Products January 11, 2011

Barclays Launches Emerging Markets Index

Barclays Capital announced the launch of a new Emerging Markets Tradable Local Currency Bond (EMLOCAL) Index.
Reported by

The EMLOCAL Index is a rules-based tradable subset of the flagship Barclays Capital Emerging Markets Local Currency Government benchmark index, and is composed of debt from up to 16 EM countries. The EMLOCAL Index is rebalanced semi-annually and includes representative and liquid benchmark-eligible bonds from four different regions (Latin America, Eastern Europe, Middle East & Africa, and Asia), with caps and floors by both country and region to ensure diversification across markets.   

According to the announcement, the EMLOCAL Index is the latest addition to the Barclays Capital Emerging Markets (EM) index platform, which includes benchmark bond indexes (hard currency, local currency and inflation-linked indexes), tradable bond indexes, FX indices, equity indexes, and interest rate swaps indexes. 

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Products January 11, 2011

Westwood Closes Mid Cap Fund and Opens Another

Westwood Holdings Group, Inc. has closed the WHG SMidCap Fund (WHGMX) to new investors.
Reported by

The company said the strategy reached its asset capacity; however, the fund will continue to accept additional investments from existing shareholders. Westwood also announced the filing of a registration statement with the SEC for the WHG SMidCap Plus+ Fund, which will be managed by the same investment team as the WHG SMidCap Fund. 

According to the announcement, the new fund will offer investors a strategy that considers small- and mid-cap companies with market capitalizations between $2 billion and $15 billion and will not generally invest in securities with market capitalizations below $2 billion.   

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The WHG SMidCap Plus+ mutual fund will be offered with a total expense ratio capped at 1%. Fee waivers are contractual through February 28, 2013. The total annual operating expense would otherwise be 1.82%.

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