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Canoe Financial Completes Acquisition of Fiera Investments Mutual Funds

CALGARY, Alberta, June 26, 2020 - Canoe Financial LP (“Canoe” or “Canoe Financial”) announced today that it has completed its acquisition of the rights to manage all of the retail mutual funds managed by Fiera Investments LP (“Fiera Investments Mutual Funds”), representing approximately $1.12 billion in assets. This transaction has boosted Canoe’s assets under management to approximately $ 7.4 billion.  

“We are very pleased to have completed yet another transaction with our partners at Fiera Capital and our goal is to continue building upon the established advisor relationships that come with it”, said Darcy Hulston, President and CEO of Canoe Financial. “We are proud to offer investors a broad suite of actively managed investment solutions through our award-winning product line up. Investors can also benefit from Canoe’s unrivaled Portfolio Class structure designed to provide tax-efficient income and tax-efficient growth.”

“This transaction strengthens our existing partnership with Canoe Financial by combining Canoe’s strong distribution network with Fiera Capital’s exceptional investment management solutions”, said Jean Phillippe Lemay, Global President and Chief Operating Officer of Fiera Capital Corporation. “Canoe is one of the fastest growing independent mutual fund companies in Canada and we are thrilled to continue to expand our partnership with them.”

Effective today, Canoe Financial has become the trustee, manager and portfolio manager of the Fiera Investments Mutual Funds. Effective on or about July 3, 2020, Canoe intends to merge each of the Fiera Investments Mutual Funds into mutual funds managed by Canoe.  The change of trustee, manager and portfolio manager, as well as the proposed mergers have been approved by a majority of the securityholders of each of the Fiera Investments Mutual Funds at their respective special meetings of securityholders, held on June 12, 2020. The approved changes to the Fiera Investments Mutual Funds are summarized below:

About Canoe Financial

Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing over $7.4 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has significant national presence across Canada, including offices in Calgary, Toronto and Montreal.

About Fiera Capital Corporation

Fiera Capital Corporation (“Fiera Capital”) is a leading independent global asset management firm with approximately C$158.1 billion in assets under management as of March 31, 2020. Fiera Capital provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange.

Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, with regional hubs in New York (U.S.), London (UK), and Hong Kong.

In the U.S., asset management services are provided by Fiera Capital’s U.S. affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC) or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult this webpage.

Additional information about Fiera Capital Corporation, including its annual information form, is available on SEDAR at

About Fiera Investments LP

Fiera Investments is an independent investment fund manager focused on delivering innovative investment solutions that provide capital growth and income to Canadian investors. Through strategic partnerships with globally recognized investment managers, mutual funds offered by Fiera Investments deploy proven, world-class investment strategies to help investors achieve their financial objectives. Fiera Investments is wholly owned by Fiera Capital Corporation.

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Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products. 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.