CALGARY, Oct. 9, 2014 /CNW/ - Aston Hill Financial Inc. ("Aston Hill" or the "Company") (TSX:AHF) today reports preliminary assets under management and administration ("AUM") of $7.1 billion at September 30, 2014, compared with $7.5 billion at June 30, 2014 and $7.8 billion at September 30, 2013. AUM by category is set forth in the table below.
|
($ in millions)
|
30-Sep-14
|
30-Jun-14
|
31-Mar-14
|
31-Dec-13
|
30-Sep-13
|
Year-
Over-Year
Increase
|
|
Aston Hill Managed Funds
|
|
|
|
|
|
|
|
Mutual Funds
|
1,054
|
980
|
841
|
648
|
592
|
78%
|
|
Closed End Funds
|
1,623
|
1,977
|
1,815
|
1,761
|
1,641
|
-1%
|
|
Hedge Funds
|
23
|
17
|
16
|
11
|
7
|
229%
|
|
Total Aston Hill Managed Funds
|
2,700
|
2,974
|
2,672
|
2,420
|
2,240
|
21%
|
|
|
|
|
|
|
|
|
Sub-Advised Funds
|
|
|
|
|
|
|
|
Mutual Funds
|
3,311
|
3,503
|
3,592
|
3,706
|
3,730
|
-11%
|
|
Closed End Funds
|
200
|
206
|
220
|
230
|
275
|
-27%
|
|
Total Sub-Advised Funds
|
3,511
|
3,709
|
3,812
|
3,936
|
4,005
|
-12%
|
|
|
|
|
|
|
|
|
Other Assets
|
845
|
800
|
892
|
1,410
|
1,583
|
-47%
|
|
|
|
|
|
|
|
|
Total Assets
|
7,056
|
7,483
|
7,376
|
7,766
|
7,828
|
-10%
|
- Gross mutual fund sales for the quarter were $119.8 million. Net mutual fund sales for the quarter were $91.4 million. Aston Hill continues to focus on increasing our higher margin proprietary retail mutual fund AUM.
- Aston Hill Capital Markets Inc. filed the preliminary prospectus for a new structured product named Voya Global Income Solutions Fund, the marketing of which commenced on October 1.
- In mid-July, subsequent to the second quarter's end, Aston Hill surpassed the $1 billion in AUM milestone of in-house Aston Hill mutual funds.
- Closed end fund redemptions during the quarter were $298.5 million, 78% of which was comprised of redemptions from Aston Hill VIP Income Fund and Aston Hill Oil & Gas Income Fund following the fully subscribed warrant offering in Q2.
About Aston Hill Financial Inc.
Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds. Aston Hill Financial Inc. has offices in Calgary, Toronto and Halifax.
SOURCE Aston Hill Financial Inc.
Eric Tremblay, Chief Executive Officer, Aston Hill Financial Inc., (403) 770-4817; Larry Titley, Vice President and CFO, Aston Hill Financial Inc., (403) 770-4808Copyright CNW Group 2014