Business
Fiera Capital announces the closing of the acquisition of Foresters Asset Management Inc.
Fiera Capital announces the closing of the acquisition of Foresters Asset Management Inc. ...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nFiera Capital announces the closing of the acquisition of Foresters Asset Management Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Aug. 16, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES ORDISSEMINATION IN THE UNITED STATES/\n MONTREAL, Aug. 16, 2019 /CNW Telbec/ - Fiera Capital Corporation (\"Fiera Capital\") (TSX: FSZ) announced today that it completed its previously announced acquisition of all the issued and outstanding shares of Foresters Asset Management Inc. from Foresters Life Insurance Company, following receipt of all necessary approvals. Upon closing, Foresters Asset Management Inc. was renamed Fiera Capital Fund Management Inc. (\"FCFM\"). \nFCFM acts as investment fund manager and portfolio manager to the imaxx family of mutual funds, which are investment funds offered to the public, and to Foresters Asset Management Canadian Bond Pool (whose name will be changed to Fiera SFI – Canadian Universe Bond Fund shortly after closing), which is an investment fund offered pursuant to exemptions from the prospectus requirement (collectively, the \"Funds\").   \nShortly following closing of the transaction, Fiera Capital will incorporate the FCFM business into its existing Canadian operations, by amalgamating Fiera Capital and FCFM, as well as by effecting certain changes to FCFM's senior officers, directors and portfolio managers during the interim period between closing and amalgamation. As a result of these changes, Fiera Capital will become manager and portfolio manager of the Funds. \nUnitholder approvals were obtained for the change of manager of the Funds at special meetings held on August 9th and 13th. In addition, unitholder approval was obtained to amend the trust agreements governing the Funds to grant the manager of the Funds the right to effect a change of auditor without unitholder approval. FCFM has exercised this right and so it is anticipated that the auditor of the Funds will change from Ernst & Young LLP to PricewaterhouseCoopers...