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Canoe Financial announces changes to sub-advisor and Low Load purchase option

CALGARY, Alberta –  - Canoe Financial LP (“Canoe Financial”) today announced sub-advisory changes for Canoe Canadian Small Mid Cap Portfolio Class and the global equity portion of Canoe Defensive Global Balanced Fund. Additionally, Canoe Financial announced its intention to discontinue the Low Load purchase option for new purchases.

Sub-advisor changes

Effective on or about August 3, 2021, Fiera Capital Corporation (“Fiera Capital”) will cease to act as sub-advisor for Canoe Canadian Small Mid Cap Portfolio Class. Canoe Financial will remain as portfolio manager and will manage the investment portfolio of the fund. The fund will be co-managed by Sajan Bedi, Portfolio Manager and Robert Taylor, Senior Vice President, Portfolio Manager and Head of Equities.

“As an independent investment manager, our objectives and interests are aligned with those of our investors. Rob and Sajan are equity specialists with extensive experience in Canadian small and mid cap equities, and collectively have over three decades in the investment industry. Funds managed by Rob and Sajan currently rank in the top decile of performance in their respective peer groups across all time periods. We’re excited to have them at the helm, navigating the fund through the next phase of the cycle,” said Darcy Hulston, President and Chief Executive Officer.

Effective on or about June 29, 2021, Fiera Capital will cease to act as sub-advisor for the global equity portion of Canoe Defensive Global Balanced Fund. It is expected that the fund will continue to invest in units of Canoe Defensive Global Equity Fund for global equity exposure, which continues to be sub-advised by Fiera Capital.

Low Load purchase option

Effective on or about June 1, 2022, Canoe Financial is closing the Low Load purchase option to new investments in Canoe mutual funds as a result of the decision of the Canadian Securities Administrators to ban deferred sales charges (DSC), including low load options, on mutual funds.

Investors currently holding securities under the Low Load purchase option will remain invested based on the redemption fee schedule applicable to those securities, and will continue to be able to switch from these securities to other securities under the same redemption fee schedule. 

About Canoe Financial

Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing over $10 billion in assets across a diversified range of award-winning investment solutions. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has a significant presence across Canada, including offices in Calgary, Toronto and Montreal.

Further Information

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Certain statements included in this news release constitute forward-looking statements, which reflect Canoe Financial’s current expectations regarding future results or events. Words such as “may,” “will,” “should,” “could,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “potential,” “continue” and similar expressions have been used to identify these forward-looking statements. In addition, any statement regarding future performance, strategies, prospects, action or plans is also a forward-looking statement. Market predictions and forward-looking statements are subject to known and unknown risks and uncertainties and other factors that may cause actual results, performance, events, activity and achievements to differ materially from those expressed or implied by such statements. Forward looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward-looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.