As of April 28, 2018, Redwood Advantage Monthly Income Fund has been acquired by Purpose Multi-Asset Income Fund. Redwood Advantage Monthly Income Fund is a closed ended balanced fund of funds launched and managed by Aston Hill Asset Management Inc. The fund is co-managed by Manitou Investment Management Ltd. The fund invests in public equity and fixed income markets of Canada and the United States. It seeks to invest in securities of companies operating across diversified sectors. The fund primarily invests in a forward agreement whose value is based on the performance of Aston Hill AVIP Trust, which in turn invests in investment grade and high-yield bonds, dividend paying stocks of companies, convertible debt, and income trusts. It employs fundamental analysis with a bottom-up stock selection approach and detailed in-house credit analysis of fixed income investments, focusing on factors such as high quality securities, liquidity, capital preservation, and broad diversification to create its portfolio. The fund seeks to benchmarks the performance of its portfolio against the composite benchmark comprising of S&P/TSX Capped Income Trust Index and S&P/TSX Composite Index. It was formerly known as Aston Hill Advantage VIP Income Fund. Redwood Advantage Monthly Income Fund was formed on January 27, 2006 and is domiciled in Canada.