For the second quarter ended June 30, 2017, Fiera Capital Corporation says its assets under management have grown to $125.7 billion, or by 15% year over year. Broken down, the company’s AUM comes from institutional ($65.5 billion), private wealth ($26.4 billion) and retail clients ($33.8 billion).
Fiera Capital today reported its Q2 financial results and Jean-Guy Desjardins, president and CEO, says in a release that “particularly strong revenue growth” came from Fiera Capital’s U.S. and private alternative investments divisions. Desjardins adds the company’s goal is to reach $200 billion in assets under management by the end of 2020.
The release notes the firm won $3.8 billion in new mandates during Q2, mainly in the institutional and private wealth sectors — though that was partially offset by $1.5 billion in net outflows. New AUM revenues stemmed from global equity and private alternative mandates.
Second-quarter revenues were $109.3 million, representing an increase of $34.3 million or 46% over the same period last year. That rise was driven by organic growth, the acquisitions of Apex Capital Management and Charlemagne Capital Limited, and the inclusion of the Private Alternative division, says the release.