Fiera Capital Corporation and Fiera Investments LP Close the Sale of the Retail Mutual Funds to Canoe Financial LP

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

MONTREAL, June 26, 2020 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Company") and its wholly-owned subsidiary, Fiera Investments LP ("Fiera Investments") announced today that they have completed the closing of the previously announced transaction whereby Canoe Financial LP ("Canoe"), a Canadian mutual fund company, has acquired the rights to manage all of the Fiera Investments' retail mutual fund listed below ("Mutual Funds"):

  • The "Trust Funds", consisting of the following funds:
    • Fiera Canadian Bond Fund
    • Loomis Sayles Global Diversified Corporate Bond Fund
    • Loomis Sayles Strategic Monthly Income Fund
    • Fiera Strategic Balanced Registered Fund
    • Fiera Intrinsic Balanced Registered Fund
    • Fiera Canadian Dividend Registered Fund
    • Fiera U.S. Dividend Registered Fund
    • Fiera Core Global Equity Registered Fund
    • Fiera Canadian Preferred Share Registered Fund
    • Oakmark U.S. Equity Registered Fund
    • Oakmark International Equity Registered Fund
  • The "Class Funds" consisting of the following funds:
    • Fiera Canadian Bond Class
    • Loomis Sayles Global Diversified Corporate Bond Class
    • Fiera Strategic Balanced Class
    • Fiera Intrinsic Balanced Class
    • Fiera Canadian Dividend Class
    • Fiera U.S. Dividend Class
    • Fiera Core Global Equity Class
    • Fiera Canadian Preferred Share Class
    • Oakmark U.S. Equity Class
    • Oakmark International Equity Class

Further to the completion of the proposed transaction, Canoe is now acting as trustee of the Trust Funds, as well as manager and portfolio manager of the Mutual Funds, except for the Loomis Sayles Strategic Monthly Income Fund for which Loomis Sayles will continue to act as portfolio manager until completion of the proposed merger of Loomis Sayles Strategic Monthly Income Fund with Canoe Global Income Fund. On or about July 3, 2020, Canoe intends to merge each of the Mutual Funds into the corresponding retail mutual fund managed by Canoe as specified below. As part of the agreement, Canoe has agreed to retain Fiera Capital to act as sub-advisor for certain of the Canoe funds into which the Mutual Funds will be merged. The change of manager and trustee and the proposed mergers have been approved by a majority of the securityholders of the Mutual Funds on June 12, 2020.

Below is a summary of the approved material changes to each of the Mutual Funds:

Name of Mutual Fund  

Approved Material Changes  

Fiera Intrinsic Balanced Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Defensive Global Balanced Fund

Fiera Canadian Bond Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Bond Advantage Portfolio Class, which consists of Canoe Bond Advantage Class and units of Canoe Trust Fund

Loomis Sayles Global

Diversified Corporate Bond Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Global Income Fund

Fiera Canadian Preferred

Share Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Preferred Share Portfolio Class, a new Canoe Portfolio Class Fund consisting of Canoe Preferred Share Class and units of Canoe Trust Fund

Fiera Canadian Dividend

Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Premium Income Fund

Fiera U.S. Dividend

Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Defensive U.S. Equity Portfolio Class, which consists of Canoe Defensive U.S. Equity Class and units of Canoe Trust Fund

Oakmark U.S. Equity

Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Defensive U.S. Equity Portfolio Class, which consists of Canoe Defensive U.S. Equity Class and units of Canoe Trust Fund

Fiera Strategic Balanced

Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe North American Monthly Income Portfolio Class, which consists of Canoe North American Monthly Income Class and units of Canoe Trust Fund

Fiera Core Global Equity

Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Global Equity Fund

Oakmark International Equity

Registered Fund

  • Change of trustee, investment fund manager and portfolio manager
  • Merger into Canoe Defensive International Equity Fund

Loomis Sayles Strategic

Monthly Income Fund

  • Change of trustee and investment fund manager
  • Merger into Canoe Global Income Fund

Fiera Intrinsic Balanced Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Defensive Global Balanced Fund

Fiera Canadian Bond Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Bond Advantage Portfolio Class, which consists of Canoe Bond Advantage Class and units of Canoe Trust Fund

Loomis Sayles Global

Diversified Corporate Bond

Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Global Income Portfolio Class, which consists of Canoe Global Income Class and units of Canoe Trust Fund

Fiera Canadian Preferred

Share Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Preferred Share Portfolio Class, a new Canoe Portfolio Class Fund consisting of Canoe Preferred Share Class and units of Canoe Trust Fund

Fiera Canadian Dividend

Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Premium Income Fund

Fiera U.S. Dividend Class 

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Defensive U.S. Equity Portfolio Class, which consists of Canoe Defensive U.S. Equity Class and units of Canoe Trust Fund

Oakmark U.S. Equity Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Defensive U.S. Equity Portfolio Class, which consists of Canoe Defensive U.S. Equity Class and units of Canoe Trust Fund

Fiera Strategic Balanced

Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe North American Monthly Income Portfolio Class, which consists of Canoe North American Monthly Income Class and units of Canoe Trust Fund

Fiera Core Global Equity

Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Global Equity Fund

Oakmark International Equity

Class

  • Change of investment fund manager and portfolio manager
  • Merger into Canoe Defensive International Equity Fund

Forward-Looking Statements

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 Investments' 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 condensed and annual consolidated financial statements, and its latest Annual Report and Annual Information Form filed on SEDAR at 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.

About Fiera Capital Corporation

Fiera Capital is a leading independent global asset management firm with approximately C$158.1 billion in assets under management as of March 31, 2020. The Company provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Fiera Capital's depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com

Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, with regional hubs in New York (U.S.), London (UK), and Hong Kong.

In the U.S., asset management services are provided by the Company's U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission ("SEC") or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult this webpage.

Additional information about Fiera Capital Corporation, including the Company's annual information form, is available on SEDAR at www.sedar.com.

About Canoe Financial

Canoe Financial is one of Canada's fastest growing independent mutual fund companies managing over $7.4 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has significant national presence across Canada, including offices in Calgary, Toronto and Montreal.

SOURCE Fiera Capital Corporation