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MONTREAL, Aug. 31, 2018 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Firm"), a leading independent asset management firm, today announced that it has agreed on the terms and conditions of a renewal until June 30, 2022 of the assets under management agreement with National Bank of Canada and Natcan Investment Management Inc., a wholly-owned subsidiary of National Bank of Canada, dated April 2, 2012 (the "AUM Agreement").
Under the terms of the renewed AUM Agreement, National Bank of Canada will be required to maintain certain thresholds of a specified minimum assets under management ratio ("AUM Ratio") in respect of each year of the renewal term, failing which it will be required to pay certain amounts to Fiera Capital.
"Fiera Capital is pleased to entertain a long-standing relationship with National Bank of Canada. Over the years, Fiera Capital has exceeded its performance conditions under the AUM Agreement," said Vincent Duhamel, Global President and Chief Operating Officer of Fiera Capital. "We are proud to manage a large number of strategies on National Bank of Canada's behalf and to continue to work with them on a number of potential new opportunities."
The AUM Ratio is calculated by reference to: (i) the aggregate market value of the assets under management ("AUM") managed by Fiera Capital under investment management agreements with National Bank of Canada and its subsidiaries, together with the aggregate AUM held by clients of National Bank of Canada and its subsidiaries in investment products managed by Fiera Capital; and (ii) the aggregate market value of certain specified categories of investment assets under the control or direction of National Bank of Canada and its subsidiaries. The AUM Ratio for each year of the renewal term is not subject to Fiera Capital meeting any performance condition.
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", "opportunity", "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 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 asset management firm with approximately C$139.4 billion in assets under management as of June 30, 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.
SOURCE Fiera Capital Corporation
For further information: Daniel Richard, Senior Vice-President, Global Human Resources and Corporate Communications, Fiera Capital Corporation, 514-954-6456, email@example.com