A soft close in on the horizon for Aston Asset Management's Aston/River Road Independent Value Fund. The fund had AUM of $469 million as of November 16.

"We've had tremendous amount of success with regard to the fund," said Aston president Ken Anderson in an interview with The MFWire.com on Monday. A soft close could happen "fairly soon," he added.

According to an SEC filing last Friday, the fund "expects that it will implement a "Soft Close" if the net assets of the Fund reach a certain level (the "Soft Close Level") in combination with other assets managed in the same investment strategy by the Fund's subadviser, River Road Asset Management, LLC ("River Road"). Currently, the Fund expects its Soft Close Level to be between $500 million and $600 million in net assets."

Meanwhile, Chicago-based Aston is gearing up for a product launch. The firm plans to roll out the Aston/Silvercrest Small Cap Fund next month, Anderson said.

This would mark the first time that Aston will be using Silvercrest Asset Management as a sub-adviser. The launch would bring the number of Aston's sub-advisors to 18 and its long-term mutual fund tally to 26.  

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