TORONTO and MONTREAL, April 28, 2015 /CNW Telbec/ - Fiera Capital Corporation ("Fiera Capital") is pleased to announce that the Real Asset Income and Growth Fund (the "Fund") has filed a final prospectus dated April 27, 2015 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering (the "Offering") of Class A Units and Class U Units (collectively, the "Units") of the Fund at a price of $10.00 per Class A Unit and US$10.00 per Class U Unit. The Class U Units are designated for investors wishing to make their investment in U.S. dollars and will not be listed on an exchange but will be convertible into Class A Units on a monthly basis.
The Offering has a maximum size of $125M ($143.75M if the over-allotment option is exercised in full) and is expected to close on or about May 27, 2015. The Toronto Stock Exchange has conditionally approved the listing of the Class A Units under the symbol RAI.UN.
The Fund's investment objectives are to provide holders of Units with monthly cash distributions and the opportunity for capital appreciation as well as to preserve capital. The Fund has been created to invest on an actively managed basis across the capital structure of global real asset-related issuers. The portfolio of the Fund will be comprised primarily of publicly traded securities of issuers with significant exposure to income producing physical assets in the infrastructure and real estate sectors. The Fund's distributions are initially targeted to be $0.04167 per Class A Unit per month ($0.50 per annum) and US$0.04167 per Class U Unit per month (US$0.50 per annum) to yield 5.0% per annum on the subscription price per Unit.
Fiera Capital is the manager and promoter of the Fund. Fiera Capital has retained Nuveen Asset Management, LLC ("Nuveen") to provide portfolio management services to the Fund. Nuveen has approximately U.S. $130 billion in assets under management as of December 31, 2014, including approximately U.S. $9.3 billion in real assets.
The syndicate of agents for this offering is being led by CIBC and RBC Capital Markets, and includes National Bank Financial Inc., Scotiabank, BMO Capital Markets, TD Securities Inc., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Canaccord Genuity Corp., Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated (collectively, the "Agents").
The Offering is made only by prospectus. The prospectus contains important detailed information relating to the units being offered. Copies of the prospectus may be obtained from any of the Agents. Investors should read the prospectus before making an investment decision.
About Fiera Capital
Fiera Capital is a leading publicly traded, independent investment firm. Fiera Capital is one of only a handful of full service, multi-product investment firms in Canada, offering clients a proven top tier track record in equity and fixed income management as well as depth and expertise in asset allocation and alternative investments. In the U.S., asset management services are provided by Fiera Capital's U.S. subsidiaries, Bel Air Investment Advisors LLC and Wilkinson O'Grady & Co., Inc.
For more information, visit www.fieracapital.com.
SOURCE Real Asset Income and Growth Fund
For further information: For inquiries regarding the Fund, please contact Krista Matheson, Senior Vice President, Retail Markets, Fiera Capital at 416-955-4929 or visit www.fieracapital.com