WGI was founded in 2003 and is independently owned by its founding Principals: Meg
Reynolds and Bryan Ward. As of December 31, 2019, WGI managed $11,100,000,000 of
assets on a discretionary basis.
WGI is an international investment manager, investing in both developed and emerging
markets equities. WGI also engages in foreign exchange (“FX”) transactions to facilitate the
settlement of equity trades and repatriation of income. We offer both separately managed
and commingled accounts. Accounts may have different strategies, client restrictions
and/or varying benchmarks but are all managed with a similar investment process. While
WGI’s Fund documents and investment guidelines allow for investments besides equity
and FX transactions, WGI's strategies focus on investing in equities across all our portfolios.
WGI is the manager and advisor to the WGI Emerging Markets Fund, LLC, WGI Emerging
Markets Smaller Companies Fund, LLC and the WGI Developed Markets Ex-U.S. Fund, LLC.
WGI is also the advisor to WGI Emerging Markets Feeder, Ltd (”Feeder”), a Cayman Islands
company incorporated in December 2009 which is a feeder fund for the WGI Emerging
Markets Fund, LLC. Collectively, these four funds are referred to as the “Funds”. The Funds
are open-ended private investment funds. As advisor to the Funds, WGI has exclusive
investment authority and is responsible for the management, operation, and policy of the
Funds. The Funds are operated to comply with the exemption from registration as an
investment company under Section 3(c)(7) of the Investment Company Act of 1940, as
amended, and the rules and regulations promulgated thereunder. The Funds have adopted
the same investment process that WGI applies with respect to managed institutional
accounts, subject to the strategy and any variations that may arise on account of legal or
regulatory constraints, investment objectives, benchmarks, taxation, liquidity,
diversification, the amount of funds each has available for such investment, and other
factors affecting the Funds or the managed institutional accounts.
WGI is also a sub-advisor to the Northern Trust’s Active M Emerging Equity Fund, which is
listed under ticker NMMEX.
The Directors of the Feeder are Meg Reynolds and Bryan Ward, who are responsible for the
overall investment policies of the Feeder and are also principals of WGI. The Feeder was
formed primarily to provide a pooled investment vehicle through which WGI could more
efficiently permit offshore and tax-exempt investors participation in WGI Emerging
Markets Fund, LLC. The Directors and WGI intend that the Feeder will invest substantially
all of its investable assets in membership interests of the WGI Emerging Markets Fund, LLC.
ITEM 5 – FEES AND COMPENSATION
All fees are subject to negotiation.
The standard management fee schedule for Emerging Markets separate accounts is as follows:
Assets under $50,000,000.00 1.15%
Assets between $50,000,000.00 - $100,000,000.00 0.85 of 1% (.0085)
Assets over $100,000,000.00 0.75 of 1% (.0075)
The standard management fee schedule for Developed Markets Ex-U.S. separate accounts is
as follows:
Assets under $50,000,000.00 0.95 of 1% (.0095)
Assets between $50,000,000.00 - $100,000,000.00 0.75 of 1% (.0075)
Assets between $100,000,000.00 - $250,000,000.00 0.65 of 1% (.0065)
Assets over $250,000,000.00 0.55 of 1% (.0055)
Assets over $500,000,000.00 0.45 of 1% (.0045)
The standard management fee schedule for assets in WGI’s commingled accounts
is as follows:
WGI Emerging Markets Fund 1.15%
WGI Emerging Markets Feeder 1.15%
WGI Emerging Markets Smaller Companies Fund 1.20%
WGI Developed Markets Ex-U.S. Fund Capital Account Balance Annual Fee %
Up to $25,000,000.00 .95 of 1.00% (.0095)
Next $25,000,000.00 -
$50,000,000.00
.85 of 1.00% (.0085)
Next $50,000,000.00 -
$100,000,000.00
.75 of 1.00% (.0075)
Next $100,000,000.00
- $250,000,000.00
.70 of 1.00% (.0070)
$250,000,000.00 and
above
.60 of 1.00% (.0060)
ITEM 5 – FEES AND COMPENSATION
The specific manner in which fees are charged by WGI is established in a client’s written
agreement with WGI. For separate accounts, WGI will generally bill its fees on a quarterly
basis in arrears. Clients are billed directly for fees and may elect to pay Westwood directly
or authorize their custodian to directly debit fees from client accounts. Management fees
shall be prorated for each capital contribution and withdrawal made during the applicable
calendar quarter. Accounts initiated or terminated during a calendar quarter will be
charged a prorated fee. For commingled accounts, manager’s fees are charged monthly
based on the participants’ month-end value and withdrawn from their accounts as a
redemption of units. Unless otherwise notified, the management fees are charged on the
participants’ month-end balance prior to contributions and redemptions.
