TORONTO, May 27, 2014 /CNW/ - Aston Hill Asset Management Inc. (the "Manager"), the manager of Aston Hill Short-Term Income Fund (the "Fund") announced that, subject to receiving the approval of its unitholders, the investment objective of the Fund will change in order to permit the Fund to seek to provide long-term returns by investing in a portfolio consisting primarily of Canadian equity securities. If approved, the name of the Fund also will change to "Aston Hill Canadian Total Return Fund".
A special meeting of the unitholders of the Fund will be convened on or about June 26, 2014 to approve the change to the Fund's investment objective and, if approved, will take effect on or about July 5, 2014. No additional Series A or Series F units of the Fund will be issued (other than pursuant to the reinvestment of distributions) and such units are renamed Series Y and Series Z, respectively, effective immediately. The Fund intends to launch new versions of Series A and Series F units for which the annual management fees charged to the Fund will be 2.00% and 1.00%, respectively, commensurate with the management fees charged to other mutual funds with mandates similar to the Fund's proposed new investment objective.
Current unitholders who do not wish to remain investors in the Fund after the investment objective is changed may switch to other Aston Hill mutual funds, or redeem their units without paying any deferred sales charges.
About Aston Hill
The Manager 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. Aston Hill Financial has offices in Calgary, Toronto and Halifax.
SOURCE: Aston Hill Asset Management Inc.
For further information: Sales & Marketing Department, Aston Hill Asset Management Inc., 1-800-513-3868, www.astonhill.ca