MONTREAL, March 26, 2013 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) (Fiera), as investment fund manager of the Fiera Tactical Bond Yield Fund has received the 2013 Federal Budget provisions with respect to character conversion transactions published on March 21, 2013.
The Federal Budget proposes new rules that would treat the gain realized on close-out of any derivative forward agreement as ordinary income rather than capital gain for forward agreements entered into after March 21, 2013.
The proposed changes are being reviewed to determine what impact, if any, they will have on the Fiera Tactical Bond Yield Fund, which uses forward agreement as part of its investment strategy to create a tax efficient distribution for its unitholders. As details are limited at this point, Fiera will await further guidance from the Federal Government on how these new changes will be implemented and make further announcements as necessary.
About Fiera Capital Corporation
Fiera is a leading publicly traded, independent investment firm with approximately $65 billion in assets under management. Fiera is one of only a handful of full service, multi-product investment firms in Canada, offering clients a proven top tier track record in equity and fixed income management as well as depth and expertise in asset allocation and alternative investments. For more information, visit www.fieracapital.com.
Additional information relating to the Fiera Tactical Bond Yield Fund and Fiera is available on SEDAR at www.sedar.com.
SOURCE: FIERA CAPITAL CORPORATION