Canoe Financial Buys Right to Manage Fiera Canadian Preferred Share Class

This is very old news at this point, but better late than never!

Canoe Financial has announced (on 2020-4-9) that it:

reached an agreement under which Canoe Financial will acquire the rights to manage all of Fiera Investments’ retail mutual funds listed below (the “Mutual Funds”), representing approximately $1.14 billion in assets. The transaction is expected to close on or about the end of the second quarter of 2020, subject to receipt of all necessary approvals.

Regulatory approval was granted 2020-6-17:

The principal regulator is satisfied that the decision meets the test set out in the Legislation for the principal regulator to make the decision.

The decision of the principal regulator under the Legislation is that the Approvals Sought are granted.

As a result “Fiera Canadian Preferred Share Class” was merged into “Canoe Preferred Share Portfolio Class”, a new Canoe Portfolio Class Fund to be created prior to the Merger Date consisting of Canoe Preferred Share Class and units of Canoe Trust Fund.

Accordingly, the acquisition closed on 2020-6-26.

The new fund has been assigned a page on the Canoe Financial website with an inception date of July, 2020.

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