Fiera Capital Corp (FSZ.TO)

They have been buying up money management companies. They have a big shareholder in National Bank (NA-T) when they bought out one of National’s businesses. What he doesn’t like is that they are thinking of buying wealth management companies similarly to the way they have been buying institutional money managers. Thinks this is a very, very dangerous strategy to pursue.

(A Top Pick in June 21/13. Up 21.06%.) Still likes. Stock has been a little quiet recently. Did a couple of US acquisitions, and a lot of people were excited about their potential rolling into the US. It is one of those companies where slow and steady is the name of the game. Pays a nice dividend. Up to $85 billion in assets. Earnings growth is good. A solid, long-term keeper in the asset management space.

Has done plenty of acquisitions. Continue to raise dividend. Bought two companies in the US and it looks good. A great, great company. Solid because they get their management fee even when the market goes down. Could sell themselves 5 years down the road.

When markets start going well, people start taking money from under their mattress and putting it in and that benefits companies like this. Stock price had a tremendous ride. Returns to investors were not all that great. The question is how they will attract people in the future. Expect that people who manage money will start doing much better.

(A top pick June 21/13. Up 32.26%.) Came out of nowhere and started acquiring good Canadian companies in the asset management business, which he liked. In the past month or so, they’ve raised $100 million plus and bought 2 US companies, giving him 8 million more assets and will do exactly what they did in Canada, consolidate the business. Very aggressive. Yield of 3.13%.

Asset management company and have been in the business for 25 years. They bought Sceptre. Did a deal with UBS to get some assets. Also with Society General (?) to get some assets. One of the top 4 in Canada. They will be one of the beneficiaries of the shift from bonds to stocks. Not overly expensive. Possible takeover down the road. 3.39% yield.