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Overview of Westwood Holdings Group, Inc. (WHG)
Westwood Holdings Group, Inc. is a diversified asset management boutique that combines investment management and trust services to deliver highly tailored financial solutions. Trading under the symbol WHG on the New York Stock Exchange, the firm serves a wide range of clients including institutional investors, private wealth individuals, and financial intermediaries. With a rich legacy built over decades, Westwood has developed a robust operational framework that positions it as a comprehensive service provider in the asset management space.
Core Business Segments and Investment Solutions
Westwood operates primarily through two integrated segments: the Advisory segment and the Trust segment. The Advisory division is responsible for delivering a spectrum of investment strategies that include U.S. equities, multi-asset, global and emerging markets equities, convertible securities, and master limited partnerships (MLPs). These strategies are accessible via multiple channels such as separate accounts, mutual funds, UCITS funds, and other pooled vehicles, thereby enabling a customized approach to meet diverse investor profiles.
The Trust segment, on the other hand, provides comprehensive trust and custodial services. This division not only supports asset safeguarding through common trust funds tailored for institutions and high-net-worth individuals but also emphasizes a client-centric fiduciary model that underscores the importance of both security and long-term stewardship.
Innovative ETF Platform and Volatility-Managed Strategies
A key highlight of Westwood’s operational ingenuity is its foray into innovative ETF solutions. The firm has strategically partnered with WEBs Investments Inc., a leader in volatility-managed investment strategies, to expand its ETF platform. This collaboration integrates dynamic, rules-based investment approaches aimed at adjusting exposure in real time based on market volatility. Such innovative products are designed to potentially enhance risk-adjusted returns, ensuring that portfolios are resilient in various market conditions. With this initiative, Westwood not only diversifies its array of product offerings but also addresses changing investor demands for sophisticated, volatility-managed tools.
Business Model and Market Positioning
The structural foundation of Westwood is its dual-segment business model that harmonizes active investment management with upscale trust services. The Advisory segment is the primary revenue driver, generating sustainable income through fees associated with managing diversified investment portfolios spanning U.S. equities, multi-asset configurations, and niche market strategies. Meanwhile, the Trust segment complements this by offering custodial and fiduciary services that foster robust, long-term client relationships.
Westwood’s market position is bolstered by its broad-based employee ownership and its strategic geographic footprint. With its headquarters based in Dallas, TX, and additional offices in major financial centers such as Toronto, Boston, Houston, Chicago, and San Francisco, the firm effectively combines local market insight with expansive national operations. This geographical diversity supports its ability to serve both institutional and private wealth clientele across dynamic market environments.
Operational Excellence and Risk Management
Westwood is distinguished by its commitment to operational excellence and rigorous risk management practices. The firm employs advanced tactical asset allocation strategies that allow it to adjust swiftly to market changes and volatility. Its incorporation of dynamic volatility management—especially evident in its ETF strategies—demonstrates an adept use of contemporary financial instruments and risk mitigation techniques. This rigorous approach ensures that client portfolios maintain a balance between growth potential and risk control.
Client-Centric Approach and Strategic Expertise
Central to Westwood’s philosophy is a deep commitment to serving the nuanced needs of its clients. The firm’s bespoke investment solutions are designed to cater to a diverse investor base that spans corporate retirement plans, public pensions, endowments, foundations, and high-net-worth individuals. By providing a customizable array of investment vehicles including separate accounts, mutual funds, and UCITS funds, Westwood affirms its dedication to delivering personalized financial strategies.
Moreover, Westwood’s emphasis on employee ownership fosters a culture where client interests and long-term value creation are paramount. This alignment of internal incentives with client success underscores the firm's trustworthiness and commitment to excellence.
Key Investment Themes and Industry Terminology
- Asset Management Innovation: Westwood leverages cutting-edge techniques such as dynamic volatility management in its ETF offerings.
