|Fiera Capital - FSZ.t is a prominent Canadian investment management firm cultivating excellence in portfolio management and investment solutions.|
With close to $66 billion in assets under management, the company is one of Canada’s leading investment managers.
"Fiera Capital Corporation (TSX: FSZ) (“Fiera Capital” or “the Firm”), a leading independent Canadian investment firm, today reported its financial results for the first quarter ended March 31, 2013 (“the first quarter”).
Financial and Corporate Highlights
For the three months ended March 31, 2013:
Assets under management (“AUM”) increased by $7.5 billion, of which $6 billion comes from the UBS acquisition, to $64.5 billion from the previous quarter ended December 31, 2012 and by $35.8 billion compared to the quarter ended March 31, 2012.
Revenue increased by 95% to $30.2 million compared to the corresponding quarter ended March 31, 2012.
Earnings before interests, taxes, depreciation and amortization (“EBITDA”) increased by over 100% to $10.9 million compared to $3.4 million for the same quarter ended March 31, 2012.
The Firm recorded net earnings of $0.03 per share compared to a net loss per share of $(0.01) for the quarter ended March 31, 2012.
Adjusted net earnings for the period were $7.4 million or $0.13 (basic and fully diluted) per share, an 86% increase over adjusted net earnings of $2.6 million or $0.07 per share for the period ended March 31, 2012.