Westwood Market Neutral Income Fund

Data updated: 2022-01-13

C000154540 — Westwood Market Neutral Income Fund. Money Market · $182.58M AUM · 0.99% expense ratio. Holdings, fees, performance and SEC filings.

C000154540 Fund Overview

Westwood Market Neutral Income 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: $182.58M
1-year return: 6.4%
SEC CIK: 0000878719
SEC series ID: S000049017
Share class ID: C000154540

C000154540 Investment Objective and Strategy

Westwood Market Neutral Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors' Inner Circle Fund.

Investment objective

"The investment objective of the Westwood Market Neutral Income Fund (the ""Fund"") is to seek to generate positive total returns in all market conditions through a combination of current income and capital appreciation."

Principal investment strategy

"The Fund employs a market neutral investment strategy, which means that the Fund seeks to earn a positive return in all market conditions, by maintaining a portfolio that is designed to have low volatility and low correlations with the general stock and bond markets. In seeking to achieve its goals, the Fund invests primarily in income producing convertible securities. Convertible securities include, but are not limited to, corporate bonds, debentures, notes or preferred stocks and their hybrids that can be converted into (exchanged for) common stock or other securities, such as warrants or options, which provide an opportunity for equity participation. The Fund may also invest in equity securities and non-convertible fixed income securities, and may invest in securities of any market capitalization, maturity, duration or credit quality, including securities rated below investment grade or, if unrated, deemed by the Adviser to be of comparable quality (""junk bonds"").

The Fund may invest in foreign companies in both developed and emerging markets, and will generally have exposure to the United States, Europe and Asia. The Fund seeks to exploit certain arbitrage opportunities by, for example, selling common stocks or bonds short against positions in which the Fund has invested in convertible securities, or establishing short positions in convertible securities with long positions in the corresponding common stock or bond. When the Fund sells a security short, it is selling a security it does not own. The Fund may invest in derivative instruments, such as futures contracts, forward contracts, options and swaps (including credit default swaps) to seek to hedge risks such as issuer, equity market, credit, interest rate and foreign currency risks, or enhance the returns of the Fund.

The Fund may also seek to generate income from option premiums by writing (selling) call and put options on individual securities, broad-based securities indexes or exchange-traded funds (""ETFs""). The Adviser seeks to identify undervalued convertible securities by utilizing quantitative tools and fundamental research to assess a security's income characteristics, liquidity, credit quality, volatility and equity value. The Adviser seeks to invest in companies with strong business models, quality management, and favorable financial conditions. The Adviser will consider selling a convertible security when it believes that the security is no longer undervalued, or there are unfavorable changes in the fundamentals of the underlying company or the structure of the convertible security. The Fund may buy and sell securities frequently, which could result in a high portfolio turnover rate.

When the Adviser believes that market conditions are unfavorable for profitable investing, or is otherwise unable to locate attractive investment opportunities, it may increase the Fund's investments in cash or money market instruments to protect the Fund's assets and maintain liquidity. When the Fund's investments in cash or money market instruments increase, it may not participate in market advances or declines to the same extent that it would if the Fund remained more fully invested in equity and fixed income securities."

C000154540 Performance

Total returns for C000154540 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	6.4%
3 years (annualised)	6.2%

C000154540 Risk Information

Risk metrics for C000154540, derived from monthly returns in SEC filings.

1-year volatility (annualised): 2.6%

C000154540 Costs and Fees

C000154540 costs about $99 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.99%
Gross expense ratio: 1.40%
Portfolio turnover: 137%
Brokerage commissions: 0.24 bps of average net assets (SEC N-CEN)

C000154540 Cashflows

Over the 12 months to 2021-10, Westwood Market Neutral Income Fund had net inflows of $155.57M, from monthly SEC N-PORT filings.

Month	Net flow
2021-10	$13.02M
2021-09	$22.60M
2021-08	$8.48M
2021-07	$12.02M
2021-06	$12.24M
2021-05	$9.87M

C000154540 Debt Constituents

No individual debt constituents are reported in Westwood Market Neutral Income Fund's latest SEC N-PORT filing.

C000154540 Prospectus and SEC Filings

Official Westwood Market Neutral Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

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.