AGF Management Limited Class B · TSX:AGF.B
AGF Management Limited Class B — Scotiabank Financials Summit 2013
11 slides from AGF Management Limited Class B's conference presentation, Sep 4, 2013
Slide 1: AGF Management Limited - Scotiabank Financials Summit
SEPTEMBER 4, 2013 AGF MANAGEMENT LIMITED Scotiabank Financials Summit
Slide 2: Caution regarding forward-looking statements
Caution regarding forward-looking statements The forward looking information is provided as of September 4, 2013. 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 securi
Slide 3: AGF: a global investment management company
AGF: a global investment management company Total AUM: $36.8 billion* ¾ Established in 1957 ¾ An independent firm focused solely $3.7 on investment management ¾ Culture of innovation ¾ Diversified across business $19.1 $14.0 segments, products and geographies ¾ Strong financial position Retail Insti
Slide 4: Diversified, independent, global wealth management leader
Diversified, independent, global wealth management leader Our global focus applies to our investment capabilities as well as our distribution footprint Calgary London, ON Dublin Ottawa London, U.K. Vancouver Montreal Beijing Toronto 32% Hong Kong Singapore 68% Global Equity represents 32% of AUM *As
Slide 5: Retail business context
Retail business context AUM MIX: BANKS VS. NET NEW SALES: BANKS VS. INDEPENDENTS INDEPENDENTS ($B) 75% 25.6 57% 43% 25% 2.0 0.4 Balanced & Fixed Income Equity (5.5) Balanced & Fixed Income Equity Banks Independents Banks Independents Source: IFIC Primary View, June 30, 2013. Long term funds only. Tr
Slide 6: Retail business update
Retail business update Product innovation has led to improvement in our retail segment Net Redemption Improvement vs. Previous Year 35% 25% 15% 5% (5%) Dec. '12 Jan. '13 Feb. '13 Mar.'13 Apr. '13 May '13 Jun. '13 Jul-13 (15%) (25%) (35%) 6
Slide 7: Institutional business context
Institutional business context Global institutional distribution network Institutional AUM by Geography* London, ON Dublin 7% London, U.K. Vancouver Boston Beijing 16% 33% Toronto Hong Kong 43% Canada Europe America Asia *As at July 31, 2013. Excludes subadvisory. 7
Slide 8: Demand for institutional products
Demand for institutional products Flagship institutional mandates compete in a growing and profitable niche Total AUM: $1.5T Total Revenue: $9.4B • US market represents a 200 Emerging markets 1.7 large opportunity 280 Global core 1.7 • Average fees: Global core 58 bps EM 82 bps All other global
Slide 9: Free cash flow
Free cash flow AGF’s payout ratio remains within an acceptable range, balance sheet is strong Free Cash Flow Dividend % of Free Cash Flow (Payout Ratio) $357m 40 400 160% 142% 140% 30 29.0 27.7 24.9 120% 24.4 ($ millions) 100% 20 17.7 95% 96% 87% 80% 84% 60% 10 40% 20% - 0% Q2 2012 Q3 2012 Q4 2012 Q
Slide 10: Deployment of capital
Deployment of capital AGF will employ a principled approach to deploy capital to fund growth and to benefit our shareholders repurchased 8.9m shares for $102m over past 4 quarters (9% of total Share buybacks shares) dividend takes priority over NCIB Growth in global investment focus on improvi
Slide 11: Dividends per Share
An attractive yield AGF has an attractive yield with a strong history of rewarding shareholders via dividends Dividends per Share $1.20 (2) Current $1.07 $1.08 $1.08 $1.04 $1.00 $1.00 Yield: 8.4%(1) $0.95 $0.78 $0.80 Dividends per Share $0.69 $0.60 $0.56 $0.41 $0.40 $0.30 $0.26 $0.22 $0.18 $0.20 $0.