A Message From Our
Chairman of the Board
and Global Chief
Executive Officer

Over the last twelve months, Fiera Capital has thoughtfully expanded its global reach by strategically shifting towards a regionalized distribution model, in order to be better aligned with our markets and clients.

Moving from a centralized global model to one that is more deeply rooted in local insight, our focus on Canada, the US, EMEA and Asia has notably strengthened our market engagement and service delivery. The introduction of regional leadership and the opening of key offices in Zurich, Abu Dhabi and The Hague exemplify our ambition to being where client demand for our investment strategies is strongest.

This strategic pivot is not just about growth; it’s a testament to our agility in navigating market dynamics and seizing opportunities for value creation. As we move forward, Fiera Capital is unequivocally committed to sustainable growth, excellence in service and delivering on our promises to all our stakeholders.

2023 was a year shaped by the unique blend of challenges and opportunities presented by the global financial landscape. Amidst regional banking crises, inflationary pressures and geopolitical uncertainties, Fiera Capital has showcased its resilience and strategic agility.

By the end of the year, our assets under management increased to $161.7 billion, with a growth of 4.1% from the previous quarter and an annual rise of 2.0%. These results underscore our team’s expertise in maneuvering through a dynamic market environment.

Fiera Capital’s Public Markets division has built a high-quality equity and fixed income platform that is performing, diversified and resilient to unpredictable financial markets. Public Markets assets increased by $6.6B in the last quarter of 2023, driven by successful active investment management within rising financial markets. Our global investment offering continues to demonstrate long-term success with 98% of our strategies outperforming their benchmarks over a 5-year horizon. As our platform continues to mature and succeed within a competitive industry, we are focused on delivering high quality investment solutions that leverage our full investment capabilities.

The Private Markets division also demonstrated stability, overseeing C$18.5 billion in assets. Despite economic conditions that influenced fundraising, we achieved C$1.7 billion in new subscriptions throughout the year. The Private Markets division launched European Real Estate Debt and U.S. Real Estate Debt strategies, solidifying the firm's position as a global real estate credit platform.

Our investment philosophy continues to be deeply rooted in sustainability. Last year, we underscored this commitment through key initiatives, including the publication of our first Task Force on Climate-Related Financial Disclosures (TCFD) report and our adherence to the UK Stewardship Code. Our engagement in Climate Engagement Canada and similar initiatives highlights our dedication to making a meaningful impact on environmental and social fronts.

I extend my heartfelt thanks to our teams for their hard work, which have been essential in our achievements over the past year. Your collaboration, creativity and dedication have been the cornerstone of our success, allowing us to face challenges head-on and emerge stronger, more resilient and more united than ever before.

To our clients, your trust and partnership are invaluable. To our shareholders and creditors, your unwavering support is greatly appreciated. Finally, special thanks to our board members, who have provided wise counsel and guidance through our journey of transformation.

Looking ahead, Fiera Capital is committed to continuing its path of organic growth, operational improvement and sustainable investment returns. We are well-prepared to face upcoming challenges and embrace opportunities, aiming to further solidify our position in the global asset management sector.

Sincerely,