Fiera Capital’s AUM reaches $131.4B in Q1 2018

The assets under management (AUM) for Fiera Capital Corporation reached $131.4 billion in Q1 2018, the firm said Friday.

Fiera’s AUM increased by $9.3 billion, or 8%, from Q1 2017, and by $2.5 billion, or 2%, from the previous quarter.

The growth is “due to positive client inflows in the quarter, mainly from the private wealth clientele and from institutional clients who invested in our private alternative investments division, accompanied by positive market performance and a favourable foreign exchange impact,” said Jean-Guy Desjardins, CEO at Fiera Capital, in a release.

The revenues for Q1 were $120 million, an increase of $19.4 million, or 19%, compared with $100.6 million for Q1 2017.

Read: Fiera Capital’s Canada private wealth AUM to exceed %6B after CGOV buy

The firm won $2 billion in new mandates in Q1, specifically in the institutional and private wealth sectors. The gains were offset by lost mandates of $1.8 billion, mainly driven by clients who either consolidated the investment service providers or pursued other asset classes, the release said. The new AUM came mainly from Fiera’s private wealth clientele in the U.S. along with Canadian institutions and private alternative investment strategies.

The adjusted EBITDA for the quarter was $28.8 million, an increase of $3.6 million, or 14%, compared to $25.2 million for Q1 2017. This was a decrease of $7.3 million, or 20%, compared to $36.1 million from Q4 2017.

“The sequential decrease is mainly due to lower revenues resulting from lower performance fees, partially offset by higher base management fees and lower operating expenses,” the release said.

Other highlights from the firm’s Q1 financial results include:

• Adjusted EBITDA per share was $0.32 compared with $0.31 (basic) and $0.30 (diluted) for Q1 2017
• Net earnings (loss) per share of $(0.02), compared to $0.05 year-over-year
• Adjusted net earnings per share of $0.24, compared to $0.27 year-over-year

Also read:

Fiera acquiring Hong Kong-based Clearwater Capital Partners

Fiera Capital lowers management fees for two mutual funds

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.