RE:RE:RE:New Press Release - Fiera Capital Receives Notice of Termination from Canoe Financial LPGiven that these are subadvised funds, the margin is not nearly as high as the margin on their other lines of business.
While this is a blow in terms of assets, the bottom line impact won't be much at all.
Subadvised funds are not their bread and butter nor part of their focus.
I think this is an over reaction today, especially with analysts staring to set targets above the current price.
And the dividend increase announced puts the yield back at 9 percent which is way too high for a company that seems to surprise on the positive side most quarters.
And don't forget that management owns a big chunk of the shares here and Jean Guy Desjardins has a history of build and sell so a buyout by one of the banks or another asset manager is very possible.
GLTA