WGI’s fees are exclusive of brokerage commissions, transaction fees, and other related
costs and expenses which are paid by the client. Clients may incur certain charges
imposed by custodians, brokers, third party investment and other third parties such as fees
charged by managers, custodial fees, deferred sales charges, odd-lot differentials, transfer
taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
accounts and securities transactions. Mutual funds and exchange traded funds also charge
internal management fees, which are disclosed in a fund’s prospectus. Such charges, fees
and commissions are exclusive of, and in addition to, WGI’s fee, and WGI shall not receive
any portion of these commissions, fees, and costs.
Item 12 further describes the factors that WGI considers in selecting or recommending
broker-dealers for client transactions and determining the reasonableness of their
compensation (
e.g., commissions).
ITEM 6 – PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT
WGI does not charge any performance-based fees (fees based on a share of capital gains or
capital appreciation of the assets of a client).
ITEM 7 - TYPES OF CLIENTS
WGI provides portfolio management services to high net worth individuals, investment
companies (including mutual funds), corporate pension and profit-sharing plans, pooled
investment vehicles, charitable institutions, foundations, endowments, municipalities,
corporations, and other U.S. and international institutions.
The minimum investment for a separate account is $50 million and the minimum
investment into a commingled account is $10 million. WGI may, in its sole and absolute
discretion, waive or alter such minimum investment amounts at any time.
ITEM 8 - METHOD OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS
WGI principally invests in equity securities of companies operating in both developed and
developing world markets. We define developing markets as those countries defined by
the World Bank as having low to middle per capita income, those countries with a stock
market capitalization of less than two percent (2%) of the Morgan Stanley Capital
International World Index (“MSCI”), and those countries that are included within the MSCI
Emerging Markets Free Index or MSCI Small Cap Index.
WGI will invest, hold, sell, and otherwise deal in securities and tangible investment
instruments including, among others, equities, bonds, warrants, rights, futures contracts,
foreign currency contracts, and other securities and instruments that are traded in public
markets.
WGI believes that there are significant investment opportunities in global markets that
provide attractive long-term absolute returns. WGI uses a bottom-up approach to identify
opportunities in both developed and developing world markets. This bottom up approach
is driven by management contact, financial statement analysis, and a focus on valuations
relative to cash flow and earnings growth. Key criteria are cash flow, earnings growth,
balance sheet strength, and returns on capital. We believe that the cost of liquidity is real,
but we will invest in companies of all sizes if the return expected is appropriate.
Risk of Loss:
Investing in securities involves risk of loss that clients should be prepared to bear. In
addition, investing with WGI may involve the following material risks.
Financial Market Fluctuations
General fluctuations in the market prices of securities affects the value of the
investments held by WGI. Instability in the securities markets may also increase the risks
inherent in WGI’s investments.
