood’s SEC filings, including, but not limited to, its annual report on Form 10-K for the year ended December 31, 2013 and its quarterly report on Form 10-Q for the quarters ended March 31, 2014 and June 30, 2014. 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 publicly release 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.