Fiera Capital Corp T.FSZ

New Press Release - Fiera Capital Receives Notice of Termination from Canoe Financial LP

MONTREAL, Nov. 8, 2024 /CNW/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Company"), a leading independent asset management firm, announced that it has received on November 7, 2024 notice of termination of the sub-advisory agreement between the Company and Canoe Financial LP...read article.

[theCurse]

That certainly is peculiar timing....the day their results were announced.  May lose all of yesterday's gains.  disappointing for sure. Wonder if some of the rise yesterday was short covering after the results were realised.  Not sure if the number i saw is correct but 4.77% (~4M) of the float is/was shorted. tC

[smitini12]

This sure is bad timing.  What a blunder.   They have some work to do here. Smit

[Detailoriented1]

Given 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

[tinkvid]

I agree that this was an over reaction to the news of Canoe Financial LP will end an arrangement that involves both Fiera and PineStone. The deal that Fiera and Nadim Rizk(Pinestone Asset Mgt) entered into in 2021 was mutually beneficial for both as he always wanted to run his own Asset Mgt firm.  The runup was very fast from 10.00 to 10.92 that gap needed to be filled. I am sure the

[smitini12]

Going through the NRs they've been transparent about the exposure to the Canoe and Pinestone agreements.  Bottom line they're duds and a drag - time to move on - AUM not materially affected.  Confident about the forward statements and the divident still stands.  I'm good. Smit

[savyinvestor333]

FIERA CAPITAL CORPORATION CLASS 'A' SV 1,784,501 -572,787 31 Oct 2024 Short report