- Integration of Advisory and Trust Services: The dual-segment strategy enables a comprehensive approach to managing client assets securely.
- Multi-Asset Diversification: A broad spectrum of investment strategies allows for tailored portfolio construction that meets diverse risk preferences.
- Risk-Managed Investment Solutions: The firm’s tactical approach ensures resilience through adaptive asset allocation and comprehensive risk controls.
Overall, Westwood Holdings Group, Inc. presents itself as a multifaceted entity in the asset management industry. Its sophisticated blend of active, outcome-oriented investment management with dedicated trust services, combined with forward-thinking ETF innovations, offers an enduring model tailored to meet the complexities of an evolving financial landscape. The firm’s expertise, operational agility, and deep understanding of market dynamics reinforce its standing as a resilient and comprehensive solution provider.
Westwood Holdings Group (WHG) has announced monthly income distributions for its two ETFs: Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST) and Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI). Both ETFs provide double-digit income from dividends and options premiums. MDST offers a distribution per share of $0.225 with an annualized distribution rate of 9.8%, while WEEI offers the same per share distribution with an annualized rate of 11.4%.
MDST, launched on April 8, 2024, invests in midstream energy companies and has net assets of $57 million. WEEI, launched on April 30, 2024, targets broader energy sector exposure with net assets of $14 million. Performance data as of 9/30/24 shows MDST with a NAV return of 8.18% since inception and an expense ratio of 0.80%. WEEI, however, shows a NAV return of -2.50% since inception and an expense ratio of 0.85%.
Distributions include return of capital, which may lower the ETF’s NAV and trading price over time. Investors should note that past performance is not indicative of future results.
Westwood Holdings Group (WHG) announced monthly income distributions for two ETFs: Westwood Salient Enhanced Midstream Income ETF (MDST) and Westwood Salient Enhanced Energy Income ETF (WEEI). Both ETFs provide monthly income through dividends and options premiums, with current annualized distribution rates of 10.4% for MDST and 12.0% for WEEI. MDST, launched April 8, 2024, focuses on midstream energy companies with $57 million in net assets. WEEI, launched April 30, 2024, offers broad energy sector exposure with $14 million in net assets. As of September 30, 2024, MDST showed positive performance since inception (NAV: 8.18%), while WEEI experienced negative returns (NAV: -2.50%).
Westwood Holdings Group (NYSE: WHG) reported Q3 2024 results with firmwide assets under management reaching $17.7 billion, their highest level in 6 years. Quarterly revenues increased to $23.7 million, up from $22.7 million in Q2 and $21.9 million year-over-year. The company reported comprehensive income of $0.1 million, compared to a loss of $2.2 million in Q2. Non-GAAP Economic Earnings were $1.1 million. The company held $48.3 million in cash and declared a $0.15 per share dividend. WHG announced a partnership with ETF pioneer Ben Fulton to develop new ETF strategies through Westwood Engineered Beta (WEBs).
Westwood Holdings Group (NYSE: WHG) has partnered with ETF veteran Ben Fulton to expand its ETF platform through a new venture called WEBs Investments Inc. (Westwood Engineered Beta). Westwood will invest in WEBs, providing distribution resources and administrative support, with an option to acquire the entity upon reaching growth milestones. Fulton, who grew Invesco's PowerShares ETF platform from $200M to $80B during 2005-2013, brings nearly 30 years of ETF industry experience. The partnership aims to develop innovative ETF strategies, building on Westwood's recent launch of two Energy ETFs in Q2. The WEBs team includes three of Fulton's former colleagues, collectively bringing over 75 years of ETF experience.
Westwood Holdings Group, Inc. (NYSE:WHG) has announced its upcoming third quarter 2024 earnings release and conference call. The company will release its Q3 2024 earnings after the NYSE closes on Wednesday, October 30, 2024. Following this, Westwood will host a live audio webcast and conference call at 4:30 pm Eastern Time (3:30 pm Central Time).
