Aston Expands Hybrid Wholesaler Model and Adds to Internal Sales Desk
CHICAGO, Jan. 9, 2012 /PRNewswire/ -- Aston Asset Management, LP (Aston) is pleased to announce that it will expand its hybrid wholesaler program and add two internal sales desk positions. The moves are designed to increase the distribution capabilities and reach of its sales team. The hybrid wholesalers will focus on smaller mutual funds in the Aston Fund family, generally those with track records that have just reached three years. The additions to the internal sales desk team will provide support to the existing sales force covering registered investment advisers (RIAs), broker-dealers, due diligence teams, family offices and consultants.
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"We have seen tremendous growth in assets over the last three years, and our 2011 net sales of nearly $1.5 billion places us in the top fifty of all fund companies(1)," said Stuart D. Bilton, Chairman and Chief Executive Officer of Aston. "The Aston Fund family has expanded to twenty-six mutual funds representing a diversified mix of equities, fixed income, alternative and international funds. We are confident that our enhanced sales distribution plan will help to grow our business at a healthy, measured pace."
"The new sales positions will allow Aston to foster the smaller funds in addition to concentrating on the distribution of our well-established funds," said Joseph Hays, Partner and National Sales Manager of Aston. "For many fund companies, sales are primarily driven by three or four funds; we are taking a broad-based approach of allocating resources across all of our mutual funds."
Over the last year Aston has added several new mutual funds to its roster. The ASTON/River Road Independent Value Fund (ARIVX, ARVIX) was launched on December 31, 2010 with subadviser River Road Asset Management (River Road) and seasoned portfolio manager Eric Cinnamond. The Fund raised over $500 million in assets and announced a soft close on December 8, 2011. The ASTON/River Road Long-Short Fund (ARLSX) was opened on May 4, 2011, also with subadviser River Road. The ASTON/DoubleLine Core Plus Fixed Income Fund (ADBLX, ADLIX) led by portfolio manager Jeffrey Gundlach of DoubleLine Capital LP (DoubleLine) was launched on July 18, 2011. DoubleLine considers the fund's investment strategy to be the highest risk/reward fixed income strategy they employ. Finally, the ASTON/Silvercrest Small Cap Fund (ASCTX, ACRTX) was opened with Silvercrest Asset Management Group (Silvercrest) on December 27, 2011.
To request more information contact Tony Kono at (973) 850-7323 or [email protected]
Aston Asset Management, LP
Headquartered in Chicago, Illinois, Aston provides investment management services to the mutual fund and managed accounts markets by carefully selecting, monitoring and marketing experienced boutique investment managers, who seek to achieve consistent investment performance using disciplined investment processes and best in class business standards. From the initial due diligence on an investment manager to the launching of a new Aston Fund, we take measured steps to ensure congruence between the requirements of Aston, the capabilities of the subadviser and the needs of clients. As of December 31, 2011, Aston is the adviser to twenty-six mutual funds with total net assets of approximately $9.5 billion. Our funds are distributed nationally through intermediaries including registered investment advisors, model platforms, broker-dealers, consultants, retirement platforms and wealth management teams.
1. Net sales for the eleven months ended 11/30/2011 – Morningstar US Open-end Stock Funds ex Money Market Funds and ex Fund of Funds.
Risk Disclosure: The ASTON/River Road Independent Value Fund - Small and mid-cap stocks are considered riskier than large-cap stocks due to greater potential volatility and less liquidity. Value investing often involves buying the stocks of companies that are currently out of favor that may decline further.
The ASTON/River Road Long-Short Fund - Short sales may involve the risk that the fund will incur a loss by subsequently buying a security at a higher price than the price at which the fund previously sold the security short. A loss incurred on a short sale results from increases in the value of the security; losses on a short sale are theoretically unlimited. Investing in exchange traded and closed end funds are subject to additional risk that shares of the underlying fund may trade at a premium or discount to their net asset value per share. Convertible preferred securities are subject to the risks of equity securities and fixed income securities. Derivatives can be highly volatile and involve risk in addition to the risk of the underlying reference security. Investing in the securities of foreign issuers involves special risks and considerations not typically associated with investing in U.S. companies.
The ASTON/DoubleLine Core Plus Fixed Income Fund- Bond funds are subject to interest-rate and credit risk similar to individual bonds. As interest rates rise or credit quality suffers, an investor is susceptible to loss of principal.
The ASTON/Silvercrest Small Cap Fund - Small and mid-cap stocks are considered riskier than large-cap stocks due to greater potential volatility and less liquidity. Value investing often involves buying the stocks of companies that are currently out of favor that may decline further. Securities of REITs may be affected by changes in the value of their underlying properties and by defaults by borrowers or tenants.
Investors should consider the investment objectives, risks, charges and expenses of the Aston Funds carefully before investing. Please call 800 597-9704 for a preliminary prospectus which contains this and other information about the Fund. Read it carefully before you invest or send money.
Aston Funds are distributed by BNY Mellon Distributors Inc.
Contact: Tony Kono
JCPR
(973) 850-7323
[email protected]
SOURCE Aston Asset Management, LP
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