This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Gluskin Sheff + Associates Inc. Announces June 30, 2014 Assets Under Management And Performance Fees

Stocks in this article: GS

TORONTO, July 14, 2014 /CNW/ - Gluskin Sheff + Associates Inc. (the "Company") announced today its estimated Assets Under Management (AUM) as at its fiscal year ended June 30, 2014, the components of the change in AUM during the quarter ended June 30, 2014, and the unaudited estimate of Performance Fees earned for the six months ended June 30, 2014, primarily with respect to those Funds and segregated accounts with a performance year-end of June 30 th.

Estimated Assets Under Management as at June 30, 2014, were $7.5 billion.  Included in AUM are $2.3 billion of assets with a June 30 performance year-end and $4.9 billion of assets with a December 31 performance year end.  AUM increased by $250 million to $7.5 billion as at June 30, 2014, up 3.5% from March 31, 2014.  The increase in AUM is attributable to positive net investment performance of $165 million and net additions of $85 million$71 million in net additions were from high net worth clients and $14 million in net additions were from institutional clients.

The Company estimates that Performance Fees earned during the six months ended June 30, 2014, were approximately $55 million, and relate primarily to those Funds and segregated accounts with a performance year-end of June 30 th.  The Company's Board of Directors will, in due course, consider the most appropriate use of the Company's cash resources, including potential special dividends and other uses, after an allocation to the employee bonus pool and a provision for income taxes related to these Performance Fees.  As previously announced, the Company earned Performance Fees of $101 million during the six months ended December 31, 2013, primarily with respect to those Funds with a performance year-end of December 31 st.  A special dividend of $1.40 per share was paid on February 28, 2014, in respect of these Performance Fees.

As previously announced on June 2, 2014, the Company has entered into an agreement to acquire all of the outstanding shares of Blair Franklin Management Holdings Inc., the parent company of Blair Franklin Asset Management Inc. ("Blair Franklin").  Closing of the transaction is subject to certain closing conditions, including the approval of the Toronto Stock Exchange and other securities regulatory approvals/non-objections, and is expected to occur in the third quarter of calendar 2014.  Consequently, the above financial information does not include any amounts relating to Blair Franklin.

Founded in 1984, Gluskin Sheff + Associates Inc. is one of Canada's pre-eminent wealth management firms serving high net worth private clients and institutional investors. Gluskin Sheff offers equity and fixed income investment portfolios in addition to being one of the largest managers of alternative investments in Canada. The Company's Common Shares are listed on the Toronto Stock Exchange under the symbol "GS". For more information about the Company, please visit our website at

This press release may contain forward-looking statements relating to Gluskin Sheff + Associates Inc.'s business and the environment in which it operates. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's website at or at Actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances, except as required by applicable law.

SOURCE Gluskin Sheff + Associates Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs