Advantaged Canadian High Yield Bond Fund Unitholders Approve Continuation as Closed-End Fund

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TORONTO, March 8, 2013 /CNW/ - Scotia Managed Companies Administration Inc. (the "Manager"), the manager of the Advantaged Canadian High Yield Bond Fund (the "Fund") (TSX: AHY.UN), announced today that the Fund's unitholders (the "Unitholders") approved certain amendments to the declaration of trust that governs the Fund that will permit the Fund to continue as a closed-end fund after March 29, 2013, and provide Unitholders with a right to redeem their units at their respective net asset value per unit on or about December 15^th of each year commencing in 2013. Details of the changes to the Fund that have been approved by Unitholders are contained in the management information circular of the Fund dated February 8, 2013.

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

Investor Relations
Advantaged Canadian High Yield Bond Fund
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Web site: www.scotiamanagedcompanies.com
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