Fiera Capital Emerging Markets Fund**

Investment Approach

The Fund seeks long-term capital appreciation by investing in a portfolio of emerging markets equities. The team’s opportunistic process seeks to capitalize on underlying regional macro trends and global macrodynamics which, combined with fundamental bottom-up security selection, may result in more concentrated regional investments as demonstrated by the Fund’s current bias towards Asian companies.

 

 

Core Principles

  • Regional and global macro-economic analysis
  • On-the-ground research
  • Focus on locally listed companies
  • Bottom-up security selection

NET PERFORMANCE (%)

As of March 31, 2021

  3 MO YTD 1 YR 3 YRS 5 YRS SI*
Investor Class – RIMIX -0.78 -0.78 64.82 5.37 11.22 10.75
Institutional Class – CNRYX -0.71 -0.71 65.26 5.65 11.49 10.90
MSCI Emerging Markets Net TR Index 2.29 2.29 58.39 6.48 12.07 6.63
MSCI Emerging Markets Asia Net TR Index 2.16 2.16 60.13 9.45 14.48 9.63

*The City National Rochdale Emerging Markets Fund, a series of City National Rochdale Funds with an inception date of 12/14/11, was reorganized into the Fiera Capital Emerging Markets Fund, a series of the Fiera Capital Series Trust as of 6/4/18. The new Fund has the same investment objective and investment team, and substantially similar fundamental investment policies, principal investment strategies and risks. RIMIX Fund Inception: 12/14/2011. CNRYX Fund Inception: 6/1/2016. Performance presented for CNRYX links the performance of RIMIX from 12/14/11 to 5/31/16 with the performance of CNRYX after that. Performance for periods longer than one year is annualized. Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-855-771-7119.

Expense Ratios

Investor Class: 1.50%

Institutional Class: 1.25%

The Adviser and the Fund have entered into a contractual expense limitation and reimbursement agreement such that the total expense ratios for the Fund do not exceed 1.62% and 1.37% for the Investor Class and Institutional Class shares of the Fund, respectively. The Expense Limitation Agreement will remain in effect through at least October 31, 2021, or sooner at the sole discretion of the Board. Additionally, effective April 1, 2020, Fiera Capital Inc. (the “Adviser”) has contractually agreed to waive 0.10% of the Fund’s Shareholder Servicing Fee (as defined in the Prospectus) through March 31, 2021. Please view the prospectus for more information regarding fees and expenses. 

Documentation

Senior Investment Team

Jocelyn Nga-Man TehJocelyn Nga-Man Teh

Senior Analyst

Jocelyn is a member of the Emerging Markets Select team. She has over 10 years of industry experience with an emphasis on analyzing Asian financial markets.

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Sandeep MuthangiSandeep Muthangi

Senior Analyst

Sandeep is a member of the Emerging Markets Select team. He has more than 12 years of fundamental investment analysis spanning various industries in the U.S, Japan, and India. Sandeep brings a bottom-up understanding of many technologies strengthened by his formal education in computer science and systems engineering.

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Joseph BlockJoseph Block

Senior Trader

Joseph is a member of the Emerging Markets Select team. He has over 13 years of experience trading across various markets.

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**The Fiera Emerging Markets Fund was formerly known as the City National Rochdale Emerging Markets Fund, a series of City National Rochdale Funds, and was reorganized into a series of the Fiera Capital Series Trust as of 6/4/18.  The Fund continues to be managed with the same investment approach and strategy.

There is no guarantee that the product will achieve any of these benefits.

Check the background of Foreside Fund Services, LLC on FINRA’s BrokerCheck.

To determine if this Fund is an appropriate investment for you, carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information may be found in the Fund’s prospectus, which may be obtained by calling 855-771-7119, or by clicking the linked files above. Please read the prospectus carefully before investing.

The Fiera Capital Emerging Markets Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with the adviser or any of its affiliates.

The Fund’s investments are subject to a variety of risks which may cause the Fund’s NAV to fluctuate over time. Therefore, the value of your investment in the Fund could decline and you could lose money. The actual risk exposure taken by the Fund in its investment program will vary over time. There is no assurance that the Adviser will achieve the Fund’s objective. The Fund is actively managed and its performance therefore will reflect, in part, the ability of the portfolio managers to make investment decisions that will achieve the Fund’s investment objective. Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives and/or strategies. For additional risks related to the Fund and the Fund’s investments, please see the most recent prospectus.

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. Investments in or exposure to foreign securities involve certain risks not associated with investments in or exposure to securities of U.S. companies. Foreign securities subject the Fund to the risks associated with investing in the particular country of an issuer, including the political, regulatory, economic, social, diplomatic and other conditions or events occurring in the country or region, as well as risks associated with less developed custody and settlement practices. Foreign securities may be more volatile and less liquid than securities of U.S. companies, and are subject to the risks associated with potential imposition of economic and other sanctions against a particular foreign country, its nationals or industries or businesses within the country.

Because the Fund may invest in a limited number of companies, the Fund as a whole is subject to greater risk of loss if any of those securities decline in price.

The Fund is non-diversified, which generally means that it will invest a greater percentage of its total assets in the securities of fewer issuers than a “diversified” fund. This increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a diversified fund holding a greater number of investments. Accordingly, the Fund’s value will likely be more volatile than the value of a more diversified fund.