Aston Funds Cross $10 Billion Threshold for Assets Under Management - Reaches Milestone in Only Five Years
CHICAGO – January 23, 2012 – Aston Asset Management, LP (Aston) has announced that its mutual fund assets under management exceeded $10 billion, as of the close of business on January 19, 2012. Aston surpassed the $10 billion mark shortly after celebrating its five-year anniversary. In 2011, Aston’s net sales ranked in the top fifty of all fund companies.1
“We are pleased with what we have achieved in a relatively short period of time,” said Stuart D. Bilton, Chairman and Chief Executive Officer of Aston. “Our commitment to carefully selecting experienced investment managers with disciplined investment processes, and placing our clients’ interests first, has carried our shareholders and firm through the tough markets of the past five years. We anticipate that these core values will allow Aston to continue to prosper for many years to come.”
Aston was established in December 2006 with the goal of offering investors high quality institutional managers in a mutual fund format. The history of Aston’s management team extends back to 1993, when Mr. Bilton founded the Chicago Trust Funds and hired Kenneth C. Anderson, now the Company’s President, as the firm’s first employee. Aston currently employs 37 people, advises 26 funds and partners with 18 subadvisers.
Aston’s growth was fueled by its key strategy of forming partnerships with independent money managers. Aston nurtures these relationships by co-branding funds, working closely with the money managers to achieve strategic goals and distributing funds through extensive national networks of investment consultants, registered investment advisors, broker-dealers, model and retirement platforms, and wealth management teams.
“Aston could not have achieved $10 billion in assets under management without the hard work and strong commitment from every member of the Aston team, as well as the trust we have earned from our clients,” said Mr. Anderson. “While we are very pleased to have reached this milestone, we are not content to simply rest on our laurels. We will continue to diligently execute our strategy, working closely with our subadvisers to help our clients reach their investing goals.”
Aston has added several new mutual funds to its roster in the last year. The ASTON/River Road Long-Short Fund (ARLSX) was opened on May 4, 2011, with subadviser River Road Asset Management. 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, and is offered exclusively through Aston Funds. Finally, the ASTON/Silvercrest Small Cap Fund (ASCTX, ACRTX) was opened with subadviser Silvercrest Asset Management Group (Silvercrest) on December 27, 2011.
In addition to the above, Aston’s full line-up of mutual funds include:
|· ASTON/Montag & Caldwell Growth Fund||· ASTON/River Road Independent Value Fund|
|· ASTON/TAMRO Diversified Equity Fund||· ASTON/Veredus Select Value Fund|
|· ASTON/Herndon Large Cap Value Fund||· ASTON/Veredus Aggressive Growth Fund|
|· ASTON/Cornerstone Large Cap Value Fund||· ASTON/Lake Partners LASSO Alternatives Fund|
|· ASTON/River Road Dividend All Cap Value Fund||· ASTON Dynamic Equity Fund|
|· ASTON/Montag & Caldwell Mid Cap Growth Fund||· ASTON/MD Sass Enhanced Equity Fund|
|· ASTON/Fairpointe Mid Cap Fund||· ASTON/Neptune International Fund|
|· ASTON/ Cardinal Mid Cap Value Fund||· ASTON/Barings International Fund|
|· ASTON/Crosswind Small Cap Growth Fund||· ASTON/Harrison Street Real Estate Fund|
|· ASTON/TAMRO Small Cap Fund||· ASTON/Montag & Caldwell Balanced Fund|
|· ASTON/River Road Select Value Fund||· ASTON/TCH Fixed Income Fund|
|· ASTON/River Road Small Cap Value Fund|
To request more information, please contact Tony Kono at 973-850-7323 or moc.cnirpcj@onokt.
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.
1Morningstar Universe, US Open-end Stock Funds ex Money Market Funds and ex Fund of Funds, one year period ending November 30, 2011.
Risk Disclosure: 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.