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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