Aston Hill proposes fund reorganization

Calgary-based Aston Hill Financial Inc. subsidiaries Aston Hill Asset Management Inc. and Aston Hill Capital Markets Inc. are proposing to reorganize three funds. The asset managers propose to change three funds – Aston Hill VIP Income Fund, Aston Hill Oil & Gas Income Fund and Low Volatility Canadian Equities Income Fund – to open-ended funds from closed-end funds. Should the proposals be approved by unitholders, the Oil and Gas Income Fund will merge with Aston Hill Global Resource & Infrastructure Fund. The three reorganized funds will be delisted from the Toronto Stock Exchange on the effective date of the conversions. As well, the funds’ units will become redeemable at net asset value per unit on a daily basis. The investment strategies and restrictions of all three funds will be amended to allow for a broader securities selection. The management fees for each fund will not change. A meeting of unitholders will be held on Aug. 10 to vote on the proposals. For more information on fees and the proposed changes, visit www.astonhill.ca.

(fcollie@investmentexecutive.com).