Aston Hill Asset Management Announces Upcoming Portfolio Management Changes

TORONTO, Aug. 22, 2012 /CNW/ - Aston Hill Asset Management Inc. (the "Manager" or "Aston Hill") announced today that it will assume responsibility for portfolio management of the following funds effective no later than November 20, 2012:

• Aston Hill VIP Income Fund (TSX: VIP.UN); and
• Aston Hill AVIP Trust.

The change also impacts Aston Hill Advantage VIP Income Fund (TSX: AV.UN) which, by virtue of its investment strategies, provides its unitholders with exposure to the return of Aston Hill AVIP Trust.

As of August 21, 2012, the total net asset value of Aston Hill VIP Income Fund and Aston Hill AVIP Trust is $330 million and $135 million, respectively.

Mr. Andrew LB Hamlin and Ms. Vivian Lo, Portfolio Managers at Aston Hill, will become the co-lead portfolio managers of the funds. Mr. Hamlin and Ms. Lo are currently the co-lead portfolio managers on the Aston Hill Growth & Income Fund.

Mr. Hamlin joined Aston Hill Financial Inc. in April 2007 and is a key member of the investment management team, directly managing portfolio assets and contributing to AUM growth. He has over 10 years of capital markets experience. Prior to joining Aston Hill, Mr. Hamlin worked in the equity research departments of TD Newcrest/TD Securities, CIBC World Markets and GMP Capital, all with a focus on income generating securities. Mr. Hamlin has developed extensive experience in managing investments in high yield, equities, convertible bonds, and preferred shares.  Mr. Hamlin holds an MBA from the Schulich School of Business, an MA from Sussex University, and a BA in Economics/History.

Ms. Lo joined Aston Hill Financial Inc. in January 2007 and actively manages portfolio investments and trading strategies across all asset classes including equities, fixed income, convertible debentures and preferred share securities.  Ms. Lo has over 10 years of capital markets experience, and prior to joining Aston Hill, she spent several years at CIBC World Markets in the equity research department.  Ms. Lo obtained her M.B.A. from the Schulich School of Business and her B. Comm from the University of Toronto, and holds the Chartered Financial Analyst designation awarded in 2006.

About Aston Hill

The Manager became the manager of Aston Hill VIP Income Fund, Aston Hill AVIP Trust, Aston Hill Advantage VIP Income Fund and certain other funds on July 27, 2011.

Aston Hill is a wholly-owned subsidiary of Aston Hill Financial Inc. (TSX: AHF).  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.  The Company is also engaged in oil and gas property management.  Aston Hill Financial Inc. has offices in Calgary and Toronto.

SOURCE: Aston Hill Asset Management Inc.

Michael J. Killeen
President
Aston Hill Asset Management Inc.
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