Aston Hill Advantage VIP Income Fund (the Fund) is a closed-end investment trust. The Fund's investment objectives are to provide unitholders with high, monthly, tax-advantaged cash distributions and low management fees, together with the opportunity for capital appreciation, based on the performance of the portfolio of Aston Hill AVIP Trust (AVIP Trust). AVIP Trust seeks to achieve its investment objectives through active asset and sector allocation and by investing in those incomes producing securities. AVIP Trust has exposure to a diversified portfolio of income producing securities, including income trusts, dividend paying common shares, convertible debt, preferred shares and investment grade fixed income investments. AVIP Trust may invest in high yield debt and special situations, being foreign equities and non-dividend paying equities. The Fund is managed by Aston Hill Asset Management Inc. (the Manager).