Aston Hill Reports Third Quarter Assets Under Management

CALGARY, Oct. 9, 2014 /CNW/ - Aston Hill Financial Inc. ("Aston Hill" or the "Company") (TSX:AHF) today reports preliminary assets under management and administration ("AUM") of $7.1 billion at September 30, 2014, compared with $7.5 billion at June 30, 2014 and $7.8 billion at September 30, 2013. AUM by category is set forth in the table below.

($ in millions)

30-Sep-14

30-Jun-14

31-Mar-14

31-Dec-13

30-Sep-13

Year-

Over-Year

Increase

Aston Hill Managed Funds








Mutual Funds

1,054

980

841

648

592

78%


Closed End Funds

1,623

1,977

1,815

1,761

1,641

-1%


Hedge Funds

23

17

16

11

7

229%

Total Aston Hill Managed Funds

2,700

2,974

2,672

2,420

2,240

21%








Sub-Advised Funds








Mutual Funds

3,311

3,503

3,592

3,706

3,730

-11%


Closed End Funds

200

206

220

230

275

-27%

Total Sub-Advised Funds

3,511

3,709

3,812

3,936

4,005

-12%








Other Assets

845

800

892

1,410

1,583

-47%








Total Assets

7,056

7,483

7,376

7,766

7,828

-10%

 

  • Gross mutual fund sales for the quarter were $119.8 million. Net mutual fund sales for the quarter were $91.4 million. Aston Hill continues to focus on increasing our higher margin proprietary retail mutual fund AUM.
  • Aston Hill Capital Markets Inc. filed the preliminary prospectus for a new structured product named Voya Global Income Solutions Fund, the marketing of which commenced on October 1.
  • In mid-July, subsequent to the second quarter's end, Aston Hill surpassed the $1 billion in AUM milestone of in-house Aston Hill mutual funds.
  • Closed end fund redemptions during the quarter were $298.5 million, 78% of which was comprised of redemptions from Aston Hill VIP Income Fund and Aston Hill Oil & Gas Income Fund following the fully subscribed warrant offering in Q2.

About Aston Hill Financial Inc.

Aston 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.

SOURCE: Aston Hill Financial Inc.

For further information: Eric Tremblay, Chief Executive Officer, Aston Hill Financial Inc., (403) 770-4817; Larry Titley, Vice President and CFO, Aston Hill Financial Inc., (403) 770-4808

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