AGF Management Limited Class B · TSX:AGF.B
AGF Management Limited Class B — Scotiabank Financials Summit 2012
12 slides from AGF Management Limited Class B's conference presentation, Sep 5, 2012
Slide 1: AGF Management Limited - Scotiabank Financials Summit 2012
Independent. Strong. Focused. AGF MANAGEMENT LIMITED SCOTIABANK FINANCIALS SUMMIT 2012
Slide 2: Scotiabank Financials Summit Guest Speaker
SCOTIABANK FINANCIALS SUMMIT GUEST SPEAKER Blake C. C Goldring, Goldring M.S.M., M S M CFA Chairman & Chief Executive Officer AGF Management Limited 2
Slide 3: Caution Regarding Forward-Looking Statements
CAUTION REGARDING FORWARD-LOOKING STATEMENTS The forward looking information is provided as of September 5, 2012. 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 4: Diversified, Independent, Global Wealth Management Leader
DIVERSIFIED, INDEPENDENT, GLOBAL WEALTH MANAGEMENT LEADER Investment Management Institutional & Sub-advisory Accounts High-net-worth Retail Funds $20.9B $19.0B Total AUM: $ 43.2 billion $3.3B We have grown from a retail fund-focused business to a global asset management firm that distributes product
Slide 5: Successful Growth of Our Investment Management Operations
SUCCESSFUL GROWTH OF OUR INVESTMENT MANAGEMENT OPERATIONS AGF Assets Under Management AUM Growth by Line of Business 30 $60 20.9 ns) 19.8 Retail ($ billion 53.7 20 10 6% Growth $50 46.0 44.6 42.8 43.0 43.2 0 2008 2012 $40 ($ billions)) 4.0 High-Net- Worth 35.6 3.3 3.0 33.3 33.9 34.1 3.0 ($ billions)
Slide 6: Sale of AGF Trust Completed: Exclusive Focus on Investment Management
SALE OF AGF TRUST COMPLETED: EXCLUSIVE FOCUS ON INVESTMENT MANAGEMENT • Sale of AGF Trust has been completed: • g $421.5 million cash was received on August 1st • AGF is now out of the lending business - a highly regulatory and capital intensive business • Effectively de de-risks risks the business
Slide 7: Redeployment of Capital to Grow Investment Management Operations
REDEPLOYMENT OF CAPITAL TO GROW INVESTMENT MANAGEMENT OPERATIONS Active on NCIB since Q2 SHARE Repurchased 3.2 million shares in Q3 BUYBACKS Repurchase total of 16% of shares over next 12-18 months GROWTH IN GLOBAL Adding new talent INVESTMENT INVESTMENT IN MANAGEMENT Improving performance in A
Slide 8: AGF Fund Performance Continues to Improve and Is the #1 Priority
AGF FUND PERFORMANCE CONTINUES TO IMPROVE AND IS THE #1 PRIORITY FOR AGF 1 year performance 3 year performance 50% 45% 43% Four AGF Portfolio 40% Managers rated “Top 35% Guns” by Brendon Wood 30% 29% I t International ti l 26% 25% 20% 17% 42 AGF funds rated either 15% 4-star or 5-star by 10% Morning
Slide 9: Global Team Update
GLOBAL TEAM UPDATE AUM ASSET • Spike in retail redemptions on announcement, which quickly RETENTION reduced and settled. BETTER THAN EXPECTED • Institutional AUM redemptions were modest • Funds have continued to outperform respective benchmarks PERFORMANCE • Clients are confident with PM Stephen Way
Slide 10: Free Cash Flow Generation Remains Strong
FREE CASH FLOW GENERATION REMAINS STRONG (1) Free Cash Flow Includes cash from sale of AGF Trust Dividend/Buybacks as % of Free Cash Flow (2) 74% (4) 76% 500 80% 70% 450 (3) 65% 61% 70% 400 454.7 60% 350 46% 300 50% ($ millions) 250 40% 200 30% 150 20% 100 50 10% 52.4 45.2 41.3 41.7 39.2 33.2 0 0% Q
Slide 11: Trade at an Attractive Yield and Valuation
TRADE AT AN ATTRACTIVE YIELD AND VALUATION Dividends paid per share $1.20 (2) $1.07 $1.08 $1 04 $1.04 Current Yield: $1.00 $1.00 $0.95 9.4%(1) $0.78 $0.80 $0 69 $0.69 $0.60 $0.56 $0.41 $0 40 $0.40 $0.30 $0.26 $0.22 $0.18 $0.20 $0.15 $0.13 $0.09 $0.00 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Slide 12: Thank you
AGF MANAGEMENT LIMITED Th k you Thank AGF Management Limited 12