/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Feb. 1, 2021 /CNW Telbec/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or "the Company"), a leading independent asset management firm, today reported its preliminary estimate of assets under management ("AUM") of approximately C$180.2 billion as at December 31, 2020, a C$2.5 billion increase, or 1.4%, compared to AUM of C$177.7 billion as at September 30, 2020.
"Assets under management increased by C$10.5 billion, or 6.2%, in 2020," said Jean-Philippe Lemay, Global President and Chief Operating Officer. "Heading into 2021, we will remain focused on organic growth while we continue to execute on our strategic priorities, notably by remaining resolute in our commitment to investment excellence for our clients and delivering value to our shareholders through optimized capital allocation."
| | | | |
| | AUM as at | Quarter-over-Quarter
Change | Year-over-Year Change |
| (in C$ millions) | Dec. 31, 2020 | Sept. 30,
2020 | Dec. 31, 2019 | (in $M) | % | (in $M) | % |
| Institutional | 108,637 | 103,807 | 96,298 | 4,830 | 4.7% | 12,339 | 12.8% |
| Private Wealth | 30,999 | 34,932 | 33,838 | (3,933)1,2 | (11.3%) | (2,839)1,2,3 | (8.4%) |
| Retail | 40,561 | 38,954 | 39,535 | 1,607 | 4.1% | 1,026 | 2.6% |
| Total | 180,197 | 177,693 | 169,671 | 2,5041,2 | 1.4% | 10,5261,2,3 | 6.2% |
| 1) | Includes redemptions of $1.4 billion occurring in the fourth quarter of 2020 in Bel Air Investment Advisors ("Bel Air") following the departure of an advisory team. On January 4, 2021, the Company announced the sale of Bel Air, which is expected to close during the first quarter of 2021. |
| 2) | On December 31, 2020, the Company completed the sale of Wilkinson Global Asset Management, reducing the Company's AUM by $2.7 billion. |
| 3) | Includes redemptions of $1.2 billion occurring in the third quarter of 2020 in Bel Air following the departure of an advisory team. |
Q4 2020 Results
The Company will issue its financial results for the fourth quarter of 2020 on Thursday, March 18, 2021, before markets open, followed by a conference call at 10:30 a.m. (EDT) the same day.
Conference call information:
- The conference call will be held on Thursday, March 18, 2021, at 10:30 a.m. (EDT).
- Financial analysts will be invited to ask questions.
- Media representatives and other interested individuals are invited to participate on a "listen-only" basis.
Conference call access:
- From Canada and the United States: 1-866-865-3087 (toll free), access code 9379048;
- Outside North America: 1-647-427-7450, access code 9379048;
- The conference will also be accessible live via webcast.
Financial information:
The quarterly press release, supplementary financial information and a presentation will be posted on www.fieracapital.com prior to the beginning of the conference call.
Replay of conference call:
An audio replay will be available from March 18 to March 25, 2021 by dialing 1–855–859–2056 (toll free), access code 9379048.
The webcast will remain available for three months following the call.
About Fiera Capital Corporation
Fiera Capital is a leading independent global asset management firm with approximately C$180.2 billion in assets under management as of December 31, 2020. The Company provides institutional, private wealth and retail 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. www.fieracapital.com
Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, including New York (U.S.), London (UK), and Hong Kong (SAR).
In the U.S., asset management services are provided by the Company'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 the Company's annual information form, is available on SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation
View original content: https://www.newswire.ca/en/releases/archive/February2021/01/c5962.html
© 2021 Canjex Publishing Ltd. All rights reserved.