Fiera Capital Corporation announced Aug. 16 that it has completed its previously announced acquisition of all of Foresters Asset Management Inc. from Foresters Life.
Foresters Asset Management Inc. has been renamed Fiera Capital Fund Management Inc. (FCFM).
Amalgamation of Fiera Capital and FCFM
Fiera Capital says “shortly following the closing of the transaction, Fiera Capital will incorporate the FCFM business into its existing Canadian operations, by amalgamating Fiera Capital and FCFM, as well as by effecting certain changes to FCFM's senior officers, directors and portfolio managers during the interim period between closing and amalgamation.”
Fiera Capital says that as a result of these changes, it will become manager and portfolio manager of the funds previously managed by FCFM.
As of July 31, FCFM, which focuses on institutional and insurance liability-driven investment (LDI), had approximately $10.9 billion in assets under management.