Reported 16 days ago
Fiera Capital Corp. has lost a $4 billion mandate as Canoe Financial LP terminates its advisory agreement, opting to work directly with PineStone Asset Management under former Fiera manager Nadim Rizk. Following the announcement, Fiera's shares dropped 11%, continuing a trend of asset outflows since Rizk's departure to start PineStone in 2021. Despite the challenges, Fiera is confident in its growth strategy and upcoming mandates.
Source: YAHOO