The Canadian money manager Fiera Capital Corp is planning to increase its assets to more than double the current value of Can$150 billion or US$145 billion through the addition of smaller US firms.
Currently trading close to a five year high, the company has been managing Can$64.5 billion as of the first quarter of 2013. It had recently purchased Natcan Investment Management from the National Bank of Canada and it expects that it would be increasing that fund portfolio through internal growth and external acquisitions.
According to Chairman and CEO Jean-Gey Desjardins, "Our objective is hopefully to make an acquisition or two or three in the US market, preferably in the high net worth segment because we already have institutional distribution. The sweet spot for us is between US$2 billion and US$10 billion of assets under management."
Fiera was able to outperform the competition through its aggressive takeover policy. According to data compiled by Bloomberg, Fiera has returned 29% in the past three years. This is the best performance of any of the five biggest publicly traded asset management firms in Canada.
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