Non-U.S. Investments
WGI generally invests in non-U.S. companies. These investments involve special risks not
usually associated with investing in securities of U.S. companies or the U.S. government,
ITEM 8 - METHOD OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS
including political and economic considerations, such as greater risks of expropriation and
nationalization, confiscatory taxation, the potential difficulty of repatriating funds, general
social, political and economic instability and adverse diplomatic developments; the
possibility of imposition of withholding or other taxes on dividends, interest, capital gain or
other income; the small size of the securities markets in such countries and the low volume
of trading, resulting in potential lack of liquidity and in price volatility; fluctuations in the
rate of exchange between currencies and costs associated with currency conversion; and
certain government policies that may restrict WGI’s investment opportunities. In addition,
because non-U.S. entities are not subject to uniform accounting, auditing, and financial
reporting standards, practices and requirements comparable with those applicable to U.S.
companies, there are different types of, and possibly lower quality, information available
about a non-U.S. company than a U.S. company. There is also less regulation, generally, of
the securities markets in foreign countries, than there is in the U.S., and such markets may
not provide the same protections available in the U.S. With respect to certain countries,
there is the possibility of political, economic or social instability, the imposition of trading
controls, import duties or other protectionist measures, various laws enacted for the
protection of creditors, and greater risks of nationalization or diplomatic developments
which could adversely affect WGI’s investments in those countries. Furthermore,
individual economies can differ favorably or unfavorably from the U.S. economy in such
respects as growth of gross national product, rate of inflation, capital reinvestment,
resource self-sufficiency, and balance of payments position.
Emerging Markets Risk
WGI will invest in securities of companies based in emerging markets. In addition to the
risks described in the preceding paragraph, securities traded in certain emerging markets
are subject to risks due to the inexperience of financial intermediaries, a lack of modern
technology, the lack of a sufficient capital base to expand business operations, and the
possibility of temporary or permanent termination of trading. Political and economic
structures in many emerging markets may be undergoing significant evolution and rapid
development, and therefore lacking the social, political, and economic stability
characteristics of more developed countries. As a result, the risks relating to investments
in foreign securities described above are heightened, including the possibility of
nationalization or expropriation. Settlement mechanisms in emerging securities markets
may be less efficient and reliable than in more developed markets, and placing securities
with a custodian or broker-dealer in an emerging country also present considerable
risks. The small size of securities markets in such countries and the low volume of trading
may result in a lack of liquidity and in substantially greater price volatility. Many emerging
ITEM 8 - METHOD OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS
market countries have experienced substantial, and in some periods extremely high, rates
of inflation for many years. Inflation and rapid fluctuations in inflation rates and
corresponding currency devaluations and fluctuations in the rate of exchange between
currencies and costs associated with currency conversion have had and may continue to
have negative effects on the economies and securities markets of certain emerging market
countries. In addition, accounting and financial reporting standards that prevail in certain
countries are not equivalent to standards in more developed countries and, consequently,
less information is available to investors in companies located in such countries.
Developed Countries Risk
WGI will invest in securities of companies based in developed countries. Investment in
developed country issuers are subject to regulatory, political, currency, security, and
economic risk specific to developed countries. Developed countries generally tend to rely
on services sectors (e.g., the financial services sector) as the primary means of economic
growth. A prolonged slowdown in, among others, services sectors is likely to have a
negative impact on economies of certain developed countries. Developed countries may
experience significant economic slowdown during financial crises. Certain developed
countries have been targets of terrorism. Acts of terrorism in developed countries or
against their interests abroad may cause uncertainty in the financial markets and adversely
affect the performance of the issuers to which the Fund has exposure. Heavy regulation of,
among others, labor and product markets may have an adverse effect on certain issuers.
Such regulations may negatively affect economic growth or cause prolonged periods of
recession. Many developed countries are heavily indebted and face rising healthcare and
retirement expenses. In addition, price fluctuations of certain commodities and regulations
impacting the import of commodities can negatively affect developed country economies.
Exchange Rate Risk
WGI’s assets will be invested in securities denominated in non-U.S. currencies, the price of
which is determined with reference to non-U.S. currencies. WGI will, however, value
clients’
investments and other assets in U.S. dollars. To the extent unhedged, the value of
WGI’s investments will fluctuate with U.S. dollar exchange rates as well as with price
changes of WGI’s investments in the various local markets and currencies. Forward
currency contracts and options may be utilized by WGI to hedge against currency
fluctuations, but WGI is not required to hedge and there can be no assurance that such
hedging transactions will be available or, even if undertaken, effective.
