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Aston Hill Asset Management Inc. announces the launch of Aston Hill Strategic Yield II Fund
TORONTO , June 5, 2013 /CNW/ - Aston Hill Asset Management Inc. (the " Manager ") is ple...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\nTORONTO, June 5, 2013 /CNW/ - Aston Hill Asset Management Inc. (the \"Manager\") is pleased to announce the launch of a new fund called Aston Hill\n Strategic Yield II Fund (\"SY II Fund\").  SY II Fund was created to provide a new option for investors\n looking to access the high yield portfolio managed by Mr. Sandy Liang\n after Aston Hill Strategic Yield Fund (\"SY Fund\") was closed for new purchases earlier this year as a result of the\n Federal Budget changes announced in March. Specifically, the Federal\n Budget ended the use of a forward purchase or sale agreement (a \"Forward Agreement\") if entered into or extended on or after March 21, 2013. Forward\n Agreements have been used by investment funds to obtain exposure to a\n reference portfolio or asset on a more tax-efficient basis than\n directly holding the reference portfolio or asset. SY Fund currently\n has in place a Forward Agreement which provides exposure to the\n investment returns of Aston Hill Strategic Yield Trust (\"SY Trust\").  This Forward Agreement was entered into prior to the date of the Budget and will therefore continue to offer current\n unitholders tax-efficiency until the end of its term on December 9,\n 2014. For more information on the impact of the Federal Budget, please\n view our communication released on April 3, 2013 titled Impact of the Federal Budget on Aston Hill Funds Currently Utilizing\n Forward Agreements.\n\n\nThe newly launched SY II Fund has the same investment objective as SY\n Fund. Similarly to SY Fund, SY II Fund's investment strategy is to\n obtain exposure to SY Trust by investing directly in units of SY Trust,\n but without the use of a Forward Agreement. As both SY Fund and SY II\n Fund seek to achieve their objective by obtaining exposure to SY Trust,\n the Manager expects the returns for these two funds to be similar;\n however, it is important to note that future returns will not be\n identical as there are different fees and expenses associated with each\n fund, one of which is the cost of the Forward Agreement utilized by SY\n Fund.\n\n\n\"Mr. Liang has done an impressive job generating low volatility returns\n for current investors and, as a result, the Strategic Yield strategy\n continues to garner significant interest. We are pleased to have\n launched Aston Hill Strategic Yield II Fund ...