MONTREAL, April 19, 2022 /CNW Telbec/ – Fiera Capital Corporation (TSX: FSZ) (“Fiera Capital” or the “Company”), a leading independent asset management firm, today reported its preliminary estimate of assets under management (“AUM”) of approximately C$174.5 billion as at March 31, 2022, compared to C$188.3 billion as at December 31, 2021.
“Following a strong close to 2021, the geopolitical backdrop and volatility of global financial markets this year have naturally affected our assets under management, said Jean-Philippe Lemay, President and Chief Executive Officer. The reduction of C$13.8 billion, or 7.3%, was entirely borne by our Public Markets platform, which was exposed to the combination of negative equity markets performance and rising interest rates that impacted equity and fixed income investment strategies. We are pleased that our strategic priority of elevating our Private Markets offering continues to gather momentum with AUM growing by 6.7% to C$16.9 billion in the first quarter of 2022. The breadth of our investment platform, including stable returns provided by private markets solutions, affirms the resiliency of our business model to withstand periods of macroeconomic uncertainty.”
| By Investment Platform | AUM as at | Quarter-over-Quarter | Year-over-year | ||||
| (in C$ billions) | March 31, 2022 | December 31, 2021 | March 31, 2021 | (in $B) | % | (in $B) | % |
| Public Markets | 157.6 | 172.4 | 159.3 | -14.8 | -8.6% | -1.7 | -1.1% |
| Private Markets | 16.9 | 15.9 | 13.6 | 1.1 | 6.7% | 3.3 | 24.6% |
| Total | 174.5 | 188.3 | 172.9 | -13.8 | -7.3% | 1.6 | 1.0% |
| Totals may not reconcile due to rounding. |
| By Investment Platform | AUM as at | Quarter-over-Quarter | Year-over-Year | ||||
| (in C$ billions) | March 31, 2022 | December 31, 2021 | March 31, 2021 | (in $B) | % | (in $B) | % |
| Institutional | 88.6 | 95.6 | 89.2 | -7.0 | -7.4% | -0.6 | -0.7% |
| Financial Intermediaries | 71.9 | 77.9 | 69.9 | -6.0 | -7.7% | 2.0 | 2.8% |
| Private Wealth | 14.1 | 14.8 | 13.8 | -0.7 | -4.8% | 0.3 | 2.2% |
| Total | 174.5 | 188.3 | 172.9 | -13.8 | -7.3% | 1.6 | 1.0% |
| Totals may not reconcile due to rounding. |
Q1 2022 Results
The Company will issue its financial results for the first quarter of 2022 on Wednesday, May 4, 2022, before markets open. A conference call will follow at 10:00 a.m. (ET) the same day.
Conference Call Information:
- The conference call will be held on Wednesday, May 4, 2022, at 10:00 a.m. (ET).
- Financial analysts will be invited to ask questions.
- Media representatives and other interested individuals are invited to participate on a “listen-only” basis.
Conference Call Access:
- From Canada and the United States: 1-888-390-0620 (toll free), access code 90349704.
- Outside North America: 1-416-764-8651, access code 90349704.
- The conference will also be accessible live via webcast.
Financial Information:
The earnings press release, supplementary financial information and a presentation will be posted on ir.fieracapital.com prior to the beginning of the conference call.
Conference Call Replay:
An audio replay will be available until May 11, 2022, by dialling 1‑888‑390‑0541 (North American toll free), access code 349704 followed by the number sign (#).
The webcast will remain available for three months following the call.
Forward-Looking Statements
This document contains forward-looking statements relating to future events or future performance and reflecting management’s expectations or beliefs regarding future events including business and economic conditions and Fiera Capital’s growth, results of operations, performance and business prospects and opportunities. Forward-looking statements may include comments with respect to Fiera Capital’s objectives, strategies to achieve those objectives, expected financial results, and the outlook for Fiera Capital’s businesses and for the Canadian, American, European, Asian and other global economies. Such statements reflect management’s current beliefs and are based on factors and assumptions it considers to be reasonable based on information currently available to management and may typically be identified by terminology such as “believe”, “expect”, “plan”, “anticipate”, “estimate”, “may increase”, “may fluctuate”, “predict”, “potential”, “continue”, “target”, “intend” or the negative of these terms or other comparable terminology and similar expressions of future or conditional verbs, such as “will,” “should,” “would” and “could.”
By their very nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions, forecasts, projections, expectations or conclusions will not prove to be accurate. The uncertainty created by the COVID-19 pandemic has heightened such risk given the increased challenge in making predictions, forecasts, projections, expectations, or conclusions. As a result, the Company does not guarantee that any forward-looking statement will materialize and readers are cautioned not to place undue reliance on these forward-looking statements. A number of important factors, many of which are beyond Fiera Capital’s control, could cause actual events or results to differ materially from the predictions, forecasts, projections, expectations, or conclusions expressed in such forward-looking statements which include, but are not limited to, risks related to investment performance and investment of the AUM, AUM concentration related to strategies sub-advised by StonePine Asset Management Inc., reputational risk, regulatory compliance, information security policies, procedures and capabilities, privacy laws, litigation risk, insurance coverage, third-party relationships, growth and integration of acquired businesses, AUM growth, key employees and other factors described in this Company’s Annual Information Form for the year ended December 31, 2021 under the heading “Risk Factors” or discussed in other materials filed by the Company with applicable securities regulatory authorities from time to time which are available on SEDAR at www.sedar.com.
The preceding list of important factors is not exhaustive. When relying on forward-looking statements in this document and any other disclosure made by Fiera Capital, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Fiera Capital does not undertake to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf in order to reflect new events or circumstances, except as required by applicable laws.
About Fiera Capital Corporation
Fiera Capital is a leading independent asset management firm with a growing global presence and approximately C$174.5 billion in assets under management as of March 31, 2022. 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 key markets in Asia. Fiera Capital’s depth of expertise, diversified investment platform and commitment to delivering outstanding service are core to our mission of being at the forefront of investment management science to create sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. www.fieracapital.com
Headquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the world, including New York (U.S.), London (UK), and Hong Kong (SAR).
In the U.S., asset management services are provided by the Company’s affiliates who are investment advisers that are registered with the U.S. Securities and Exchange Commission (SEC) or exempt from registration. Registration with the SEC does not imply a certain level of skill or training. For details on the particular registration of, or exemptions therefrom relied upon by, any Fiera Capital entity, please consult this webpage.
Additional information about Fiera Capital Corporation, including the Company’s annual information form, is available on SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation