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Registered investment advisers are required to disclose all material facts regarding any
legal or disciplinary events that would be material to your evaluation of WGI or the
integrity of WGI’s management.
WGI has no information applicable to this Item.
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WGI is a SEC registered investment adviser. The principals of WGI, Meg Reynolds and
Bryan Ward, are also the Directors for the WGI Emerging Markets Feeder, Ltd., a Cayman
Islands company. WGI Emerging Markets Feeder, Ltd. is registered with the Cayman
Islands Monetary Authority.
WGI is the manager of WGI Emerging Markets Fund, LLC, WGI Emerging Markets Smaller
Companies Fund, LLC and WGI Developed Markets Ex-U.S. Fund, LLC, which are all
Delaware limited liability companies and open-ended private investment funds.
The sole compensation received by WGI and its management persons is for investment
advisory services. WGI is not a broker-dealer, Commodity Pool Operator, Commodity
Trading Adviser or Futures Commission Merchant and none of its management persons are
associated representatives of a broker-dealer or such regulated entity.
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AND PERSONAL TRADING WGI has adopted a Code of Ethics for all employees of the firm describing its expected
standard of business conduct, and fiduciary duty to its clients. The Code of Ethics includes
provisions relating to the confidentiality of client information, a prohibition on insider
trading, restrictions on the acceptance of significant gifts and the reporting of certain gifts
and business entertainment items, and personal securities trading procedures, among
others. WGI’s Code of Ethics is signed and adopted by every new WGI employee during the
first ten days of his/her employment. Further, all employees must acknowledge the terms
of the Code of Ethics annually, or as amended.
Under some circumstances, employees of WGI are permitted to trade in securities that are
held in client portfolios. The Code of Ethics (the “Code”) is designed to assure that the
personal securities transactions, activities, and interests of the employees of WGI will not
interfere with (i) making decisions in the best interest of advisory clients and (ii)
implementing such decisions while, at the same time, allowing employees to invest for their
own accounts. Under the Code, certain classes of securities have been designated as exempt
transactions, based upon a determination that these would not materially interfere with
the best interest of WGI’s clients. In addition, the Code requires pre-clearance of many
transactions, and restricts trading in close proximity to client trading activity. Nonetheless,
because the Code of Ethics in some circumstances would permit employees to invest in the
same securities as clients, there is a possibility that employees might benefit from market
activity by a client, in a security held by an employee. Employee trading is monitored to
reasonably prevent conflicts of interest between WGI and its clients.
WGI’s clients or prospective clients may request a copy of the firm's Code of Ethics by
contacting Nina Mathur
at nmathur@westwoodglobal.com.
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Broker Selection:
WGI has the discretion to choose brokers and has an approved broker list. WGI aims to
structure its broker relationships to include lowest commission rates as well as best
execution for its clients. If a broker provides trade prices which do not appear to be
appropriate given the information available to us, we will decide how to proceed with the
relationship: terminate, stop trading in a particular country, or by warning the broker and
trying to improve the relationship going forward. While the relationships with broker-
dealers are dynamic in nature, they are reviewed on an as-needed basis and at a minimum,
on an annual basis. The evaluation ranks the brokers, taking into account trade execution
and settlement performance, as well as the broker’s back offices responsiveness.
Soft Dollars:
WGI receives research from various brokers and has one broker soft dollar arrangement.
Compliance maintains a soft dollar quarterly report which details benefits received,
brokers utilized, vendor payments, and soft dollar trades. WGI benefits when it uses soft
dollars to access research and other products and services from brokers because it relieves
WGI of the need to use hard dollars to purchase such services.
WGI may have an incentive to select or recommend a broker-dealer based on our interest
in receiving research or other products or services, rather than on our clients’ interest in
receiving most favorable execution.
Soft Dollar Products or Services
Research and Access – Brokers provide research reports that provide general overviews on
companies, sectors, and markets. Brokers may also arrange company access and meetings.
Bloomberg
- WGI has a soft dollar arrangement with one broker whereby WGI receives
Bloomberg and associated stock exchange feeds for the two Partners. This Bloomberg data
is used solely in the investment making decision process by providing historical
fundamentals, valuations, current market information and news, and price history of
current holdings and potential investments.
