/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
MONTREAL and TORONTO, May 12, 2017 /CNW Telbec/ - Fiera Capital Corporation (the "Manager"), the manager of North American REIT Income Fund (the "Fund") (TSX: NRF.UN), confirmed today, that as previously announced, the Fund will be closed on or about May 29, 2017 (the "Termination Date").
As set out in the Fund's declaration of trust, the Fund does not have a fixed termination date but the Manager may terminate the Fund without the approval of unitholders if the Manager believes it is no longer economically practical to continue the Fund or that it would be in the best interests of the Fund. Given the current size of the Fund and its related expenses and the upcoming annual redemption date, the Manager has determined that it is in the best interest of the Fund's unitholders to terminate the Fund prior to the annual redemption date. Following the satisfaction of, or provision for, all liabilities of the Fund, the net assets of the Fund will be distributed to the unitholders of the Fund on a pro rata basis and the Fund will be terminated.
It is expected that the units of the Fund will be delisted from the TSX on or about May 23, 2017. Due to the Termination Date occurring prior to the annual redemption date, there will be no annual redemption for the Fund in 2017 as all units will be redeemed on the Termination Date.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with more than CAD$122 billion in assets under management as at March 31, 2017. 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, Bel Air Investment Advisors LLC and Fiera Capital Inc., investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC). Further, Charlemagne Capital (UK) Limited and Charlemagne Capital (IOM) Limited are both registered as investment advisers with the SEC. Charlemagne Capital (UK) Limited is authorized and regulated by the Financial Conduct Authority in the United Kingdom, and Charlemagne Capital (IOM) Limited is licenced by the Isle of Man Financial Services Authority. 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: Roland Sakha, Vice President, Strategic Investment Partnerships, Fiera Capital Corporation, 514 954-6575, [email protected]