This $100 Billion Fund Manager Says Canadian Stocks Are About to Bounce
- Fiera Capital sees S&P/TSX rising 13% as global economy purrs
- ‘We’re just going to need this political noise to recede’
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Canada’s dismal stock market performance has just about run its course, according to Quebec’s biggest independent fund manager, which predicts a 13 percent rally by year-end.
Fiera Capital Corp., with C$129 billion ($102 billion) in assets under management, sees the S&P/TSX Composite Index hitting 17,300 by the end of 2018 as global growth finally gives the resource-heavy benchmark a kick. That’s up from an earlier forecast of 16,900 at the beginning of the year and Tuesday’s close of 15,262.