Soft Dollar Allocation
Soft dollar allocations are processed to ensure that all accounts pay their proportionate
share. Soft dollar benefits are used to service all client accounts.
Soft Dollar Mark-Ups (Mark-Downs)
WGI has a negotiated commission schedule and the commission is based on this schedule
whether a trade uses soft dollars or not. Thus, there is no mark-up or mark-down on any of
WGI’s trades.
Broker Selection for Soft Dollar Trades
WGI has a soft dollar arrangement with only one broker. WGI selects brokers for client soft
dollar trades based upon the same criteria we chose for all trades, which are: broker
execution and commission rate, relationship with trader, broker’s coverage in country, and
whether they are active in market. The annual commitment to soft dollar trades is equal to
one and a half times the fair value of soft dollar services provided. Soft dollars are typically
less than 5% of total Firm commissions.
Trade Allocation and Conflicts of Interest:
For those accounts with similar investment objectives there may be competing interests for
a portfolio management team’s time and attention. This inherent conflict is mitigated as all
accounts and Funds are managed, allowing for different objectives and client restrictions,
on a pro rata basis. Opportunities for investment, amongst accounts with similar
investment objectives will generally be allocated between accounts as described in our
allocation policy, but WGI will also evaluate factors that we believe to be relevant. Such
factors may include legal or regulatory constraints, investment objectives, taxation,
liquidity, diversification, and the amount of funds each has available for such investment.
Accounts with similar investment objectives may make investments in the same type of
instrument or security at the same time. In those instances, WGI utilizes Eze Castle
Software’s (“EZE”) trading platform to allocate trades amongst portfolios while allowing for
customization of client restrictions. When a buy or sell is initiated by the Principals, EZE
allocates the buy/sell amongst the portfolios based on its existing portfolio percentage of
ownership. If an allocation is too small to be cost effectively allocated pro rata among all
eligible accounts, EZE may be instructed to randomly allocate.
Although our emerging markets and developed markets country restrictions are different,
on occasion, both strategies, according to guidelines, may have the option of purchasing the
same security. Due to the conflict of interests this may cause, including but not limited to,
trades placed on opposite sides of the market or ownership of a different class of shares,
WGI has decided that only one strategy may own a particular security at a time.
If both the developed and emerging markets strategies are interested in purchasing the
same security, we will review the location of the company and headquarters, where the
company is domiciled, listing exchange, percentage of assets by geographical location,
source of revenue, and its index to determine the best strategic fit.
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Review of Accounts:
WGI continuously monitors accounts to ensure they are in compliance with each client’s
investment guidelines.
WGI’s operations team and manager audit the details of all clients’ portfolios daily. The
reviews include verifying the accuracy of all activity posted overnight, including security
pricing, trade activity and settlement status, foreign exchange rates, income accruals and
receipts, expense accruals and payments, as well as any corporate action activity. Both cash
and position reconciliations are prepared (with all variances detailed and investigated) on
a daily basis.
Monthly, the fund accountant prepares and the operations manager reviews the
reconciliations between WGI’s client portfolio valuations and the valuation reports
prepared by the client’s custodian bank. This comprehensive reconciliation includes
security and cash positions and pricing, cost basis, income and expense accruals, as well as
a complete review of income received and expenses paid during the period. All variances
during the period are fully investigated and either resolved or accounted for during the
reconciliation process.
Additional Reviews:
Additional reviews may be triggered by: a) significant change in market conditions, b)
awareness of material change in client’s circumstances or investment objectives, c) changes
in the manager’s assessment of a security held in an account, c) divergence of an account’s
performance from management’s expectations, and d) a price variance greater than 2.5%
that remains unresolved after consultation with the custodian.
Reporting: Separate accounts - Monthly, the client or their appointed administrator, receives the
month-end reconciliation, portfolio appraisal and performance report upon request.
Commingled accounts - Monthly statements and performance along with annual Audited
Financial Statements and Schedule K-1s are either mailed or posted on the secure website
of our custodian or their service provider.
