Toronto-based Aston Hill Asset Management Inc. is proposing to change the investment objective of Aston Hill Money Market Fund.
The change would permit the fund to investing primarily in short duration fixed income securities.
If approved, the annual management fees charged to the fund in respect of its Series A units and Series F units also would rise to 1.40% and 0.90%, from 0.5% and 0.25%, respectively.
A special meeting of the unitholders will be convened on May 22 to approve the changes. If approved, the changes will take effect immediately thereafter.
Aston Hill is a wholly owned subsidiary of Aston Hill Financial Inc. (TSX: AHF).