Agf Management Limited Class B · TSX:AGF.B
Agf Management Limited Class B — Q3 2020 Earnings Presentation
12 slides from Agf Management Limited Class B's earnings presentation, Sep 23, 2020
Slide 1: AGF Management Limited Earnings Conference Call Third Quarter 2020
AGF Management Limited Earnings Conference Call Third Quarter 2020 September 23rd, 2020
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of September 23rd, 2020. 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 sec
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 3rd Quarter of Fiscal 2020 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q3 2020 Highlights
Q3 2020 Highlights Continued progress toward stated objectives Expanded private credit Established the capability through AGF Alternatives partnership with Advisory Committee PRI’s 2020 Adjusted diluted Assessment Report EPS of $0.19 SG&A efficiency Strategy and Governance: A+ Listed Equity – Incorp
Slide 6: Line of Business Performance
Line of Business Performance ($ millions) Q3 2019 Q3 2020 Change Mutual funds 18,839 19,232 2% Institutional, Sub-advisory & ETF 10,391 9,252 (11%) Private Client 5,778 5,773 (0.1%) Private Alternatives 2,413 2,755 14% Total 37,421 37,012 (1%) 6
Slide 7: Mutual Fund Business Review
Mutual Fund Business Review IFIC Industry Net Sales ($B)1 AGF Retail Mutual Fund Net Sales ($M)2 10.8 3.5 (4) (93) (103) (15.1) Q3 2019 Q2 2020 Q3 2020 Q3 2019 Q2 2020 Q3 2020 (1) Industry long-term funds net sales per IFIC. (2) Retail mutual fund net sales (redemptions) calculated as reported mutua
Slide 8: Financial Results
Financial Results Adjusted for one-time items noted in the MD&A and restated for IFRS 161,2,3,4 Sequential Quarter Year Over Year ($ millions, except per share amounts) Q3-20 Q2-20 Variance Q3-20 Q3-19 Variance Revenue 106.2 89.0 19.3% 106.2 107.4 (1.1%) SG&A 46.1 40.2 (14.7%) 46.1 46.1 0.0% Includi
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1,2 (bps of average AUM) Q3-20 TTM Average AUM excl. Private Alternatives ($B)3 33.9 34.6 Average Mutual Fund 18.9 18.7 Average Institutional, Sub-Advisory, ETFs & 15.1 15.9 Private Client Revenue (bps)4 111 110 Less: Trailer Fees (bps) 35 34 SG&A (bps)5 54 51 EBITDA be
Slide 10: Capital & Liquidity
Capital & Liquidity 60 400% 55 350% 50 53 51 51 49 300% 40 250% ($ millions) 200% 30 150% 20 100% 49% 47% 49% 51% 45% 50% 10 0% - -50% TTM Q3-FY19 TTM Q4-FY19 TTM Q1-FY20 TTM Q2-FY20 TTM Q3-FY20 TTM FCF TTM Dividend to FCF % 10
Slide 11: 2020 Focus & Priorities
2020 Focus & Priorities Deliver Position AGF Meet expense Drive the to reach guidance of consistent and repeatable organization to $5 billion $180 million sustainable in private while continuing investment net inflows alternative to invest in key performance assets 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