All clients receive a written quarterly report which typically includes their portfolio review,
market review, account performance and any WGI updates.
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WGI does not receive any compensation from any third party in connection with providing
investment advice to you nor do we compensate any individuals or firm for client referrals.
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WGI is deemed to have custody of the assets of its commingled funds, WGI Emerging
Markets Fund, LLC (including its feeder fund, WGI Emerging Markets Feeder, Ltd.), WGI
Emerging Markets Smaller Companies Fund, LLC and WGI Developed Markets Ex-U.S. Fund,
LLC. Pursuant to Rule 206(4)-2 of the Investment Advisers Act of 1940, WGI maintains
compliance by ensuring that:
• The Funds are audited on an annual basis by an independent accountant that is
registered with, and subject to regular inspection by, the Public Company
Accounting Oversight Board in accordance with its rules.
• The Funds distribute audited financial statements prepared in accordance with
Generally Accepted Accounting Principles to all limited partners (or members or
other beneficial owners) within 120 days of the end of its fiscal year of the Fund.
Separately managed account clients should receive at least quarterly statements from the
broker dealer, bank or other qualified custodian that holds and maintains client’s
investment assets. Our statements may vary from custodial statements based on
accounting procedures, reporting dates, or valuation methodologies of certain securities.
WGI urges you to carefully review such statements and compare such official custodial
records to the account statements that we may provide to you. Any questions regarding
statements or concerns regarding investments with WGI should be directed to Nina Mathur
at nmathur@westwoodglobal.com.
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WGI usually receives written discretionary authority from the client at the outset of an
advisory relationship to select the identity and amount of securities to be bought or sold. In
all cases, however, such discretion is to be exercised in a manner consistent with the stated
investment objectives for the particular client account.
When selecting securities and determining amounts, WGI observes the investment policies,
limitations, and restrictions of the clients for which it advises. For registered investment
companies, WGI’s authority to trade securities may also be limited by certain federal
securities and tax laws that require diversification of investments and favor the holding of
investments once made.
Investment guidelines and restrictions must be provided to WGI in writing.
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WGI does exercise its proxy voting authority for the commingled Funds along with a
number of separate accounts as provided in their investment management agreements. For
clients that retain voting authority, proxies are delivered to their proxy voting service or to
the client directly by their custodian. Clients that do not engage WGI for proxy voting and
have questions about a particular solicitation may contact Nina Mathur at
nmathur@westwoodglobal.com. WGI engages ISS (Institutional Shareholder Services) to manage its proxy voting. ISS
receives proxies, prepares research, and makes recommendations for WGI to review. WGI
may choose to vote with ISS recommendations or override the recommendations if they
are not in alignment with WGI’s proxy voting policy.
WGI closely monitors the votes that are placed by accessing the ISS website routinely to
ensure all accounts for which WGI has proxy authority are accounted for and their shares
are correct. WGI’s policy is to vote all proxies in the best interest of minority shareholders.
WGI will generally not vote proxies in share blocking countries because of the trading
restrictions around the time of the vote.
If a conflict of interest should arise, WGI will report any such conflict to the client, and will
obtain the client’s consent before voting. If a client wishes to direct the vote in a particular
solicitation, the client would need to notify WGI in writing.
Clients may obtain a copy of WGI’s complete proxy voting policies and procedures upon
request by contacting Nina Mathur
at nmathur@westwoodglobal.com. Clients may also
obtain information from WGI about how WGI voted any proxies on behalf of their
account(s).
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Registered investment advisers are required in this Item to provide you with certain
financial information or disclosures about WGI’s financial condition. WGI has no financial
commitment that impairs its ability to meet contractual and fiduciary commitments to
clients, and has not been the subject of a bankruptcy proceeding.
