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Proposed changes to the investment objectives of Aston Hill Strategic Yield Funds include a broadened mandate with continued focus on income, capital appreciation and low risk
TORONTO, Dec. 21, 2011 /CNW/ - Aston Hill Asset Management Inc. (the "Manager"), the manage...
About this update from Flow Capital Corp.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Dec. 21, 2011 /CNW/ - Aston Hill Asset Management Inc. (the\n \"Manager\"), the manager of Aston Hill Strategic Yield Fund, Aston Hill\n Strategic Yield Class and Aston Hill Strategic Yield Trust (the\n \"Funds\"), announced that, subject to each Fund receiving securityholder\n approval, the investment objectives, strategies and restrictions of the\n Funds will change in order to permit each Fund to seek to provide\n investors with a high yield by investing primarily in, or obtaining\n exposure primarily to, fixed income securities of corporate issuers\n located in Canada or the United States.\n\n\n\"We are excited about expanding the mandate of the Funds to include high\n yield debt,\" said Ben Cheng, Chief Investment Officer of Aston Hill\n Asset Management. \"The high yield debt asset class has produced returns\n better than or comparable with equities in Canada and the U.S. over\n both recent periods and longer history, with less volatility. Aston\n Hill already manages over a billion dollars in high yield AUM, and we\n believe Strategic Yield Fund unitholders will benefit from Aston Hill's\n knowledge and expertise in the asset class. We will continue to focus\n on securityholder income and capital appreciation with low risk.\" An\n increase in the monthly distribution rate in Aston Hill Strategic Yield\n Fund was announced on December 15.\n\n\nSpecial meetings of the securityholders of the Funds will be convened on\n or about February 7, 2012 to approve the changes and, if approved by\n the securityholders of each Fund, the changes will take effect\n immediately thereafter.\n\n\nAdditional information concerning the Funds, including the proposed\n investment objective changes, is available at www.astonhill.ca and www.sedar.com.\n\n\nAbout Aston Hill\n\n\nThe Manager is a wholly-owned subsidiary of Aston Hill Financial Inc.\n (TSX: AHF).  Aston Hill Financial is a diversified asset management\n company with a suite of retail mutual funds, closed-end funds, private\n equity funds, hedge funds and segregated institutional funds. It is\n also engaged in oil and gas property management.  Aston Hill Financial\n has offices in Calgary and Toronto.\n\n\n Michael J. Killeen President Aston Hill Asset Management Inc. (416) 362-5597 Sean Stansfield Senior Vice President, Eastern Sales Aston Hill Asset M...