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Westwood Alternative Income Fund Institutional Shares WMNIX

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Strategy

The investment seeks to provide absolute returns through a combination of current income and capital appreciation with low correlation to equity and fixed income markets. The fund employs an absolute return strategy, which means that it seeks to earn a positive total return through a combination of current income and capital appreciation in all market conditions, by maintaining a portfolio that is designed to have low volatility and low correlations with equity and fixed income markets over a full market cycle. The fund invests primarily in income producing convertible securities.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
WMNIX	Westwood Alternative Income Fund Institutional Shares	Institutional	Open	—	—	May 1, 2015	$140.49M	0.900%	Low	$100,000	$51.45M
WMNUX	Westwood Alternative Income Fund Ultra Shares	Institutional	Open	—	—	May 1, 2015	$55.47M	0.760%	Low	$1M	$3.18M
WMNAX	Westwood Alternative Income Fund A Class Shares	Front Load	Open	—	—	Mar 31, 2020	$746,216.00	1.010%	Low	$1,000	−$113,904.34

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