Arrow offers stand-alone Canadian Income Fund advised by Ben Cheng

    The Arrow Canadian Income Fund, advised by Ben Cheng of Aston Hill
    Financial, targets a high level of income and potential capital gains

    TORONTO, Jan. 30 /CNW/ - Arrow Hedge Partners Inc. today announced the
launch of Arrow Canadian Income Fund. The Fund will invest primarily in
Canadian income trusts and dividend-paying common shares, with a focus on
North American securities. The Fund's investment objective is to achieve a
high level of income and potential capital gains, generating an attractive
risk-adjusted return with moderate volatility. The Fund, advised by Ben Cheng
of Aston Hill Financial Ltd., a wholly owned subsidiary of Overlord Financial
Inc., will be available for purchase by accredited investors on February 1,
    "With the recent changes to the income trust legislation introduced by
the Canadian government, we believe this is an ideal time to start a
long/short fund that can take advantage of the considerable market
opportunities created," says Mark Purdy, Managing Director and Chief
Investment Officer of Arrow Hedge Partners.
    "We are very excited to be working with Ben Cheng again," says James
McGovern, Chief Executive Officer of Arrow Hedge Partners Inc. "The Fund
offers investors an opportunity for a high level of income and potential
capital gains within a hedged investment process."
    Aston Hill's "bottom up" research approach concentrates on companies that
operate in defensible niche markets and that have strong cash flow and
compelling growth prospects. Arrow Canadian Income Fund will generally
maintain a long bias, conducting a bottom-up analysis of each security it
owns, long or short.
    "The securities selected for Arrow Canadian Income Fund will go through a
rigorous analytical process, with a focus on free cash flow," says Ben Cheng,
Portfolio Manager and Advisor to the Fund.

    About Arrow Hedge Partners Inc.
    Arrow Hedge Partners Inc. is an investment management company that
specializes in providing access to high-quality hedge fund managers and
multi-manager funds of funds to a wide range of clients, including family
offices, institutions, pension funds and high net-worth individuals. Arrow
Hedge Partners Inc. is a member of AIMA (Alternative Investment Management
Association) and is a substantial co-investor in its own funds. Arrow Hedge
Partners Inc. is headquartered in Toronto, Canada, with sales offices in
Vancouver, Calgary, Montreal and Geneva. Arrow Hedge currently manages over
CDN$750 million on behalf of high net-worth and institutional investors

    About Aston Hill Financial Inc.
    Aston Hill Financial Ltd. (Aston Hill) is a wholly owned subsidiary of
Overlord Financial Inc. (Overlord), a public company listed on the TSX Venture
exchange under the symbol 'OFI'. Overlord was founded in 2001 by Marcel
Tremblay, who was the original pioneer of the income trust structure in Canada
and managed Enerplus Resources, one of the most successful income trusts. In
August 2006, Eric Tremblay took over as Executive Chairman. In December 2006,
Ben Cheng joined as President of Aston Hill. Overlord is an investment manager
specializing in junior oil and gas, energy-based trusts, oil and gas property
management, private equity and high-yield structured products. Aston Hill has
considerable expertise in business trusts, REITs, dividend-paying common
equities and high-yield bonds.

For further information:

For further information: Jim McGovern, (416) 323-0477 ext 222,; Mark Purdy, (416) 323-0477 ext 223,;

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