12 slides from Agf Management Limited Class B's earnings presentation, Jun 30, 2021
Slide 1: AGF Management Limited Earnings Conference Call Second Quarter 2021
AGF Management Limited Earnings Conference Call Second Quarter 2021 June 30th, 2021
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of June 30, 2021. Certain information presented in these remarks and in this presentation that is not historical factual information may constitute forward-looking information within the meaning of securities
Slide 3: Conference Call Participants
Conference Call Participants Presenting Kevin McCreadie, CFA, MBA Chief Executive Officer & Chief Investment Officer Adrian Basaraba, CPA, CA, CFA Senior Vice-President & Chief Financial Officer Available for questions Judy G. Goldring, LL.B, LL.D, ICD.D President & Head of Global Distribution 3
Slide 4: Today's Discussion
Today’s Discussion • Highlights of the 2nd Quarter of Fiscal 2021 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q2 2021 Highlights
Q2 2021 Highlights Continued progress toward stated objectives Mutual fund Wealth Professional Assets1 reached gross sales of Awards Winner $40.8 billion $1.1 billion & net Digital Innovator of the Year sales of $0.4 billion Employer of Choice AGFWave Private Credit Increased quarterly new strategy
Slide 6: Line of Business Performance: Assets Under Management and Fee-earning Assets
Line of Business Performance: Assets Under Management and Fee-earning Assets1 ($ millions) Q2 2020 Q2 2021 Change Mutual funds 18,259 22,290 22% Institutional, Sub-advisory & ETF 9,591 9,713 1% Private Client 5,624 6,689 19% Private Alternatives2 2,288 2,117 (7%) Total AUM and fee-earning assets 35,
Slide 7: Mutual Fund Business Review
Mutual Fund Business Review Industry Sales ($B)1 AGF Retail Mutual Fund Sales ($M)2 Gross Sales Net Sales Gross Sales Net Sales +84% +129% +36% +63% YoY YoY YoY YoY 1,033 1,032 100.0 94.8 73.6 67.2 648 58.3 56.8 562 490 450 431 39.9 376 +$524 33.0 YoY +$517 YoY 16.1 10.8 11.0 66 (4) (93) (15.1) (141
Slide 8: Financial Results
Financial Results1,2 Sequential Quarter Year Over Year Q2-21 Q1-21 Variance Q2-21 Q2-20 Variance ($ millions, except per share amounts) Revenue 109.5 107.3 2.1% 109.5 89.0 23.0% SG&A 47.1 48.0 1.9% 47.1 40.2 (17.2%) Trailers and Subadvisory 34.2 32.5 (5.2%) 34.2 27.6 (23.9%) EBITDA before Commission
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1,2 (bps of average AUM) Q2-21 TTM Average AUM excl. Private Alternatives ($B)3 38.1 35.8 Average Mutual Fund 22.0 20.4 Average Institutional, Sub-Advisory, ETFs & 16.1 15.5 Private Client Revenue (bps)4 113 113 Less: Trailer Fees (bps) 35 35 SG&A (bps)5 49 52 EBITDA be
Slide 10: Capital & Liquidity
Capital & Liquidity1 60 400% 350% 55 50 49 300% 46 46 40 42 250% ($ millions) 200% 30 150% 20 100% 51% 53% 57% 50% 45% 50% 10 0% - -50% TTM Q2-FY20 TTM Q3-FY20 TTM Q4-FY20 TTM Q1-FY21 TTM Q2-FY21 TTM FCF TTM Dividend to FCF % (1) Free cash flow represents cash av ailable for distribution to our shar
Slide 11: 2021 Focus & Priorities
2021 Focus & Priorities Position AGF Deliver Drive the to reach Meet expense consistent and guidance repeatable organization to $5 billion sustainable while continuing in private investment to invest in key net inflows alternative performance growth areas assets1 (1) Private alternative assets inclu
Slide 12: Thank You!
Thank You! To learn more about AGF’s history visit: www.agf.com/ca/en/about- agf/our-story