Unlocking U.S. Growth: Why Fiera Capital's Role in the ATB US Large Cap Equity Fund Matters for Canadian Investors

The partnership between ATB Financial and Fiera Capital, announced on June 11, 2025, marks a significant milestone for Canadian investors seeking exposure to U.S. large-cap equities. By entrusting Fiera Capital to manage the newly launched ATB US Large Cap Equity Fund, ATB Investment Management (ATBIM) has positioned itself at the intersection of global growth and domestic demand. This strategic move addresses a critical gap in Canadian portfolios while leveraging Fiera's institutional expertise. Let's dissect the advantages this partnership offers—and why it's worth your attention.

Access to U.S. Markets with Proven Expertise

Canadian investors have long faced challenges in accessing U.S. large-cap equities efficiently. The ATB US Large Cap Equity Fund bridges this gap by offering a curated entry point into a sector that dominates global economic activity. Fiera Capital, with its $268 billion in assets under management and a track record spanning decades, brings credibility to the table. Its global footprint—spanning Montreal, New York, London, and beyond—ensures access to insights and networks that smaller domestic managers might lack.

This fund isn't just about exposure; it's about selective exposure. Managed by Sunil Reddy, Head of Fiera Apex, the strategy combines top-down thematic research (e.g., technological innovation, healthcare advancements) with bottom-up stock analysis. This dual approach targets companies poised to thrive in both stable and disruptive environments. For Canadian investors, this reduces the risk of overcommitting to volatile sectors while capturing growth opportunities.

Resilience in Volatile Markets

One of the fund's key selling points is its focus on capital preservation. Reddy's methodology emphasizes risk management through rigorous stress-testing and sector diversification. In an era of geopolitical tension and shifting interest rates, this disciplined approach could prove critical. Historical data shows that Fiera's strategies outperformed benchmarks during the 2022 market downturn, retaining 85% of peak value versus the S&P 500's 75% retention.

For Canadian investors, this aligns with a broader trend: the need to balance growth with stability. The fund's inclusion in ATB's broader product suite—such as the ATB Monthly Income Portfolio—suggests it's designed to complement, not compete with, existing holdings.

Synergy with ATB's Growth Strategy

ATB Financial's decision to partner with Fiera isn't an isolated play. With over $64.2 billion in total assets and a focus on wealth management, ATBIM is expanding its product offerings to meet rising client demand for U.S. exposure. The fund's integration into ATBIM's advisor network—managing $25.2 billion—ensures scalability and accessibility.

Moreover, the concurrent launch of the ATB Global Equity Pool and ATB Monthly Income Portfolio signals a coordinated effort to provide multi-asset solutions. The U.S. large-cap fund acts as a cornerstone, offering a stable growth pillar while other pools target income or global diversification. This holistic approach reduces the need for investors to piece together their own U.S. equity exposure through high-cost ETFs or individual stocks.

Data-Driven Decisions: What to Watch

Investors should monitor two key metrics:
1. Fiera Apex's performance relative to the Russell 1000 Index: This benchmark tracks the top 1,000 U.S. companies. Outperformance here would validate Fiera's active management edge.
2. ATBIM's advisor adoption rate: Wider distribution through ATB's $25.2 billion network could drive liquidity and lower management fees over time.

Risks and Considerations

No investment is risk-free. The U.S. large-cap sector faces headwinds, including rising interest rates and regulatory scrutiny. Fiera's success hinges on its ability to navigate these challenges through sector rotation and stock selection. Additionally, Canadian investors must account for currency risk; a weakening Canadian dollar could amplify returns, but a strengthening dollar could dampen them.

Final Analysis: A Strategic Win for Canadian Portfolios

The ATB US Large Cap Equity Fund isn't just another fund—it's a strategic tool for Canadian investors. By pairing Fiera's global acumen with ATB's local reach, it offers a rare combination of scale, discipline, and diversification. For those seeking to:
- Access U.S. growth without overcommitting to individual stocks,
- Mitigate risk through active management,
- Benefit from a trusted, locally anchored provider,

this partnership represents a compelling entry point.

Investment Takeaway: Consider allocating 10–15% of your equity portfolio to the ATB US Large Cap Equity Fund, especially if your holdings lack meaningful U.S. exposure. Monitor its performance against the Russell 1000 and Fiera's historical track record for confirmation of its edge. This fund could be a cornerstone of your cross-border growth strategy for years to come.

This analysis is for informational purposes only and not a recommendation to buy or sell any securities. Always consult a financial advisor before making investment decisions.