Fiera Capital Inc. (“Fiera Capital” or the “Firm”), an affiliate of Fiera Capital Corporation (TSX: FSZ), a leading independent asset management firm with approximately $100 billionunder management, today announced that the City National Rochdale Emerging Markets Fund (the “Fund”) is now offered as the Fiera Capital Emerging Markets Fund.
The Emerging Markets Fund is a Morningstar overall 5-star rated fund based on risk adjusted returns out of 664 Diversified Emerging Markets funds as of April 30, 2018.
The investment team continues to be led by Anindya Chatterjee, Senior Vice President and Senior Portfolio Manager, and the objective, process and risks of the Fund are unchanged.
The Fund seeks long-term capital appreciation by investing in quality companies in emerging markets. The Fund’s opportunistic process seeks to capitalize on underlying regional macro trends and global macro dynamics, which combined with fundamental bottom-up security selection may result in more concentrated regional investments. This investment process has resulted in the Fund’s current portfolio consisting primarily of Asian companies.
“The Emerging Markets Fund complements our emerging markets strategy, nicely augmenting our macro-regional offerings,” said Benjamin Thompson, Chief Executive Officer of Fiera Capital’s U.S. division. “With the addition of this Morningstar 5-Star rated Fund managed by a well regarded investment team, we strengthen our expertise in emerging markets, an area in which we believe we will continue to see strong client demand.”
“Working with the Fiera Capital team since the announcement of this transaction in December 2017 has enhanced our confidence that this partnership marks an exciting milestone in the Fund’s development. Our clients can rely on the continuity of our investment team and investment process coupled with Fiera Capital’s strong distribution platform,” added Anindya Chatterjee.
The tickers for the institutional share class (CNRYX) and investor share class (RIMIX) will not change. The Fund currently has $1.7 billion in assets under management.
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It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. As of 4/30/18 City National Rochdale Emerging Markets Fund Class N and Class Y were rated against 664 Diversified Emerging Markets funds over a three-year period and 476 over a five-year period, and received 4 stars for the three-year period, 5 stars for the five-year period and an overall rating of 5 stars. Past performance is no guarantee of future results.
Mutual fund investing involves risk. Principal loss is possible. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings or geographical areas than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. The fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested.
For additional information on these and other risks, please click here to read the prospectus.
The Fiera Capital Emerging Markets Fund is distributed by Foreside Fund Services, LLC. Fiera Capital Inc. is the investment adviser to the Fiera Capital Emerging Markets Fund.
Consider the objectives, risks, and charges carefully before investing; the prospectus contains this and other information about the investment company; the prospectus should be read carefully before investing.