Fiera Capital Announces March 31, 2024, Preliminary Assets Under Management and Q1 2024 Financial Results Date

MONTREAL, April 24, 2024 /CNW/ - Fiera Capital Corporation (TSX: FSZ) ("Fiera Capital" or the "Company"), a leading independent asset management firm, today announced its preliminary estimate of assets under management ("AUM") of approximately C$165.2 billion as at March 31, 2024, compared to C$161.7 billion as at December 31, 2023.

By Distribution Channel	AUM as at			Quarter-over-Quarter Change		Year-over-Year Change
(in C$ billions)	March 31,	December 31,	March 31,	(in $B)	%	(in $B)	%
	2024	2023	2023
Institutional	88.0	88.6	89.3	-0.6	-0.7 %	-1.3	-1.4 %
Financial Intermediaries	62.9	59.1	61.1	3.8	6.4 %	1.7	2.8 %
Private Wealth	14.3	14.0	14.2	0.3	2.2 %	0.1	0.4 %
Total AUM	165.2	161.7	164.7	3.5	2.1 %	0.5	0.3 %
Average quarterly AUM	164.8	158.4	163.9	6.4	4.0 %	0.9	0.5 %

Totals may not reconcile due to rounding.

By Investment	AUM as at			Quarter-over-Quarter		Year-over-Year
Platform				Change		Change
(in C$ billions)	March 31,	December 31,	March 31,	(in $B)	%	(in $B)	%
	2024	2023	2023
Public Markets AUM, excluding PineStone	99.0	98.0	95.4	1.0	1.0 %	3.6	3.8 %
Public Markets AUM sub-advised by PineStone	47.3	45.2	50.6	2.1	4.6 %	-3.3	-6.4 %
Public Markets - Total	146.3	143.2	146.0	3.1	2.2 %	0.4	0.2 %
Private Markets	18.9	18.5	18.7	0.4	2.0 %	0.1	0.8 %
Total AUM	165.2	161.7	164.7	3.5	2.1 %	0.5	0.3 %
Average quarterly AUM	164.8	158.4	163.9	6.4	4.0 %	0.9	0.5 %

Totals may not reconcile due to rounding. 

AUM increased 2.1% to $165.2 billion in the quarter due to strong equity market performance and was relatively flat year-over-year. Public markets, excluding AUM sub-advised by PineStone, increased 1.0% in the quarter and 3.8% year-over-year. AUM sub-advised by PineStone increased 4.6% in the quarter due to strong market performance significantly offsetting outflows. Private markets AUM was up 2.0% in the quarter driven by new subscriptions of approximately $600 million. 

Q1 2024 Results

The Company will issue its financial results for the first quarter of 2024 on Wednesday, May 8, 2024, 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 8, 2024, 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:
To join the conference call without operator assistance, you may register and enter your phone number here to receive an instant automated call back.

You can also dial direct to be entered into the call by an operator:

• From Canada and the United States: 1-888-390-0620 (toll free).
• Outside North America: 1-416-764-8651.
• 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 of the call will be available until May 15, 2024, by dialling 1-888-390-0541 (North American toll free), access code 906241 followed by the number sign (#).

The webcast will remain available for three months following the call and can be accessed on the Investor Relations section of Fiera Capital's website under Events and Presentations.

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, outlook and trends and Fiera Capital's growth, results of operations, performance, business prospects and opportunities and new initiatives. 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", "aim", "goal", "plan", "anticipate", "estimate", "may increase", "may fluctuate", "predict", "potential", "foresee", "forecast", "project", "continue", "target", "intend" or the negative of these terms or other comparable terminology and similar expressions of future or conditional verbs, such as "may", "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. 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 PineStone Asset Management Inc., key employees, asset management industry and competitive pressure, reputational risk, regulatory compliance, information security policies, procedures and capabilities, litigation risk, insurance coverage, third-party relationships, indebtedness, market risk, credit risk, inflation, interest rates and recession risks,  ownership structure and potential dilution and other factors described in the Company's Annual Information Form for the year ended December 31, 2023 under the heading "Risk Factors and Uncertainties" 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.sedarplus.ca.

The preceding list of risk 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 it or on its behalf in order to reflect new information, future events or circumstances or otherwise, except as required by applicable laws.

About Fiera Capital Corporation

Fiera Capital is a leading independent asset management firm with a growing global presence. 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.

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).

Each affiliated entity (each an "Affiliate") of Fiera Capital only provides investment advisory or investment management services or offers investment funds in the jurisdictions where the Affiliate is authorized to provide services pursuant to an exemption from registration and/or the relevant product is registered.

In the U.S., asset management services are provided by Fiera Capital'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 https://www.fieracapital.com/en/registrations-and-exemptions.

Additional information about Fiera Capital, including the Company's Annual Information Form, is available on SEDAR+ at www.sedarplus.ca.

Disclosure

The information presented is for informational purposes only and is not intended to be, and should not be construed as, an offer to sell, or the solicitation of an offer to buy, any investment product. The information presented in this document, in whole or in part, is not investment, tax, legal or other advice, nor does it consider the investment objectives or financial circumstances of any investor.

SOURCE Fiera Capital Corporation

Analysts and Investors: Marie-France Guay, Senior Vice President, Treasury and Investor Relations, Fiera Capital Corporation, 514 294-5878, [email protected]