CALGARY, April 11 /CNW/ - Aston Hill Financial Inc. ("Aston Hill")
announces it has filed its Annual Audited Consolidated Financial
Statements for the year ended December 31, 2010 and related Management
Discussion and Analysis with Canadian securities regulatory
Management fee revenues were $9.3 million for 2010 compared to $3.7
million in the prior year. Cash flow from operations in 2010 was $3.2
million compared to $0.3 million in 2009. Included in this are
non-recurring cash expenses of $308,000 related to a corporate
acquisition completed in the year. During the fourth quarter of 2010,
Aston Hill paid a special dividend to its shareholders totaling $1.4
million. Assets under management and advisory ("AUM") at December 31,
2010 was $2.9 billion.
As of March 31, 2011, AUM was approximately $3.2 billion, an increase of
78% from March 31, 2010 levels of $1.8 billion. The notable rise in AUM
is mainly due to the continued growth and above index performance of
certain funds for which an Aston Hill subsidiary is sub-advisor to IA
Clarington Investments Inc., as well as new fund mandates involving BMO
Nesbitt Burns and the corporate acquisition in August 2010 of Navina
Asset Management Inc.
Subsequent to year end, Aston Hill announced on March 10, 2011 that a
special cash dividend in the amount of $0.01 per common share was
payable on March 31, 2010 to all shareholders of record on March 21,
Aston Hill Financial Inc. is an asset management company with expertise
in income generating products, energy investments and oil and gas
property management. Aston Hill has offices in Calgary and Toronto and
is listed on the TSX Venture Exchange under the symbol "AHF".
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
Forward-Looking Statements: This news release contains certain "forward-looking statements" within
the meaning of such statements under applicable securities law.
Forward-looking statements are frequently characterized by words such
as "plan", "continue", "expect", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "potential", "proposed" and
other similar words, or statements that certain events or conditions
"may" or "will" occur. These statements are only predictions. Various
assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout this
news release. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements.
For a detailed description of the risks and uncertainties facing Aston
Hill and its business and affairs, readers should refer to Aston Hill's
interim and annual financial statements and management discussion and
analysis which are available at www.sedar.com. Aston Hill undertakes
no obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change, unless required by
law. The reader is cautioned not to place undue reliance on
SOURCE Aston Hill Financial Inc.
For further information:
| Please contact: || |
| Eric Tremblay |
Chief Executive Officer
Aston Hill Financial Inc.
| Larry Titley |
Vice President and CFO
Aston Hill Financial Inc.