Aston Adds New Long-Short Fund Managed by River Road Asset Management

CHICAGO, May 5, 2011 /PRNewswire/ -- Aston Asset Management, LP (Aston) is pleased to announce the addition of a new mutual fund to its family of funds, the ASTON/River Road Long-Short Fund (Ticker: ARLSX). The Fund opened to investors on May 4, 2011.

Aston will act as the investment adviser to the new Fund, while River Road Asset Management (River Road) will act as subadviser, responsible for the day-to-day management of the Fund. River Road is an institutional asset management firm based in Louisville, KY, specializing in value-oriented equity investment management.

"River Road is well known for delivering value-driven long only equity strategies that employ a bottom-up approach to seeking undervalued securities," said Stuart D. Bilton, Chairman and Chief Executive Officer of Aston. "This new Fund extends River Road's expertise to identifying overvalued securities. We have enjoyed a long and successful relationship with River Road and are very pleased to be partnering with them on the ASTON/River Road Long-Short Fund."  

The objective of the Fund seeks to provide absolute returns while minimizing volatility over a full market cycle by taking long and short positions in equity securities. Equity investments will consist primarily of domestic common stock but may also include foreign stock, preferred stock, convertible securities and REITs. Instruments such as exchange traded funds, options, futures and other index-based investments may be used to manage its exposure between long and short positions. Cash balances may be significant.

The Fund will be managed by Matthew W. Moran, Portfolio Manager at River Road, and Greg E. Deuser, Vice President, Portfolio Manager and Director of Research at River Road.

"We are very pleased to offer our long-short strategy to Aston investors and look forward to delivering the disciplined investment process that River Road is known for," said R. Andrew Beck, President and co-founder of River Road.  "River Road's investment philosophy is based upon an absolute value approach focused on providing attractive, sustainable returns over the long-term.  We seek to emphasize positive return consistency while minimizing downside portfolio risk."

To request more information please contact Tony Kono at 973-850-7323 or [email protected].

Aston Asset Management, LP

Aston Asset Management, LP, headquartered in Chicago, Illinois, is a diversified institutional investment management firm. Aston offers investment management services to the mutual fund and separately managed account markets. Aston is the advisor to twenty-four mutual funds with total net assets of approximately $9.5 billion as of April 30, 2011.  For more information on the funds managed by Aston please call 800-597-9704.

Note: 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. Value investing often involves buying the stocks of companies that are currently out of favor that may decline further. 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. Exposures to real estate markets include declines from deteriorating economic conditions, changes in the value of the underlying property, and defaults by borrowers. Investing in foreign markets also entails the risk of social and political instability, market illiquidity, and currency volatility.

Investors should consider the investment objectives, risks, charges and expenses of the ASTON/River Road Long-Short Fund carefully before investing. Please call 800 597-9704 for a 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