Advantaged Canadian High Yield Bond Fund Declares Distributions

TORONTO, March 21, 2016 /CNW/ - The Board of Directors of CHY Management Ltd., as general partner of CHY Management LP, Trustee for the Advantaged Canadian High Yield Bond Fund, (the "Fund") has declared cash distributions of $0.16875 per Class A Unit and $0.185 per Class F Unit payable on April 15, 2016 to holders of record at the close of business on March 30, 2016.

The Fund is an investment fund whose investment portfolio consists of a diversified portfolio of Canadian high yield fixed income securities actively managed by High Rock Capital Management Inc. The Fund previously announced that as a result of changes to the Income Tax Act (Canada), the Fund's forward agreement will be settled on March 31, 2016 (the "Forward Date"). Following this, the Fund will invest directly in securities of the kind that are held by CHY Fund, the reference fund of the Fund. After the Forward Date, distributions made by the Fund will no longer have the same tax-advantaged nature. For distributions declared after the Forward Date, the Fund is proposing to initially set its targeted distributions at $0.46 per Class A unit and $0.52 per Class F unit, per annum.  Following the Forward Date, distributions paid by the Fund are no longer expected to be characterized primarily as capital gains or returns of capital and instead all or a portion of the distributions will be characterized as ordinary income, although the Fund may still distribute capital gains or returns of capital in the future.

The Class A Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol AHY.UN.

SOURCE Advantaged Canadian High Yield Bond Fund

Investor Relations: Advantaged Canadian High Yield Bond Fund, Tel: [phone], Web site: www.scotiamanagedcompanies.com, Email: [email protected], 26th Floor, 40 King Street West, Toronto, Ontario M5W 2X6, Tel: [phone], Fax: [phone]