09:39 AM EST, 11/08/2024 (MT Newswires) -- Fiera Capital Corporation ( FRRPF ) , an independent asset management firm, was edging down early Friday after announcing that it has received on November 7, 2024 notice of termination of the sub-advisory agreement between the company and Canoe Financial LP regarding funds sub-advised by the company and PineStone Asset Management Inc.

Friday's statement noted the effective date of the termination of the company's agreement and resulting transfer of the assets under management to PineStone are expected to occur on January 10, 2025.

It also noted the funds managed by Canoe that are sub-advised by Fiera Capital ( FRRPF ) pursuant to such agreement represented approximately $5.5 billion in AUM of the company's Public Markets platform as of September 30, 2024.

Fiera Capital ( FRRPF ) said it is "executing its organic growth strategy" and is "confident in its ability to mitigate this AUM reduction and maintain consistent financial performance throughout 2025".

Price: 10.80, Change: -0.10, Percent Change: -0.92