Business
Aston Hill Asset Management Inc. announces proposed mutual fund mergers and portfolio advisor changes
Aston Hill Asset Management Inc. announces proposed mutual fund mergers and portfolio advi...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\n\nAston Hill Asset Management Inc. announces proposed mutual fund mergers and portfolio advisor changes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\nAston Hill Asset Management Inc. announces proposed mutual fund mergers and portfolio advisor changes\nCanada NewsWire\nTORONTO, March 14, 2016\n\n\n\nTORONTO, March 14, 2016 /CNW/ - Aston Hill Asset Management Inc. (the \"Manager\" or \"Aston Hill\"), the manager of Aston Hill Growth & Income Fund, Aston Hill Global Growth & Income Fund, Aston Hill High Income Fund, Aston Hill Growth & Income Class and Aston Hill Global Growth & Income Class and Aston Hill High Income Class (collectively, the \"Funds\") announced today that it will propose to securityholders the mergers (the \"Mergers\") of Aston Hill Growth & Income Fund and Aston Hill Global Growth & Income Fund (the \"Terminating Funds\") with Aston Hill High Income Fund (the \"Continuing Fund\") and Aston Hill Growth & Income Class and Aston Hill Global Growth & Income Class (the \"Terminating Classes\") with Aston Hill High Income Class (the \"Continuing Class\"). Further, the company also announced that effective immediately, in addition to his Portfolio Management responsibilities on the Aston Hill High Income Fund, CIO Ben Cheng will assume lead portfolio manager responsibilities for both the fund and class versions of Aston Hill Growth & Income and Aston Hill Global Growth & Income.\n\nThe Manager expects that the benefits for existing securityholders from the proposed Mergers will include:\n\n\nEconomies of scale -  spreading the costs of running the Continuing Fund and Continuing Class over a larger asset base, thereby lowering the overall cost for the Continuing Fund and Continuing Class; \nThe management fee of the two Terminating Funds and Terminating Classes will decrease by 10 basis points; \nMergers will  be done on tax deferred basis thereby creating no tax consequences for securityholders; and \nAll of the costs and expenses associated with the Mergers, inclu...