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Opinions Peter Hodson
Fiera Capital CorpFSZ.TOTOP PICKOct 25, 2013
Stock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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It is in the field of asset management and manages $164 billion in assets. It has grown by acquisition in the last while but the stock price is too low now for them to use it as currency for more acquisitions. It needs to be bigger in this type of business and there are better places to be.
Canadian asset manager that has seen low share price (higher interest rates).
AUM growth has been weaker due to choppy markets.
Cyclical business that will recover with flat interest rates.
Jamie Murray 
Brian Madden
Brian Madden
Gavin Graham
Gavin GrahamPays nearly a 7% yield. Cheap PE, too. They've grown by acquisition, owning hedge funds,. private equity, etc. But can they grow organically and increase margins? If they acquire, they must buy big companies to make enough of an impact. They also face heavy competition from ETFs and companies like Blackrock.
(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%.