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TORONTO, Sept. 29, 2014 /CNW Telbec/ - Propel Capital Corporation ("Propel"), as manager of the Strategic Income Allocation Fund (the "SIA Fund") and the SIA Trust (together with the SIA Fund, the "Funds") announced today that the portfolio management agreements of the Funds
(the "Aston Hill Agreements") with Aston Hill Management Inc. ("Aston Hill") will be terminated following the expiry of the required notice period
to Aston Hill.
Upon the expiry of the notice period and termination of the Aston Hill
Agreements, which is expected to occur prior to November 30, 2014, the
portfolio management and advisory services of the Funds will be assumed
by Fiera Capital Corporation ("Fiera"), the sole shareholder of Propel, pursuant to new portfolio management
agreements on terms and conditions substantially similar to those
contained in the Aston Hill Agreements.
The decision to terminate the Aston Hill Agreements and internalize the
portfolio management and advisory services of the Funds was made
following the determination by the Fund's Independent Review Committee
that Fiera has the knowledge, experience and resources to provide the
portfolio management and advisory services to the Funds which are
currently being provided by Aston Hill.
About Propel Capital Corporation
Propel develops, manages and distributes innovative investment solutions
for Canadians through various TSX-listed and managed Funds. www.propelcapital.ca.
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent
investment firm, with more than $82 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 Canadian and foreign equity and fixed income management as
well as depth and expertise in asset allocation and non-traditional
Additional information relating to Fiera, including Fiera's annual
information form, is on SEDAR at www.sedar.com.
This press release may contain forward-looking statements and
information within the meaning of applicable securities legislation. In
some cases, forward-looking statements can be identified by the
expressions "seek", "expect", "believe", "estimate", "will", "target",
"may", "should", "plan", "anticipate", "predict", "potential",
"continue", "intend" or the negative of these terms, or other
comparable terminology. The forward-looking statements are not
historical facts but reflect the current expectations of Propel and the
portfolio managers of the underlying portfolios regarding future
results and events and are based on information currently available to
them. Certain material factors and assumptions were applied in
providing these forward-looking statements. All forward-looking
statements in this press release are qualified by these cautionary
statements. Propel believes that the expectations reflected in
forward-looking statements are based upon reasonable assumptions;
however. Propel can give no assurance that the actual results or
developments will be realized. These forward-looking statements are
subject to a number of risks and uncertainties that could cause actual
results or events to differ materially from current expectations.
Readers, therefore, should not place undue reliance on any such
forward-looking statements. Further, a forward-looking statement speaks
only as of the date on which such statement is made. Propel undertakes
no obligation to publicly update any such statement or to reflect new
information or the occurrence of future events or circumstances except
as required by securities laws. These forward-looking statements are
made as of the date of this press release.
SOURCE: Propel Capital
For further information:
Senior Vice President
Mélanie Tardif, CPA, CMA
Director, Corporate Communications and Investor Relations