TORONTO, April 29, 2016 /CNW/ - Aston Hill Asset Management Inc. ("Aston Hill") announced today it has appointed Manitou Investment Management Ltd. ("Manitou") as exclusive sub-advisor to two additional funds.  Effective May 1, 2016, Manitou will take over the portfolio management of two closed end funds; the Aston Hill VIP Income Fund and the Aston Hill Advantage VIP Income Fund.

"The appointment of Manitou to these additional mandates underlines the importance of the partnership and our confidence in their investment process. Their disciplined approach is a perfect fit for these two mandates." said Aston Hill CEO James Werry. "The Manitou investment team has an extremely strong track record built on behalf of their high net worth and institutional clients. Being able to bring this kind of portfolio management expertise to Aston Hill's clients has proven to be a great win for our clients and our company. The deeper we get into the metrics of Manitou's process the more we add to our conviction that Manitou is one of North America's most disciplined investment managers focused on capital preservation. We will continue to look for opportunities to deploy that skill set for our clients."

Peter Hofstra will act as lead portfolio manager on the new assignments. Mr. Hofstra joined Manitou in 2010 as Managing Director of Investment Management and Research and has twenty years of industry experience.

"We describe our approach as conservative not conventional." commented Mr. Hofstra, "Our portfolios tend to have low correlation to most traditional benchmarks. We focus on generating compelling absolute returns through investing in great businesses at good entry prices. 

About Aston Hill

Aston Hill 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 is headquartered in Toronto.  

About Manitou

Manitou Investment Management Ltd. is a Toronto-based, independent owner-operated firm dedicated to delivering exceptional long-term investment performance to a select number of high net worth and institutional clients.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

SOURCE Aston Hill Asset Management Inc.