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The business acquired by Fiera includes management agreements related to six TSX-listed closed end funds (the "Propel Funds") with an aggregate market value of over
"Strategically, this acquisition, which will be accretive to earnings, directly contributes to Fiera Capital's near-term growth and leadership objectives. Propel has an excellent track record raising assets over a short period of time, and also benefits from a very strong network. With the Propel team on board, Fiera Capital is further enhancing its expertise, offering and distribution capabilities in the Canadian retail investor space," said
"The Propel team is excited to join Fiera Capital, with whom we share a similar investment and client-focused approach. This will make it possible for us to continue to serve our existing clients while also creating new, innovative investment products, and working with advisors across
Following the Transaction, it is anticipated that Propel will be wound-up into Fiera on or about
Propel develops, manages and distributes innovative investment solutions for Canadians through various TSX-listed and managed Funds. www.propelcapital.ca
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent investment firm, with more than
Additional information relating to Fiera, including Fiera's annual information form, is on SEDAR at www.sedar.com.
This press release may contain forward-looking statements and information within the meaning of applicable securities legislation. In some cases, forward-looking statements can be identified by the expressions "seek", "expect", "believe", "estimate", "will", "target", "may", "should", "plan", "anticipate", "predict", "potential", "continue", "intend" or the negative of these terms, or other comparable terminology. The forward-looking statements are not historical facts but reflect the current expectations of Propel and the portfolio managers of the underlying portfolios regarding future results and events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. All forward-looking statements in this press release are qualified by these cautionary statements. Propel believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however. Propel can give no assurance that the actual results or developments will be realized. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Propel undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.
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