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Net Asset Value Error of the Senior Secured Floating Rate Loan Fund
Net Asset Value Error of the Senior Secured Floating Rate Loan Fund Canada NewsWir...
About this update from Fiera Capital Corporation Class A
[{"type":"text","content":"\n\n\n\nNet Asset Value Error of the Senior Secured Floating Rate Loan Fund\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. 17, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, Aug. 17, 2020 /CNW Telbec/ - Fiera Capital Corporation (\"Fiera Capital\"), the investment fund manager of the Senior Secured Floating Rate Loan Fund (TSX: FRL.UN) (\"Fund\") announced today that the estimated net asset value per unit (\"NAV\") of the Fund was misstated for the period of April 9, 2020 to July 13, 2020. The misstatement was the result of an administrative error by the Fund valuation service provider. Fiera Capital has reviewed the details with the service provider and has implemented steps to prevent recurrence. The NAVs were subsequently recalculated and were higher than the reported NAV throughout the period, with the maximum difference being $0.0625 on a reported NAV of $6.5640, for a difference of 0.95%. There were redemptions at the originally-published NAVs during this period. Fiera Capital intends to correct these redemptions, therefore reimbursing the differential of NAV to the redeeming unitholders.\nAbout Fiera Capital Corporation\nFiera Capital is a leading independent global asset management firm with approximately C$171.0 billion in assets under management as of June 30, 2020. The Company provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes. 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\nHeadquartered in Montreal, Fiera Capital, with its affiliates in various jurisdictions, has offices in over a dozen cities around the wo...