CHICAGO, April 25, 2011 /PRNewswire/ -- Aston Asset Management, LP (Aston) is pleased to announce that the ASTON/River Road Independent Value Fund (ARIVX) has exceeded $50 million in assets under management. As of March 31, 2011, the total year-to-date return for the N-Class Fund was 7.22% versus 6.60% for the Russell 2000 Value Index. River Road, subadviser to the Fund, is an institutional asset management firm based in Louisville, Ky., specializing in value-oriented equity investments.

"We are delighted with the response to our ASTON/River Road Independent Value Fund, which has been among our fastest-growing funds since its launch on December 31, 2010," said Stuart D. Bilton, Chairman and Chief Executive Officer of Aston. "Aston's mission is to bring exceptional investment managers, like River Road, to mutual fund investors. We knew that River Road's portfolio manager, Eric Cinnamond, had a following in the investment community and the early success of the Fund confirms that opinion. Our relationship with River Road is well-established and growing; this Fund marks our fourth successful fund launch."

The ASTON/River Road Independent Value Fund's investment objective seeks to provide long-term total return and invests in common stocks and other equity securities of smaller-cap companies that the portfolio manager believes are undervalued. The Fund will be adding an I-Class that is expected to be available in June 2011, subject to approval by the SEC.  

"River Road uses a disciplined, research driven process to identify high quality, smaller cap companies trading at an attractive discount," said Eric Cinnamond, the Fund's portfolio manager and River Road Vice President and Portfolio Manager. "We are very pleased with the Fund's progress to date and look forward to its continued growth."

Aston is the investment advisor to the Fund, while River Road is the subadviser responsible for the Funds' day-to-day management.

To request more information contact Tony Kono at 973-732-3521 or tony@jcprinc.com.

About 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 $9.2 billion as of March 31, 2011.  For more information on the funds managed by Aston please call 800-597-9704 or visit www.astonfunds.com.

About River Road Asset Management, LLC

River Road Asset Management, LLC is an institutional asset management firm based in Louisville, KY. The firm specializes in value-oriented equity investment management. With $4 billion in assets, as of December 31, 2010, River Road provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. River Road's strategies are available to retail investors through four mutual funds in the Aston Funds family. River Road is an Aviva Investors company.

Note: 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.

As of March 31, 2011, the year-to-date and inception return for the ASTON/River Road Independent Value Fund Class-N was 7.22% and 6.90%, respectfully.  The return for the Russell 2000 Value Index was 6.60%.  The Fund's Gross Expense Ratio is 2.15% and the Net Expense Ratio is 1.42%.  The adviser is contractually obligated to waive management fees and/or reimburse ordinary operating expenses through February 28, 2012.  Date of inception was December 31, 2010.

The performance data quoted represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares, upon redemption, may be worth more or less than their original cost. Some of the returns quoted reflect fee waivers or expense reimbursements.  Returns for certain periods would have been lower without the waivers/reimbursements. Current performance may be lower or higher than the performance data quoted. For performance data current to the most recent month-end, please visit our website at www.astonfunds.com.

The information contained in this press release and in the preliminary prospectus is not complete and may be changed.  A post-effective amendment to the registration statement with respect to the securities of the Aston/River Road Independent Value Fund I-Class has been filed with the Securities and Exchange Commission but is not yet effective.   No securities of the Fund's I-Class may be sold until the post-effective amendment with respect to the securities is effective.  This press release or the preliminary prospectus is not an offer to sell these securities and is not a solicitation of an offer to buy these securities in any jurisdiction in where the offer or sale is not permitted.

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please call 800 992-8151 for a prospectus containing this and other information. Read it carefully before investing.  Aston Funds are distributed by BNY Mellon Distributors Inc.

Contact:  
Tony Kono
JCPR
973-732-3521
Tony@jcprinc.com

SOURCE Aston Asset Management, LP