Emerging Markets business previously acquired from City National Rochdale complements Fiera Capital's existing investment capabilities and broadens macro-regional and fundamental research
NEW YORK, June 4, 2018 /CNW Telbec/ - Fiera Capital Inc. ("Fiera Capital" or the "Firm"), an affiliate of Fiera Capital Corporation (TSX: FSZ), a leading independent asset management firm with approximately $100 billion under management, today announced that the City National Rochdale Emerging Markets Fund (the "Fund") is now offered as the Fiera Capital Emerging Markets Fund.
The Emerging Markets Fund is a Morningstar overall 5-star rated fund based on risk adjusted returns out of 664 Diversified Emerging Markets funds as of April 30, 2018. The investment team continues to be led by Anindya Chatterjee, Senior Vice President and Senior Portfolio Manager, and the objective, process and risks of the Fund are unchanged.
The Fund seeks long-term capital appreciation by investing in quality companies in emerging markets. The Fund's opportunistic process seeks to capitalize on underlying regional macro trends and global macro dynamics, which combined with fundamental bottom-up security selection may result in more concentrated regional investments. This investment process has resulted in the Fund's current portfolio consisting primarily of Asian companies.
"The Emerging Markets Fund complements our emerging markets strategy, nicely augmenting our macro-regional offerings," said Benjamin Thompson, Chief Executive Officer of Fiera Capital's U.S. division. "With the addition of this Morningstar 5-Star rated Fund managed by a well regarded investment team, we strengthen our expertise in emerging markets, an area in which we believe we will continue to see strong client demand."
"Working with the Fiera Capital team since the announcement of this transaction in December 2017 has enhanced our confidence that this partnership marks an exciting milestone in the Fund's development. Our clients can rely on the continuity of our investment team and investment process coupled with Fiera Capital's strong distribution platform," added Anindya Chatterjee.
The tickers for the institutional share class (CNRYX) and investor share class (RIMIX) will not change. The Fund currently has $1.7 billion in assets under management.
© 2018 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange traded funds, closed‐end funds, and separate accounts) with at least a three-year history. Exchange‐traded funds and open‐ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. As of 4/30/18 City National Rochdale Emerging Markets Fund Class N and Class Y were rated against 664 Diversified Emerging Markets funds over a three-year period and 476 over a five-year period, and received 4 stars for the three-year period, 5 stars for the five-year period and an overall rating of 5 stars. Past performance is no guarantee of future results.
Mutual fund investing involves risk. Principal loss is possible. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings or geographical areas than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. The fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested.
For additional information on these and other risks, please click here to read the prospectus.
The Fiera Capital Emerging Markets Fund is distributed by Foreside Fund Services, LLC. Fiera Capital Inc. is the investment adviser to the Fiera Capital Emerging Markets Fund.
Consider the objectives, risks, and charges carefully before investing; the prospectus contains this and other information about the investment company; the prospectus should be read carefully before investing.
About Fiera Capital Inc.
Fiera Capital Inc. is an affiliate of Fiera Capital Corporation. Fiera Capital Inc. offers thoughtful investment solutions in the US for high net worth individuals and institutions across a spectrum of traditional, non-traditional, and bespoke investment strategies. Its mission is to provide clients with the highest quality of customized service and performance through a culture of integrity, teamwork, excellence, and innovation. us.fieracapital.com.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with approximately $100 billion in assets under management as of March 31, 2018. The Firm provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Clients and their portfolios derive benefit from Fiera Capital's depth of expertise, diversified offerings and outstanding service. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
In the U.S., asset management services are provided by the Firm's U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training.
Additional information about Fiera Capital Corporation, including the Firm's annual information form, is available on SEDAR at www.sedar.com.
This document may contain certain forward-looking statements. These statements relate to future events or future performance, and reflect management's expectations or beliefs regarding future events, including business and economic conditions and Fiera Capital's growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend" or the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement.
These factors include, but are not limited to, market and general economic conditions, the nature of the financial services industry, and the risks and uncertainties detailed from time to time in Fiera Capital's interim and annual consolidated financial statements, and its Annual Report and Annual Information Form filed on www.sedar.com. These forward-looking statements are made as of the date of this document, and Fiera Capital assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable law.
SOURCE Fiera Capital Corporation