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Aston Hill has cultivated a diverse suite of products spanning sectors, geographies and asset classes in order to deliver funds that meet the varying needs of our investors.

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Mutual Funds

Aston Hill Total Return Fund & ClassFebruary 28, 2017

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Investment Objectives

The Fund’s investment objective is to seek to achieve consistent risk-adjusted returns that are not highly correlated with the Canadian Capital markets by actively managing long and short North American equities. The portfolio manager employs a three part process for building a diversified portfolio of investment opportunities for the Fund: utilizes disciplined fundamental analysis of a broad universe of small and mid-capitalization companies; then applies rigorous valuation analysis of the equity securities of these companies; and, continues to assess the collective risk-reward parameters of the entire investment portfolio of the Fund.

The portfolio manager regards cash as an asset class and uses it as a tool to reduce volatility within the Fund.

Why Buy This Fund?

  • Long-biased, long-short equity fund focused on small, mid and large cap North American equities
  • Provides a way to defensively start allocating into U.S. equities. Low correlation to typical Canadian investor’s portfolio with limited-to-no exposure to resource sector or Canadian financials
  • Use of liquid alternative tools to reduce volatility: options, shorting, currency, cash

Performance Review

Monthly Performance (%)

JanFebMarAprMayJunJulAugSepOctNovDecYear
20170.80.2          1.1
2016-2.7-2.50.9-0.70.0-0.20.60.5-0.2-1.42.72.2-1.0
2015-0.60.70.7-0.90.00.30.0-1.2-2.62.00.1-3.4-5.0
20140.11.90.6-0.70.90.9-1.11.0-0.10.82.01.27.7
20133.11.72.30.73.1-0.43.1-2.33.21.81.51.821.1
20122.91.72.3-1.0-1.20.10.31.30.90.30.61.010.5
2011    12.41.20.2-1.8-2.91.12.01.218.8

John Kim took over the Fund on June 30, 2015. Monthly Performance and Risk/Reward Analysis is for the period from May 27, 2011 onward when the Fund converted from a closed end fund to an open end mutual fund. The Fund's benchmark is the S&P 500 Total Return Index. S&P/TSX Composite Total Return Index is shown to represent the Canadian market. Total returns in local currency. Source: RBC IS, Bloomberg, PerTrac.

Compound Returns (%)

Fund/Index1-mo3-mo6-mo1-yr3-yr5-yr10-yrIncep.
Total Return4.27.17.98.50.95.90.06.0
S&P 500 TR4.08.010.025.010.614.07.615.2
S&P/TSX Comp TR0.22.76.923.25.87.24.74.8
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Risk/Reward Analysis

FundBenchmark*
Annualized Compound ROR5.9%15.2%
Annualized Std. Deviation5.3%11.4%
Winning Months63.6%69.7%
Average Monthly Gain1.3%2.9%
Average Monthly Loss-1.0%-2.5%
Sharpe Ratio (1.5%)0.81.2
Correlation0.6-
Alpha0.1%-
Beta0.3-
*Benchmark is the S&P 500 Total Return Index

Portfolio Review

Asset Allocation

Equities
87.0%
Cash & Equivalents
10.1%
Cash Covered Ops
2.9%
Fixed Income
0.0%

Geographic Allocation

United States
%
Canada
%
International
%

Sector Allocation

Financials
25.8%
Information Technology
25.3%
Cash & Equivalents
13.0%
Consumer Staples
12.0%
Industrials
6.5%
Health Care
6.0%
Consumer Discretionary
5.8%
Energy
5.7%

Top Holdings

Walgreens Boots Alliance Inc.5.5%
Constellation Software Inc.5.4%
American Express Co.4.9%
Apple Inc.4.6%
Great West Lifeco Inc.4.5%
Berkshire Hathaway Inc.4.5%
Edwards Lifesciences Corp.4.0%
Shopify Inc.3.8%
Airbus Group NV3.6%
Diageo PLC3.5%

Exposure

Gross91.1%%
Long89.0%%
Short-2.1%%
Net87.0%%

Fund Facts

CIFSC Category:Miscellaneous - Other
NAVPS:$9.56 (Fund, Series A)
Inception:November 2003 (Series A)
AUM (Feb. 28, 2017):$40.4 million
MER (Jun. 30, 2015):3.73% (Fund, Series A)
Minimum Purchase:$2,000 Initial, $50 Subsequent
Series UA & UF: $10,000 Initial
Management Fee:2.0%(Series A), 1.0%(Series F)

Fund Codes

CADUSDCorporate Class
Series A (FE) AHF900Series UA AHF961Series A (FE) AHF910
Series A (LSC) AHF901-Series A (LSC) AHF911
Series F AHF902Series UF AHF963Series F AHF912
 T-Series units available

Risk Rating

When you invest in a fund, the value of your investment can go down as well as up. Aston Hill Asset Management Inc. has rated this Fund’s risk as medium.
For a description of the specific risks of this Fund, see the Fund’s simplified prospectus.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Please correct the following errors:

Minimum Investment Requirements

The AHF Credit Opportunities Fund is generally available to investors that can meet a certain minimum amount of money to invest. The minimum initial investment for residents in any province or territory in accordance with applicable securities laws is set out below:

All provinces and territories $125,000 or $25,000(1)
BC, NB, NS and NL Only: $5,000(2)

Notes:

(1) A minimum purchase of $25,000 is available to residents who meet certain requirements.
(2) A minimum purchase of $5,000 is available to residents who meet certain requirements and reside in BC, NB, NS and NL by way of the prescribed OM.
Investors should contact their investment dealer or Financial Advisor for more information.

If you can comfortably invest the minimum dollar amount required in your province or territory, please accept the disclaimer below to learn more about the AHF Credit Opportunities Fund.


Disclaimer: Information pertaining to AHF Credit Opportunities Fund is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units in the AHF Credit Opportunities Fund is made pursuant to its offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility requirements. Please read the offering memorandum carefully before investing.

Minimum Investment Requirements

The Aston Hill Opportunities Fund is generally available to investors that can meet a certain minimum amount of money to invest. The minimum initial investment for residents in any province or territory in accordance with applicable securities laws is set out below:

All provinces and territories $150,000 or $5,000(1)
BC, NB, NS and NL Only: $5,000(2)

Notes:

(1) A minimum purchase of $5,000 is available to residents who meet certain requirements.
(2) A minimum purchase of $5,000 is available to residents who meet certain requirements and reside in BC, NB, NS and NL by way of the prescribed OM.
Investors should contact their investment dealer or Financial Advisor for more information.

If you can comfortably invest the minimum dollar amount required in your province or territory, please accept the disclaimer below to learn more about the Aston Hill Opportunities Fund.


Disclaimer: Information pertaining to Aston Hill Opportunities Fund is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units in the Aston Hill Opportunities Fund is made pursuant to its offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility requirements. Please read the offering memorandum carefully before investing.

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