|
Gabelli Funds, Inc. And Westwood Management Corporation To Form Joint Venture To Manage The Westwood Family Of Funds
For Further Information:
Rye, N.Y. Gabelli Funds, Inc. and Westwood Management Corporation have agreed to form a joint venture to manage the Westwood Family of Funds. Under the terms of the agreement, Gabelli would become the distributor, provide marketing resources and manage the operations of the Funds. Westwood Management Corporation would continue to act as Investment Adviser of the Funds. The Westwood Funds currently consist of three portfolios each with two classes of shares: Equity Fund, Intermediate Bond Fund and Balanced Fund. Mario Gabelli stated "I have known Susan Byrne, president of Westwood Management Corporation for more than twenty years and she is an outstanding investment professional. I look forward to supporting her investment talents through this joint venture." The agreements are subject to approval by the Westwood Funds' shareholders. Westwood Management Corporation is a registered investment adviser founded in 1983 by Ms. Byrne and has offices in Dallas, Texas and New York City, New York. Westwood has a diverse client base spanning the full range of corporate, public, charitable and educational institutions. Westwood is a member of Southwest Securities Group, Inc., a holding company with subsidiaries engaged in a wide variety of investment services. Southwest Securities Group common stock is traded on the NASDAQ National Market System under the Symbol "SWST". Gabelli Funds, Inc. is a registered investment adviser currently managing thirteen investment companies with more than $3.8 billion in assets. |