Aston Hill Asset Management has selected Manitou Investment Management as the sub-advisor of the Aston Hill Canadian Total Return Fund, effective 1 January 2016.
The move will have no impact on the fund’s investment objective, which will provide long-term returns by investing in a portfolio consisting primarily of Canadian equity securities.
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The fund has been designed to target equity securities of Canadian and, to a lesser extent, US mid- to large- capitalization companies.
As part of the partnership, Manitou will use liquid alternative strategies within the fund, including options strategies, to enhance downside protection as well as generate income.
Manitou has appointed Peter Hofstra as lead portfolio manager of the fund. Hofstra, who has twenty years of industry experience, joined Manitou in 2010 as managing director of investment management and research also worked for six years at AIC Investments.
Additionally, Manitou will take over portfolio management responsibilities from the fund’s current portfolio manager, Aston Hill’s John Kim.
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By GlobalDataMeantime, 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.
Aston Hill Financial interim CEO Peter Anderson said: "We are pleased to be their exclusive partner bringing their investment strategy to financial advisors and the retail investment industry."
"This partnership with Manitou provides another avenue for Aston Hill to continue to bring low volatility, risk-focused mandates to investment advisors," added Anderson.
