Agf Management Limited Class B · TSX:AGF.B
Agf Management Limited Class B — Q1 2023 Earnings Presentation
13 slides from Agf Management Limited Class B's earnings presentation, Mar 22, 2023
Slide 1: AGF Management Limited Earnings Conference Call First Quarter 2023
AGF Management Limited Earnings Conference Call First Quarter 2023 March 22, 2023
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward-looking information is provided as of March 22, 2023. 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 securitie
Slide 3: Conference Call Participants
Conference Call Participants Presenting Kevin McCreadie, CFA, MBA Chief Executive Officer & Chief Investment Officer Jenny Quinn Vice-President & Interim 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 1st Quarter of Fiscal 2023 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q1 2023 Highlights
Q1 2023 Highlights Assets1 of Investment Performance $221 million outperformed $41.9 billion of mutual fund net sales target and peers Increased quarterly Diluted FundGrade A+® dividend EPS of $0.26 Awards2 Winner to $0.11 per share (1) Includes AUM and fee-earning assets. (2) AGF American Growth Cl
Slide 6: Assets Under Management and Fee-earning Assets
Assets Under Management and Fee-earning Assets1,2 ($ millions) Q1 2023 Q1 2022 Change Mutual funds 24,029 23,625 2% Institutional, Sub-advisory & ETF 8,511 8,751 (3%) Private Wealth 7,252 7,410 (2%) Private Capital3 2,136 2,169 (2%) Total AUM and fee-earning assets 41,928 41,955 (0%) (1) Fee-earning
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 92 989 982 79 900 71 818 49 672 45 594 22 18 355 330 227 (9) 132 (11) 76 (20) 51 (28) Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 202
Slide 8: Financial Results
Financial Results1 Sequential Quarter Year Over Year ($ millions, except per share amounts) Q1-23 Q4-22 Variance Q1-23 Q1-22 Variance Net management, advisory and admin fees2 73.0 70.5 3.5% 73.0 77.0 (5.2%) Other Revenue3 7.1 11.2 (36.6%) 7.1 12.3 (42.3%) Total Net Revenue 80.1 81.7 (2.0%) 80.1 89.3
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1 Sequential Quarter TTM (bps of average AUM) Q1-23 Q4-22 TTM Average AUM excl. Private Capital ($B)2 39.4 37.6 38.3 Average Mutual Fund 23.8 22.5 22.9 Average Institutional, Sub-Advisory, 15.6 15.1 15.4 ETFs & Private Wealth Net management, advisory and admin fees (bps
Slide 10: Capital & Liquidity
Capital & Liquidity1 80 400% 76 350% 70 70 300% 60 60 59 58 250% 50 ($ millions) 200% 40 150% 30 100% 20 42% 43% 44% 37% 35% 50% 10 0% - -50% TTM Q1-FY22 TTM Q2-FY22 TTM Q3-FY22 TTM Q4-FY22 TTM Q1-FY23 TTM FCF TTM Dividend to FCF % (1) Free cash flow represents cash available for distribution to our
Slide 11: 2023 Focus & Priorities
2023 Focus & Priorities Deliver consistent Maintain sales and repeatable momentum and Build a diversified private markets investment generate net business performance inflows Meet expense guidance Enhance while continuing Corporate to invest in key Sustainability growth areas 11
Slide 12: Thank You!
Thank You! To learn more about AGF’s history visit: www.agf.com/ca/en/about- agf/our-story To learn more visit AGF.com ® The “AGF” logo and “Invested in Discipline” are registered trademarks of AGF Management Limited and used under licence.
Slide 13: DISCLAIMER
DISCLAIMER About the Fundata FundGrade A+ Rating FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculatio