Fiera Capital Corp T.FSZ

Alternate Symbol(s): FRRPF | T.FSZ.DB.B

Financial Services Asset Management

Fiera Capital Corporation is a Canada-based independent asset management company. The Company delivers customized and multi-asset solutions across public and private market asset classes to institutional, financial intermediary and private wealth clients across North America, Europe and Asia. It offers a range of traditional and non-traditional investment strategies through specialized and balanced mandates. It works with endowments, foundations, corporations, private and public funds and Taft-Hartley plans. Its institutional solutions include fixed income, equity and non-traditional. Its fixed income solutions include Canadian Active, Canadian Credit, Core Plus, Infrastructure Debt and North American High Yield. The Company's portfolio managers work directly with clients and their financial intermediaries, attorneys and accountants to design custom portfolios. Its private markets solution categories include real estate, infrastructure, agriculture, private equity and private credit.

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Fiera Capital Corp > Outcomes

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Comment by Catscratchon May 20, 2023 11:17am

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Post# 35457729

RE:RE:Outcomes

My guess is that is the direction this is going as well. Fiera is a relatively small fish in a large and crowded pond.

If a possible sale is on the table this year I don't think they will change the dividend.

Here's a link to a good report from Deloitte on M&A in the investment management business. Supports that reasonable valuation is 1% to 2% enterprise value to AUM.

So the low-end of 1% EV to AUM an acquisition works out to about $12 per Fierra share. Pretty big premium to the current share price.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www2.deloitte.com/content/dam/Deloitte/nl/Documents/financial-services/deloitte-nl-fs-asset-management-industry-insight-report.pdf&ved=2ahUKEwimwp2Ul4T_AhW2AzQIHcQBCgUQFnoECAsQAQ&usg=AOvVaw1a6sIZQvjWIYhNMIN9Xy_N

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