Aston Hill Announces Changes to the Aston Hill North American Dividend Fund and Aston Hill North American Dividend Class
Aston Hill Announces Changes to the Aston Hill North American Dividend Fund and Aston Hill North American Dividend Class
Canada NewsWire
TORONTO, Oct. 9, 2015
TORONTO, Oct. 9, 2015 /CNW/ - Aston Hill Asset Management Inc. (the "Manager"), the manager of Aston Hill North American Dividend Fund and Aston Hill North American Dividend Class (the "Funds") announced that the sole securityholder of each of the Funds approved the previously announced changes to the investment objectives of the Funds.
The new investment objectives of the Funds are as follows:
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Fund
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Investment Objective
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Aston Hill North American Dividend Fund
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The investment objectives of the fund are to generate a high level of income and long-term capital growth by investing primarily in a mix of income-producing securities, including but not limited to, equity securities, common and preferred shares, real estate investment trusts (REITs), convertible securities, investment grade fixed income securities, higher yielding, lower quality fixed income securities, floating rate debt instruments and asset-backed securities and mortgage-backed securities, which may be located anywhere in the world.
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Aston Hill North American Dividend Class
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The investment objectives of the fund are to generate a high level of income and long-term capital growth by investing primarily in a mix of income-producing securities, including but not limited to, equity securities, common and preferred shares, real estate investment trusts (REITs), convertible securities, investment grade fixed income securities, higher yielding, lower quality fixed income securities, floating rate debt instruments and asset-backed securities and mortgage-backed securities, which may be located anywhere in the world. The fund may also invest in other mutual funds.
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Concurrently with the change in investment objectives, the names of the Funds have been changed to Aston Hill High Income Fund and Aston Hill High Income Class, respectively.
As a result of the above noted changes, the Manager has reduced the management fees for Series A and TA6 securities of the Funds to 1.90% and the management fees for Series F and TF6 to 0.90%.
Over the past year Aston Hill Financial Inc. ("Aston Hill") has been focused on building its in-house mutual fund platform, completing a corporate reorganization, and implementing numerous cost-cutting initiatives across all lines of its business. Furthermore, it was previously announced that Aston Hill will be initiating its sales and marketing strategies specifically focused on Ben Cheng1, President and Chief Investment Officer, as it is anticipated that he will be able to begin managing investment funds exclusively for Aston Hill for the first time beginning in late November 2015.
The Manager is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSX: AHF). Aston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. Aston Hill Financial has offices in Toronto and Halifax.
1Ben Cheng does not act as a portfolio manager for the investment funds named in this document. See www.astonhill.ca for details.
SOURCE Aston Hill Asset Management Inc.
Please contact your financial advisor, call Aston Hill's Sales and Marketing support line at 416-583-2300 (toll-free at 1-800-513-3868), or visit our website at www.astonhill.caCopyright CNW Group 2015