CALGARY, Alberta, April 10, 2020 (GLOBE NEWSWIRE) -- Canoe Financial LP (“Canoe Financial”) today announced it will be holding securityholder meetings and reducing management fees for certain funds. 

Securityholder Meetings

As announced on April 9, 2020, Canoe Financial has reached an agreement with Fiera Capital Corporation and its wholly-owned subsidiary, Fiera Investments LP (“Fiera Investments”) to acquire the right to manage Fiera Investments’ retail mutual funds. The transaction is expected to close on or about the end of the second quarter of 2020, subject to receipt of all necessary and securityholder approvals.

Upon completion of the proposed transaction and subject to receipt of all necessary approvals, Canoe Financial proposes to merge certain of the Fiera Investments mutual funds (“Fiera Terminating Funds”) into certain Canoe mutual funds (“Canoe Continuing Funds”), as set forth below.

Fiera Terminating Funds	Canoe Continuing Funds
Oakmark International Equity Registered Fund	Canoe Defensive International Equity Fund
Oakmark International Equity Class
Oakmark U.S. Equity Registered Fund	Canoe Defensive U.S. Equity Portfolio Class
Oakmark U.S. Equity Class
Fiera U.S. Dividend Class
Fiera U.S. Dividend Registered Fund

Due to the fact that the total assets of the Fiera Terminating Funds are collectively larger than the assets of each Canoe Continuing Fund into which the Fiera Terminating Funds are merging, Canoe Financial is calling a meeting of securityholders of each of the Canoe Continuing Funds to vote on the applicable merger.

Approval from securityholders of each Canoe Continuing Fund will be sought at special meetings to be held in the second quarter of 2020. Details about the mergers will be contained in the meeting materials. 

Management Fee Reductions

Effective May 1, 2020, the management fee for Series A of Canoe Bond Advantage Portfolio Class will be reduced from 1.35% to 1.25%, the management fee for Series F of Canoe Bond Advantage Portfolio Class will be reduced from 0.85% to 0.70%, the management fee for Series A of Canoe Defensive International Equity Fund will be reduced from 1.90% to 1.85% and the management fee for Series F of Canoe Global Income Fund will be reduced from 0.99% to 0.70%.

About Canoe Financial
Canoe Financial is one of Canada’s fastest growing independent mutual fund companies managing over $5.45 billion in assets across a diversified range of award-winning mutual funds and private energy equity products. Founded in 2008, Canoe Financial is an employee-owned investment management firm focused on building financial wealth for Canadians. Canoe Financial has significant national presence across Canada, including offices in Calgary, Toronto and Montreal.

Further Information
Investor Relations
1–877–434–2796
www.canoefinancial.com
info@canoefinancial.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

Certain statements included in this news release constitute forward-looking statements, which reflect Canoe Financial’s current expectations regarding future results or events. Words such as “may,” “will,” “should,” “could,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “potential,” “continue” and similar expressions have been used to identify these forward-looking statements. In addition, any statement regarding future performance, strategies, prospects, action or plans is also a forward-looking statement. Market predictions and forward-looking statements are subject to known and unknown risks and uncertainties and other factors that may cause actual results, performance, events, activity and achievements to differ materially from those expressed or implied by such statements. Forward looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward-looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.