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MONTREAL AND TORONTO, Sept. 30, 2014 /CNW Telbec/ - September 30, 2014 - Fiera Capital Corporation ("Fiera") (TSX: FSZ), announced today that it has completed the wind up of Propel Capital Corporation ("Propel") into Fiera, which it acquired on September 2, 2014. As a result, the management agreements ("Management Agreements") between Propel and each of the Canadian Convertibles Plus Fund, Canadian High Yield Focus Fund, CHYF Trust, Diversified Convertibles Fund, North American Preferred Share Fund, North American REIT Income Fund, Senior Secured Floating Rate Loan Fund, SIA Trust and Strategic Income Allocation Fund (collectively with the aforementioned funds, the "Funds") have been assigned to Fiera. The Management Agreements will continue in full force and effect as originally constituted, except that Fiera will assume all of Propel's rights, obligations and duties under each Management Agreement. However, as previously announced, the accomplished managers including Raj Lala, Krista Matheson and Keith H. Crone, have joined Fiera's team of experienced investment professionals. These managers will continue to be responsible for the daily activities of the Funds and will be responsible for creating additional closed end funds in the future in order to provide investors with new and innovative investment opportunities.
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 Fiera 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. Fiera believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however. Fiera 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. Fiera 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.
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 investments. www.fieracapital.com
Additional information relating to Fiera, including Fiera's annual information form, is on SEDAR at www.sedar.com.
SOURCE: Fiera Capital Corporation
For further information:
Mélanie Tardif, CPA, CMA
Director, Corporate Communications and Investor Relations