Aston Funds

Aston/New Century Absolute Return ETF Fund - N Class (ANENX)

Fund Profile Fact Sheet PDF

Overview

Investment Strategy

The Aston/New Century Absolute Return ETF Fund is structured as a fund-of-funds, which invests principally in other investment companies. The Fund seeks to provide positive total return.

Objective

Under normal circumstances, the Fund invests at least 80% of its assets in shares of exchange-traded funds ("ETFs"). An ETF is an investment company that seeks to track the performance of an index (before fees and expenses) by holding in its portfolio either the securities that comprise the index or a representative sample of the securities in the index. ETFs offer investment in a wide variety of asset classes, including: large-cap, mid-cap, smallcap, equity, international, commodities, real estate, fixed income, derivatives and currency. ETFs may also offer inverse (or short) exposure to a particular asset class. As new ETF products become available, the asset classes available to the Fund will expand. After determining the eligible universe, candidates for the portfolio are analyzed daily for buy and sell signals using a quantitative model (the Systematic Entry and Exit Strategy or "SEE Strategy").

Although the Fund normally expects to hold ETFs representing a range of asset classes and investment styles, allocations among asset classes and styles are a residual of the investment process. In some circumstances, the Fund may hold ETFs representing a limited number of asset classes or investment styles. The SEE Strategy seeks to identify ETFs with high probability of producing positive returns over an extended period of time within certain risk constraints. During periods in which sufficient opportunities are not identified to fully invest the portfolio, residual assets will be held in cash or cash equivalents.

Fund Overview
Inception Date	3/4/2008
Ticker	ANENX
Cusip	00080Y744
Load	None

Fund Statistics (as of 3/31/2008)

Total Net Assets

$1,105,586.06

Expense Ratio

1.67%

Sector Breakdown (as of 3/31/2008)

Sector Breakdown (as of 3/31/2008)

For the Aston/New Century Absolute Return ETF Fund: Sector Breakdown percentages are based on the portfolio as of 3/31/08. Please click here for New Century's Sector Breakdown.

Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions, so that shares, when redeemed, may be worth more or less than their original cost.

ETF Risk: The Fund invests in ETFs (Exchange Traded Funds) which are securities of other investment companies. An ETF seeks to track the performance of an index by holding all or a representative sampling of the securities that represent an index. An ETF may not be able to replicate an index exactly since returns may be reduced by transaction costs, expenses and other factors while the index has none. Investing in the Fund may result in higher costs than if investing directly in ETFs or mutual funds that invest directly in stocks and bonds.

Small and Mid-Cap Company Risk: Investing in ETFs that own securities of small and mid-cap companies may involve greater risks than investing in securities of larger, more established issuers.

Emerging Market Risk: The Fund may invest in ETFs that invest in issuers located in emerging markets - countries that may have relatively unstable governments, less diverse economies and less liquid securities.