Westwood Holdings Group has launched the Westwood Short Duration High Yield Fund (WHGHX), allowing investors to potentially capture high current income by investing principally in non-investment grade debt with expected maturities of three years or less.
The primary goal of the strategy is to generate a high level of current income while also experiencing lower volatility than the broader high yield market. The fund is sub-advised by SKY Harbor Capital Management, LLC, a registered investment adviser, based in Greenwich, CT.
“Today’s market environment of historically low yields and high volatility has been very challenging for investors seeking current income in their portfolios,” says Mark Dunbar, Westwood’s Senior Vice President of Marketing. “The Westwood Short Duration High Yield Fund offers a potential solution for investors who are looking for yield but do not want added volatility.”
Brian Casey, Westwood’s President & CEO, says: “We are very pleased to expand our relationship with the principals of SKY Harbor. We have worked with Hannah Strasser, Anne Yobage and Tom Kelleher for over fourteen years via their management of a traditional high yield fund offered to our private wealth clients. The SKY Harbor team shares our objective of delivering a quality strategy to clients through diverse market environments, and we look forward to growing this product with them.”
The Westwood Short Duration High Yield Fund will be offered in an institutional share class with a total expense ratio capped at 0.90%. Fee waivers are contractual through February 28, 2013. The total annual operating expense would otherwise be 2.07%. The fund may be purchased directly from the fund or through third party mutual fund platforms.