Advantaged Canadian High Yield Bond Fund announces annual redemption results

/Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America./

TORONTO, Feb. 20, 2013 /CNW/ - Scotia Managed Companies Administration Inc. announced that 584,701 Class A units and 25,000 Class F units of the Advantaged Canadian High Yield Bond Fund (the "Fund") (TSX: AHY.UN), representing approximately 8.18% and 1.09%, respectively, of the current issued and outstanding units of such class, have been tendered for the existing one time redemption on March 15, 2013 (the "Redemption Date").

Payment of the redemption proceeds will be made on or before March 28, 2013 at a redemption price equal to the net asset value per unit of that class of units on the Redemption Date, less any costs or expenses incurred by the Fund in connection with funding the redemption.

The Fund is a closed-end investment fund established under the laws of the Province of Ontario to provide unitholders with investment exposure to a diversified portfolio of Canadian high yield fixed income securities actively managed by High Rock Capital Management Inc.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Scotia Managed Companies Administration Inc. undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.  There is no assurance that the Fund will be able to achieve its distribution and capital preservation objectives or that the full amount of a unitholders investment in the Fund will be returned.

SOURCE: Advantaged Canadian High Yield Bond Fund

For further information:

Investor Relations
Advantaged Canadian High Yield Bond Fund
Tel: (416) 945-5353
Web site: www.scotiamanagedcompanies.com
Email: mc_chybondfund@scotiacapital.com