Canoe Financial Completes Acquisition of Fiera Investments Mutual Funds

CALGARY, Alberta, June 26, 2020 (GLOBE NEWSWIRE) -- 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:

Name of Fiera Investments Mutual Fund	Changes
Fiera Intrinsic Balanced Registered Fund	Change of trustee, investment fund manager and portfolio manager Merger into Canoe Defensive Global Balanced Fund
Fiera Canadian Bond Fund	Change of trustee, investment fund manager and portfolio manager Merger into Canoe Bond Advantage Portfolio Class, which consists of Canoe Bond Advantage Class and units of Canoe Trust Fund
Loomis Sayles Global Diversified Corporate Bond Fund