Westwood Income Opportunity Fund
Data updated: 2022-01-13
C000032334 — Westwood Income Opportunity Fund. Money Market · $890.18M AUM · 0.84% expense ratio. Holdings, fees, performance and SEC filings.
C000032334 Fund Overview
Westwood Income Opportunity Fund is a US mutual fund managed by Advisors' Inner Circle Fund, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advisors' Inner Circle Fund
- Category: Money Market
- Assets under management: $890.18M
- 1-year return: 17.2%
- SEC CIK: 0000878719
- SEC series ID: S000011832
- Share class ID: C000032334
C000032334 Investment Objective and Strategy
Westwood Income Opportunity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors' Inner Circle Fund.
Investment objective
"The primary investment objective of the Westwood Income Opportunity Fund (the ""Fund"") is to provide current income."
Principal investment strategy
"Under normal circumstances, the Fund seeks to meet its investment objectives by investing generally more than 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying and/or interest-bearing securities. By utilizing income-producing securities from diverse asset classes, the Fund also seeks to maintain a lower volatility profile than traditional equity-only products. The Fund aims to invest in securities of companies with a strong and improving cash flow sufficient to support a sustainable or rising income stream for investors. In selecting securities for the Fund, the Adviser chooses among a diversified group of income-producing asset classes. Equity securities may include dividend-paying common stocks, preferred stocks, convertible securities and warrants. Fixed income securities may include bonds and other debt securities, and money market instruments.
Other types of income-producing securities may include interests in royalty trusts and master limited partnerships (""MLPs""), securities of real estate investment trusts (""REITs""), and shares of exchange-traded funds (""ETFs""). The Fund generally invests in securities of domestic companies, but may also invest in securities of foreign companies and American Depositary Receipts (""ADRs""). In the event the Fund invests in foreign securities and ADRs, the Adviser expects that the Fund's investments in such securities would normally represent less than 25% of the Fund's assets. The Fund is permitted to invest in companies of any capitalization range. The Fund's fixed income investments are, in the aggregate, of investment grade (i.e., those rated in one of the three highest rating categories by a rating agency), but may at times include securities rated below investment grade (high yield or ""junk"" bonds).
In addition, the Fund's fixed income securities may include unrated securities, if deemed by the Adviser to be of comparable quality to investment grade. The Fund seeks to provide a higher level of current income than that offered by traditional fixed income products such as U.S. government bonds and money market securities. The Adviser's investment process incorporates relative value analysis among capital instruments, as well as among asset classes, to determine where downside potential can be limited to achieve the goal of generating an attractive level of current income along with capital appreciation. Key metrics for evaluating the risk/return profile of an investment may include strong free cash flow, an improving return on equity, a strengthening balance sheet and, in the case of common equities, positive earnings surprises without a corresponding change in the stock price.
The Adviser has disciplines in place that serve as sell signals, such as a security reaching a predetermined price target, a change to a company's fundamentals that makes the risk/return profile unattractive, or a need to improve the overall risk/return profile of the Fund."
C000032334 Performance
Total returns for C000032334 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 17.2% |
| 3 years (annualised) | 10.6% |
C000032334 Risk Information
Risk metrics for C000032334, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.3%
C000032334 Costs and Fees
C000032334 costs about $84 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.84%
- Gross expense ratio: 0.89%
- Portfolio turnover: 111%
- Brokerage commissions: 6.77 bps of average net assets (SEC N-CEN)
C000032334 Cashflows
Over the 12 months to 2021-10, Westwood Income Opportunity Fund had net inflows of $539.17M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-10 | $23.39M |
| 2021-09 | $38.13M |
| 2021-08 | $49.86M |
| 2021-07 | $32.04M |
| 2021-06 | $29.58M |
| 2021-05 | $23.77M |
C000032334 Debt Constituents
No individual debt constituents are reported in Westwood Income Opportunity Fund's latest SEC N-PORT filing.
C000032334 Prospectus and SEC Filings
Official Westwood Income Opportunity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-02-26
- Prospectus (485BPOS) — filed 2020-03-19
- Prospectus supplement (497) — filed 2021-04-22
- Portfolio holdings (N-PORT) — filed 2021-12-28
- Portfolio holdings (N-PORT) — filed 2021-09-28
- Portfolio holdings (N-PORT) — filed 2021-06-28
- Annual census (N-CEN) — filed 2022-01-13
- Annual census (N-CEN) — filed 2021-01-14
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.