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Aston launches fund managed by Herndon Capital

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Aston Asset Management has added a mutual fund to its family of funds, the Aston/Herndon Large Cap Value Fund.

The fund opened to new investors on 31 March 2010. 

Aston Asset Management will act as the investment adviser to the new fund, while Herndon Capital Management (formerly known as Atlanta Life Investment Advisors) will act as sub-adviser.

The fund invests at least 80 per cent of its assets in the securities of large-cap companies that the portfolio managers believe to be undervalued relative to their perceived worth. Large-cap companies are defined as companies with a market capitalisation, at the time of acquisition, within the range of market capitalisations of companies constituting the Russell 1000 Index.

"Herndon Capital has a wonderful reputation and extensive experience in managing large cap equity portfolios, and we are very pleased to be opening this new fund with them," says Kenneth C. Anderson, president of Aston.

The fund will be managed by Randell A. Cain, principal and portfolio manager at Herndon Capital, and Kenneth R. Holley, principal, chief investment officer and portfolio manager at Herndon Capital.

"We are delighted to be partnering with Aston for the Aston/Herndon Large Cap Value Fund," says Cain. "Our independence from Wall Street combined with our mix of intellectual capital refined through years of experience, gives us a unique advantage in seeking value opportunities."

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