Gluskin Sheff + Associates Inc. disclosed its estimated assets under management (AUM) as at March 31, 2017, and the components of the change in AUM.
Estimated AUM as at March 31, 2017, was $8.9 billion, approximately 86% of which comprises high-net-worth clients. AUM increased by $134 million or 1.5% from December 31, 2016. This increase in AUM is attributable to positive net investment performance of $214 million, partially offset by net withdrawals of $80 million. Net withdrawals of $123 million from high-net-worth clients were partially offset by net additions of $43 million from institutional clients.
Read: Win the wealthy clients of the future
AUM includes assets with December 31 and June 30 performance year-ends, and non-performance fee assets. Any performance fees earned on assets with a performance year-end of June 30, 2017, will be reported in July 2017.
Fiera Capital grows revenue 64% with acquisitions