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Friday, November 19, 2010

Acquisition Expands Westwood's Mutual Fund Roster

Reported by Armie Margaret Lee

Westwood Holdings Group has wrapped up its purchase of McCarthy Group Advisors, a deal that increased the number of Westwood's mutual funds to six.

Omaha, Nebraska-based McCarthy is the investment adviser to the $64.5 million McCarthy Multi-Cap Stock Fund. McCarthy also managed more than $1.1 billion in private wealth and institutional client assets as of end-September.

The McCarthy fund joins five mutual funds offered by Westwood under the WHG banner.

In November last year, Westwood took over the Philadelphia Fund and reorganized it into the WHG LargeCap Value Fund.
Company Press Release

Westwood Holdings Group, Inc. Completes Acquisition of McCarthy Group Advisors

DALLAS-- Westwood Holdings Group, Inc. (NYSE: WHG) announced the completion of the acquisition of McCarthy Group Advisors, LLC (MGA).

MGA is a registered investment advisor based in Omaha, Nebraska. MGA managed over $1.1 billion in private wealth and institutional client assets as of September 30, 2010, and serves as the advisor to the McCarthy Multi-Cap Stock Fund (MGAMX), a no-load mutual fund. It is expected that MGA will operate as an Omaha branch of Westwood Trust, a wholly-owned subsidiary of Westwood. Westwood had total assets under management of $10.6 billion, including $1.9 billion under management at Westwood Trust, as of September 30, 2010.

About Westwood

Westwood Holdings Group, Inc. manages investment assets and provides services for its clients through two subsidiaries, Westwood Management Corp. and Westwood Trust. Westwood Management Corp. is a registered investment advisor and provides investment advisory services to corporate pension funds, public retirement plans, endowments, foundations, the WHG Funds, other mutual funds and clients of Westwood Trust. Westwood Trust provides trust services and participation in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Holdings Group, Inc. trades on the New York Stock Exchange under the symbol "WHG."
 

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