Gluskin Sheff + Associates Inc. Announces December 31, 2012 Assets Under
Management and Performance Fees and Performance Fee Special Dividend
TORONTO, Jan. 21, 2013 /CNW/ - Gluskin Sheff + Associates Inc. (the "Company")
announced today its Assets Under Management as at December 31, 2012, and its
Performance Fees for the quarter ending December 31, 2012.
Assets Under Management as at December 31, 2012, (net of Performance Fees)
were approximately $5.7 billion. Included in Assets Under Management are
$3.4 billion of assets with a performance fee year-end of December 31 and $1.9
billion with a performance fee year-end of June 30.
Performance Fees earned for the quarter ended December 31, 2012, were
approximately $32 million, bringing the total for the six months ended
December 31, 2012, to $34 million. Given the significant proportion of total
Assets Under Management with a December 31 performance year-end, the Company
has decided to consider the payment of a special dividend on a semi-annual
basis in respect of Performance Fees. Consequently, the Company today
declared a special dividend of $0.65 per common share payable on March 15,
2013, to shareholders of record on February 21, 2013. This special dividend
relates to Performance Fees earned during the six month period ended December
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 Subordinate Voting 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 www.gluskinsheff.com or at www.sedar.com. 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.
David Morris Chief Financial Officer (416) 681-6036
SOURCE: Gluskin Sheff + Associates Inc.
To view this news release in HTML formatting, please use the following URL:
CO: Gluskin Sheff + Associates Inc.
NI: FIN DIV ERN
-0- Jan/21/2013 14:57 GMT
Press spacebar to pause and continue. Press esc to stop.