BROCHURE SUPPLEMENT
MEG REYNOLDS, PRINCIPAL
BRYAN WARD, PRINCIPAL
JOSH BYRNE, PORTFOLIO MANAGER
JARROD PELLETIER, PORTFOLIO
MANAGER
ITEM 1 – COVER PAGE MEG REYNOLDS
WESTWOOD GLOBAL INVESTMENTS, LLC
ONE FINANCIAL CENTER
SUITE 1620
BOSTON, MA 02111
617-428-4040
INFORMATION IS AS OF DECEMBER 31, 2019
FILING DATE OF MARCH 27, 2020
This Brochure Supplement provides information about Meg Reynolds that supplements the Westwood Global Investments, LLC Brochure. You should have received a copy of that Brochure. Please contact Nina Mathur, Chief Compliance Officer at 617-428-4086 if you did not receive Westwood Global Investments’ Brochure or if you have any questions about the contents of this supplement.
Additional information about Meg Reynolds is available on the SEC’s website at
www.adviserinfo.sec.gov .
ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Meg Reynolds, CFA
Year of birth: 1964
Business Background:
2003 - 2019: CEO/Principal, Westwood Global Investments
Meg received a B.S. from the University of New Hampshire and an M.S. from the
Massachusetts Institute of Technology. Meg founded Westwood Global Investments, LLC
(“WGI”) with Bryan Ward and has been both Principal and Portfolio Manager at WGI since
WGI’s inception in 2003.
Meg is a Chartered Financial Analyst (CFA) charter holder issued by the CFA Institute. The
requirements for the CFA designation are:
• an undergraduate degree (or a combination of 4 years of related work and/or
school experience),
• successful completion of the CFA Program, which includes a series of three exams,
• 48 months of relevant work experience in the investment decision-making process,
• ongoing commitment to the CFA Institute's Professional Conduct Program,
• maintenance of active membership status in the CFA Institute.
ITEM 3 – DISCIPLINARY INFORMATION Meg Reynolds is not actively engaged in any investment–related business or occupation
besides managing WGI.
There are no arrangements where a non-client provides an economic benefit to Meg
Reynolds for providing advisory services. Meg Reynolds is compensated solely on the
profits of WGI and therefore receives an economic benefit on the success of WGI, including
new accounts and additional assets.
Bryan Ward and Meg Reynolds are the Principals of WGI and they jointly manage all
aspects of WGI. As all decisions are mutual, the two Principals act as each other’s
supervisor. Bryan Ward, CFO, can be reached at 617-428-4046.
With respect to compliance matters, Meg Reynolds is supervised by the Chief Compliance
Officer, Nina Mathur, who can be reached at 617-428-4086.
ITEM 1 –COVER PAGE BRYAN WARD
WESTWOOD GLOBAL INVESTMENTS, LLC
ONE FINANCIAL CENTER
SUITE 1620
BOSTON, MA 02111
617-428-4040
INFORMATION IS AS OF DECEMBER 31, 2019
FILING DATE OF MARCH 27, 2020
This Brochure Supplement provides information about Bryan Ward that supplements the Westwood Global Investments, LLC Brochure. You should have received a copy of that Brochure. Please contact Nina Mathur, Chief Compliance Officer at 617-428-4086 if you did not receive Westwood Global Investments’ Brochure or if you have any questions about the contents of this supplement.
Additional information about Bryan Ward is available on the SEC’s website at
www.adviserinfo.sec.gov .
ITEM 2 –EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Bryan Ward, CFA
Year of birth: 1963
Business Background:
2003 – 2019: CFO/Principal, Westwood Global Investments
Bryan received a B.A. from Brigham Young University and an M.B.A. from Cornell
University. Bryan founded Westwood Global Investments, LLC (“WGI”) with Meg Reynolds
and has been both Principal and Portfolio Manager at WGI since WGI’s inception in 2003.
Bryan is a Chartered Financial Analyst (CFA) charter holder issued by the CFA Institute.
The requirements for a CFA designation are:
• an undergraduate degree (or a combination of 4 years of related work and/or
school experience),
• successful completion of the CFA Program, which includes a series of three exams,
• 48 months of relevant work experience in the investment decision-making process,
• ongoing commitment to the CFA Institute's Professional Conduct Program,
• maintenance of active membership status in the CFA Institute.
