Business
Aston Hill Reports Second Quarter Assets Under Management
CALGARY , July 9, 2014 /CNW/ - Aston Hill Financial Inc. (" Aston Hill " or the " Company...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\nCALGARY, July 9, 2014 /CNW/ - Aston Hill Financial Inc. (\"Aston Hill\" or the \"Company\") (TSX:AHF) today reports preliminary assets under management and administration (\"AUM\") of $7.5 billion at June 30, 2014, compared with $7.4 billion at March 31, 2014 and $6.7 billion at June 30, 2014. AUM by category is set forth in the table below. \n\n\n\n\n($ in millions)\n\n\n30-Jun-14\n\n\n31-Mar-14\n\n\n31-Dec-13\n\n\n30-Jun-13\n\n\nYear-Over-Year  Increase\n\n\n\nAston Hill Managed Funds\n\n\n\n\n\n\n\n\nMutual Funds\n\n\n980\n\n\n841\n\n\n656\n\n\n 513\n\n\n91%\n\n\n\nClosed End Funds\n\n\n1,997\n\n\n1,815\n\n\n1,761\n\n\n 593\n\n\n237%\n\n\n\nHedge Funds\n\n\n17\n\n\n16\n\n\n11\n\n\n 7\n\n\n141%\n\n\n\nTotal Aston Hill Managed Funds\n\n\n2,994\n\n\n2,672\n\n\n2,428\n\n\n1,113\n\n\n169%\n\n\n\n\n\n\n\n\n\n\nSub-Advised Funds\n\n\n\n\n\n\n\n\nMutual Funds\n\n\n3,503\n\n\n3,592\n\n\n3,705\n\n\n3,764\n\n\n-7%\n\n\n\nClosed End Funds\n\n\n207\n\n\n220\n\n\n231\n\n\n233\n\n\n-11%\n\n\n\nTotal Sub-Advised Funds\n\n\n3,710\n\n\n3,812\n\n\n3,936\n\n\n3,997\n\n\n-7%\n\n\n\n\n\n\n\n\n\n\nOther Assets\n\n\n800\n\n\n892\n\n\n1,410\n\n\n1,608\n\n\n-50%\n\n\n\n\n\n\n\n\n\n\nTotal Assets\n\n\n7,504\n\n\n7,376\n\n\n7,774\n\n\n6,718\n\n\n12%\n\n \n\n\nGross mutual fund sales for the quarter were $128.8 million. Net mutual fund sales for the quarter were $99.3 million. \nRaised $45 million during the launch of a new closed end fund, Euro Banc Capital Securities Trust (EBT.UN). \nClosed warrant offerings on two existing closed end funds, Aston Hill VIP Income Fund at $151 million, and Aston Hill Oil & Gas Income Fund at $30.4 million; both offerings were fully subscribed. \nCompleted the merger of Redwood Income Strategies Class into Aston Hill Growth & Income Fund.\nAbout Aston Hill Financial Inc. \n\nAston Hill Financial Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, private equity funds, hedge funds and segregated institutional funds.  Aston Hill Financial Inc. has offices in Calgary, Toronto and Halifax.\nSOURCE Aston Hill Financial Inc.\n\n\n\nPlease contact: Eric Tremblay, Chief Executive Officer, Aston Hill Financial Inc., (403) 770-4817; Larry Titley, Vice President and CFO, Aston Hill Financial Inc., (403) 770-4808Copyright CNW Group 2014","le...