TORONTO, Dec. 21, 2015 /CNW/ - Aston Hill Asset Management Inc. ("Aston Hill") is pleased to announce it has appointed Manitou Investment Management Ltd. ("Manitou") as the sub-advisor of the Aston Hill Canadian Total Return Fund (the "Fund") effective January 1, 2016.
"We are very excited about this partnership between our two firms," said Peter Anderson, Interim Chief Executive Officer of Aston Hill Financial Inc. "For the past six years, Mark Gaskin, Chief Executive Officer, and the Manitou team have been building a successful track record for their high net worth and institutional clients. We are pleased to be their exclusive partner bringing their investment strategy to financial advisors and the retail investment industry."
There will be no change to the Fund's investment objective, which is to seek to provide long-term returns by investing in a portfolio consisting primarily of Canadian equity securities. The Fund currently focuses on equity securities of Canadian and, to a lesser extent, U.S. mid- to large- capitalization companies. Manitou will continue to use liquid alternative strategies within the Fund, including options strategies, to enhance downside protection as well as generate income.
Peter Hofstra will act as lead portfolio manager of the Fund on behalf of Manitou. Mr. Hofstra joined Manitou in 2010 as Managing Director of Investment Management and Research and has twenty years of industry experience, including six years at AIC Investments managing a U.S. equity fund and science and technology fund.
"After much due diligence, we concluded that Aston Hill's corporate reorganization, undergone this year, makes them an excellent partner for judiciously growing our business while providing quality management to their clients," said Manitou Director James Werry. Mr. Werry is well known in the investment advisor community due to his success in this field, first spending 25 years at Scotia McLeod where he was ultimately appointed CEO, and later when founding Richardson GMP.
"This partnership with Manitou provides another avenue for Aston Hill to continue to bring low volatility, risk-focused mandates to investment advisors," said Mr. Anderson. "And as a firm, we remain dedicated to providing liquid alternative mutual funds that are focused on managing downside risk, a key priority for investors in today's volatile markets."
Manitou assumes portfolio management responsibilities from the Fund's current portfolio manager, Aston Hill's John Kim. Mr. Kim will remain portfolio manager of the Aston Hill Total Return Fund (formerly Aston Hill Capital Growth Fund) as well as Aston Hill's suite of energy and resource funds.
Manitou's Investment Process
Manitou's investment process is intended to achieve two goals, preserving and growing capital, and is fueled by independent quantitative and qualitative analyses combined with sound judgment. It is a process grounded in discipline and in the inherent knowledge that investing in quality companies protects capital from permanent loss and purchasing the stock with a margin of safety provides significantly greater appreciation opportunity when a company's true value is recognized.
Each Manitou investment must fit within a defined set of criteria and be supported by a thesis that clearly articulates how expected results will be achieved within a reasonable time frame. Final investment decisions are predicated on the assessment of each prospective company's business, people and price.
About Aston Hill
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, hedge funds and segregated institutional funds. Aston Hill Financial is headquartered in Toronto.
Manitou Investment Management Ltd. is a Toronto-based, independent owner-operated firm dedicated to delivering exceptional long-term investment performance to a select number of high net worth and institutional clients.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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.
SOURCE Aston Hill Asset Management Inc.
For further information: please contact your financial advisor, call Aston Hill's Sales and Marketing support line at 416-583-2300 (toll-free at 1-800-513-3868), or visit our website at www.astonhill.ca.