Aston Hill Asset Management has launched two new liquid alternative mutual funds aimed at Canadian investors.
The new funds are Aston Hill U.S. Growth Fund and Aston Hill Corporate Bond Fund (formerly Build America Investment Grade Bond Fund).
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Aston Hill president & co-chief investment officer Ben Cheng said, "We are launching these funds in response to advisors seeking non-traditional equity and fixed income strategies that provide investors with a unique risk-reward profile regardless of the market environment. We believe our approach to using alternative strategies combined with fundamental and quantitative analysis, provides a unique product that addresses the need for lower risk, less correlated portfolios."
Aston Hill U.S. Growth Fund will mainly invest in US equity securities with an aim to offer long-term capital growth. The fund may also invest in non-US equity securities to a lesser extent.
The fund will blend fundamental equity research with various option strategies to generate income, boost returns and provide downside protection. It aims to remain between 80 – 95% invested in equities.
The fund will be managed by Jeff Burchell as co-chief investment officer.
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By GlobalDataAston Hill Corporate Bond Fund will primarily invest in investment grade Canadian corporate bonds that are rated BBB- or above.
Moreover, it may also invest in other Canadian and non-Canadian issuers of fixed income securities to a lesser extent. This includes high yield corporate debt, floating rate notes, bank loans, convertible debentures, bonds backed by mortgages as well as other income securities.
The fund will be managed by Barry Morrison as CEO of Aston Hill Institutional Partners.
Both the new funds will employ shorting strategies, within regulatory limitations.
