Fiera Capital plans to offset AUM loss, aiming for steady financial performance through 2025
Fiera Capital Corporation has announced that on November 7, it received notice of termination of its sub-advisory agreement with Canoe Financial LP.
This agreement covered funds sub-advised by Fiera Capital and PineStone Asset Management Inc. The termination, which will result in the transfer of assets under management (AUM) to PineStone, is set to take effect on January 10, 2025.
The funds under Canoe’s management that Fiera Capital sub-advises under this agreement represented approximately $5.5bn in AUM within the Company's Public Markets platform as of September 30.
Fiera Capital is advancing its organic growth strategy and anticipates mitigating the reduction in AUM while aiming to sustain financial performance throughout 2025.