ITEM 3 –DISCIPLINARY INFORMATION Bryan Ward is not actively engaged in any investment–related business or occupation
besides managing WGI.
There are no arrangements where a non-client provides an economic benefit to Bryan
Ward for providing advisory services. Bryan Ward is compensated solely on the profits of
WGI and therefore receives an economic benefit on the success of WGI, including new
accounts and additional assets.
Bryan Ward and Meg Reynolds are the Principals of WGI and they jointly manage all
aspects of WGI. As all decisions are mutual, the two Principals act as each other’s
supervisor. Meg Reynolds, CEO, can be reached at 617-428-4045.
With respect to compliance matters, Bryan Ward is supervised by the Chief Compliance
Officer, Nina Mathur, who can be reached at 617-428-4086.
ITEM 1 – COVER PAGE
JOSH BYRNE
WESTWOOD GLOBAL INVESTMENTS, LLC
ONE FINANCIAL CENTER
SUITE 1620
BOSTON, MA 02111
617-428-4040
INFORMATION IS AS OF DECEMBER 31, 2019
FILING DATE OF MARCH 27, 2020
This Brochure Supplement provides information about Josh Byrne that supplements the Westwood Global Investments, LLC Brochure. You should have received a copy of that Brochure. Please contact Nina Mathur, Chief Compliance Officer at 617-428-4086 if you did not receive Westwood Global Investments’ Brochure or if you have any questions about the contents of this supplement.
ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Josh Byrne
Year of birth: 1964
Business Background:
2015 – 2019 Portfolio Manager, Westwood Global Investments
2012 – 2014 Director of Research, Westwood Global Investments
2003 – 2011 Co-CIO for International Equities and Portfolio Manager, Putnam
Investments
Josh received a B.S. from the University of Virginia and an M.B.A. from the University of
Pennsylvania.
ITEM 3 – DISCIPLINARY INFORMATION Josh Byrne is not actively engaged in any investment–related business or occupation
besides acting as a Portfolio Manager for WGI.
There are no arrangements where a non-client provides an economic benefit to Josh Byrne
for providing advisory services. Josh Byrne’s compensation is based on the management
fees from the portfolio(s) he manages and the success of WGI, including new accounts and
additional assets.
Josh Byrne is supervised by the Principals: Meg Reynolds and Bryan Ward. They may be
reached at 617-428-4045 and 617-428-4046 respectively.
ITEM 1 – COVER PAGE JARROD PELLETIER
WESTWOOD GLOBAL INVESTMENTS, LLC
ONE FINANCIAL CENTER
SUITE 1620
BOSTON, MA 02111
617-428-4040
INFORMATION IS AS OF DECEMBER 31, 2019
FILING DATE OF MARCH 27, 2020
This Brochure Supplement provides information about Jarrod Pelletier that supplements the Westwood Global Investments, LLC Brochure. You should have received a copy of that Brochure. Please contact Nina Mathur, Chief Compliance Officer at 617-428-4086 if you did not receive Westwood Global Investments’ Brochure or if you have any questions about the contents of this supplement.
ITEM 2 – EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Jarrod Pelletier
Year of birth: 1983
Business Background:
2015 - 2019 Portfolio Manager, Westwood Global Investments
2009 – 2015 International Equity Analyst, Putnam Investments
2006 - 2009 Investment Associate, Putnam Investments
Jarrod received a B.S. in Business Administration from Merrimack College and a M.B.A.
from Yale University.
ITEM 3 – DISCIPLINARY INFORMATION Jarrod Pelletier is not actively engaged in any investment–related business or occupation
besides acting as a Portfolio Manager for WGI.
There are no arrangements where a non-client provides an economic benefit to Jarrod
Pelletier for providing advisory services. Jarrod Pelletier’s compensation is based on the
management fees from the portfolio(s) he manages and the success of WGI, including new
accounts and additional assets.
Jarrod Pelletier is supervised by the Principals: Meg Reynolds and Bryan Ward. They may
be reached at 617-428-4045 and 617-428-4046 respectively.
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