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Rating:Westwood Prepares to Swallow a $52 Million Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 4, 2009

Westwood Prepares to Swallow a $52 Million Fund

News summary by MFWire's editors

The Philadelphia Fund will soon be no more. The MFWire has learned that the $52.62 million fund's shareholders will vote on November 6 on whether or not to collapse their fund into the $118.68 million WHG LargeCap Value Fund as Westwood Holdings Group buys the asset management business of Philadelphia's advisor, Baxter Financial Corporation. (The AUM figures above are as of market close on August 3.)

Westwood first unveiled the deal on July 23. The Dallas-based firm's WHG Funds boasted $372 million in total AUM on June 30.

The Philadelphia Fund traces its roots back to 1923, when W. Wallace Alexander created the Securities Fund, "an unincorporated investment company" which the Philadelphia Fund later acquired. 

Edited by: Neil Anderson, Managing Editor

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