To participate in the conference call, interested parties must register through a provided link to receive a personalized PIN. A webcast link is also available for those who prefer to listen via the internet. Westwood Holdings Group, founded in 1983, is a focused investment management boutique and wealth management firm offering a range of investment solutions to institutional investors, private wealth clients, and financial intermediaries.
Westwood Holdings Group (WHG) announced monthly income distributions for two of its Exchange-Traded Funds (ETFs): Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST) and Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI). Both ETFs are designed to provide high distributable monthly income through a combination of dividend yield and options premiums from covered calls.
Key points:
- MDST's distribution per share: $0.225, with a 10.5% annualized distribution rate
- WEEI's distribution per share: $0.225, with a 12.0% annualized distribution rate
- MDST, launched on April 8, 2024, focuses on midstream energy companies and has $54 million in net assets
- WEEI, launched on April 30, 2024, offers broad exposure to energy companies and has $14 million in net assets
- Both ETFs are actively managed and aim to provide income and potential capital appreciation
Westwood Holdings Group (WHG) has announced monthly income distributions for two of its Exchange-Traded Funds (ETFs): Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST) and Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI). Both ETFs are designed to provide high monthly income through a combination of dividend yield and options premiums from covered calls.
Key points:
- MDST's distribution per share: $0.225, with a 10.5% annualized distribution rate
- WEEI's distribution per share: $0.225, with an 11.5% annualized distribution rate
- MDST has surpassed $50 million in assets under management (AUM)
- MDST focuses on midstream energy companies, while WEEI offers broad exposure to energy companies
- Both ETFs are actively managed and aim to provide income and potential capital appreciation
Westwood Holdings Group (NYSE: WHG) has appointed Chris Doran as Head of ETF Distribution and National Accounts, reporting to Dave Linton, Managing Director and Head of Distribution. This move underscores Westwood's commitment to expanding its ETF platform and product suite. Doran brings 25 years of experience in ETF sales within the financial intermediary channel.
Westwood launched its first ETF, the Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST), in April 2024, followed by the Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI) in May 2024. The company aims to provide innovative investment tools across various strategies, including U.S. Value, Multi-Asset, Real Assets, Alternatives, and Managed Investment Solutions.
CEO Brian O. Casey expressed confidence in Doran's ability to grow Westwood's ETF business and expand the reach of existing mutual funds and separately managed accounts, citing his track record in building high-performing sales teams and developing strategic partnerships.
Westwood Holdings Group (WHG) has announced monthly income distributions for two of its Exchange-Traded Funds (ETFs): Westwood Salient Enhanced Midstream Income ETF (NYSE: MDST) and Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI). Both ETFs are designed to provide high distributable monthly income by combining dividend yield and options premiums from covered calls.
Key points:
- MDST offers a distribution of $0.225 per share with an annualized distribution rate of 10.6%
- WEEI offers a distribution of $0.225 per share with an annualized distribution rate of 11.3%
- MDST, launched on April 9, 2024, focuses on midstream energy companies and has $43 million in net assets
- WEEI, launched on May 1, 2024, provides broad exposure to energy companies and has $13 million in net assets
Westwood Holdings Group, Inc. (NYSE: WHG) reported its Q2 2024 results, highlighting several key developments. The company successfully launched two ETFs: the Westwood Salient Enhanced Midstream Income Fund (NYSE: MDST) and the Westwood Salient Enhanced Energy Income Fund (NASDAQ: WEEI), with net assets of $43 million and $13 million respectively. Quarterly revenues remained flat at $22.7 million compared to Q1, but increased from $21.9 million a year ago. However, the company reported a comprehensive loss of $2.2 million, primarily due to a $3.8 million after-tax charge related to contingent consideration for the 2022 Salient acquisition. Westwood's cash and short-term investments stood at $44.1 million, with no debt. The company declared a cash dividend of $0.15 per common share.
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