MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 4, 2009 Westwood Prepares to Swallow a $52 Million Fund 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. Printed from: MFWire.com/story.asp?s=22525 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |