Business
Aston Hill Announces 2012 Year End Results
CALGARY, March 27, 2013 /CNW/ - Aston Hill Financial Inc. (" Aston Hill " or the " Company ...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, March 27, 2013 /CNW/ - Aston Hill Financial Inc. (\"Aston Hill\" or the \"Company\") (TSX:AHF) announces it has filed its Annual Audited Consolidated\n Financial Statements for the year ended December 31, 2012 and related\n Management Discussion and Analysis with Canadian securities regulatory\n authorities.\n\n\nFor the year ended December 31, 2012, Aston Hill's revenue was $24.6\n million, an increase of 35% from 2011 year-end of $18.2 million.  The\n revenue increase was due mainly to the continued growth and performance\n of the Aston Hill mutual funds, a full year of revenues from the closed\n end funds and the institutional funds, and the services agreement with\n Argent Energy Trust signed in August 2012.  Aston Hill Assets under\n Management, Administration and Advisory (\"AUM\") increased 14%\n year-over-year from $5.67 billion to $6.46 billion at December 31,\n 2012. The rise in AUM is mainly the result of new mutual fund\n subscriptions, the addition of Argent and the continued increase in the\n IA Clarington funds for which the Company is the sub-advisor.  As at\n February 28, 2013, total AUM was $6.74 billion.\n\n\nTotal expenses were $15.98 million for 2012 as compared to $11.21\n million for 2011 due to increases in marketing, compensation and office\n expenses related to building the Company's proprietary suite of\n open-ended mutual funds.  AUM for these mutual funds increased from\n $108 million at January 1, 2012 to $300 million at December 31, 2012.\n As at February 28, 2013, Aston Hill open-ended mutual fund AUM was $383\n million as these funds are now selling at their highest rates ever.\n\n\nEBITDA for the year ended December 31, 2012 was $7.34 million before\n stock compensation ($5.13 million after stock compensation), up from\n the prior year amount of $6.43 million before stock compensation ($4.93\n million after stock compensation). The EBITDA increase is a result of\n revenue increases from the Company's investment management services and\n products offset by increased compensation, office, marketing and\n product development costs related to the growth of Aston Hill's mutual\n funds.\n\n\n\"The Company ended 2012 and started the first two months of 2013 with\n very strong sales growth from our Aston Hill family of mutual funds\"\n said Eric Tremblay, Chief E...