The Quebec government does not renew the QSSP II program
08 Apr, 2015, 17:24 ET
MONTREAL, April 8, 2015 /CNW Telbec/ - The Fiera Capital QSSP II Investment Fund Inc. (the "Fund") and Fiera Capital Corporation ("Fiera Capital"), acting as manager of the Fund, take note of the fact that the Québec government decided not to renew the Québec Stock Savings Plan II program established under the Income Tax Act (Québec) (the "QSSP II program"). The QSSP II program came to an end on December 31, 2014 and has been subject to a review by the Quebec Taxation Review Committee.
The non-renewal of the QSSP II program will prevent the Fund from proceeding to new issuance of shares eligible under the terms of the QSSP II program allowing its future shareholders to claim a tax deduction for income tax purposes. Following this decision of the Québec government and subject to future legislative changes, the Fund does not intend to issue new shares within the next years.
However, the non-renewal of the QSSP II program having no retroactive effect, the shares issued by the Fund before December 31, 2014 will still allow their holders to claim a tax deduction in connection with their holdings in the Fund. Fiera Capital believes it can pursue the investment objective of the Fund notwithstanding the non-renewal of the QSSP II program.
About Fiera Capital Corporation
Fiera Capital is a leading Canadian publicly-traded, independent investment firm. Fiera Capital is one of only a handful of full service, multi-product investment firms 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. In the U.S., asset management services are provided by Fiera Capital's U.S. subsidiaries which operate under the banner Fiera Capital Global Asset Management, serving institutional and private clients. Fiera Capital also owns Bel Air Investment Advisors LLC, a specialized U.S. wealth management advisory firm which operates as a stand-alone entity.
Additional information relating to the Fund and Fiera Capital, including their Annual Information Form, is available on SEDAR at www.sedar.com
SOURCE Fiera Capital Corporation
For further information: Mélanie Tardif, CPA, CMA, Director, Corporate Communications and Investor Relations, Fiera Capital Corporation, 514-954-6456, [email protected]
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