Agf Management Limited Class B · TSX:AGF.B
Agf Management Limited Class B — Q1 2020 Earnings Presentation
13 slides from Agf Management Limited Class B's earnings presentation, Mar 25, 2020
Slide 1: AGF Management Limited Earnings Conference Call First Quarter 2020
AGF Management Limited Earnings Conference Call First Quarter 2020 March 25th, 2020
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of March 25t h, 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 securi
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 1st Quarter of Fiscal 2020 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q1 2020 Highlights
Q1 2020 Highlights Continued progress toward stated objectives FundGrade One U.S. ETF a Mutual fund A+® Awards1 finalist for 2019 gross sales up 9% AGF Global Convertible Bond Fund | ETF of the Year year over year AGF Global Select Fund | AGFiQ Global Income ETF Portfolio (QMY) by ETF.com Private Al
Slide 6: Line of Business Performance
Line of Business Performance ($ millions) Q1 2019 Q1 2020 Change Mutual funds 19,028 18,492 (3%) Institutional, Sub-advisory & ETF 12,023 10,313 (14%) Private Client 5,633 5,905 5% Private Alternatives 2,140 2,716 27% Total 38,824 37,426 (4%) 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 42.4 23.9 (104) (141) (181) (9.7) TTM Ending TTM Ending TTM Ending Feb 28, 2018 Feb 28, 2019 Feb 29, 2020 Q1 2019 Q4 2019 Q1 2020 (1) Industry long-term funds net sales per IFIC. (2) Retail mutual fund n
Slide 8: Financial Results
Financial Results Adjusted for one-time items noted in the MD&A and restated for IFRS 16 1 Sequential Quarter Year Over Year Fav / Fav / ($ millions, except per share amounts) Q1-20 Q4-192 Q1-20 Q1-193 (Unfav) (Unfav) Revenue 106.7 110.4 (3.4%) 106.7 105.0 1.6% SG&A 45.3 44.2 (2.5%) 45.3 46.8 3.2% C
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1,2 (bps of average AUM) Q1-20 TTM Average AUM excl. Private Alternatives ($B)3 36.2 36.1 Average Mutual Fund 19.5 19.2 Average Institutional, Sub-Advisory, ETFs & 16.7 17.0 Private Client Revenue (bps)4 110 110 Less: Trailer Fees (bps) 34 34 SG&A (bps)5 51 51 EBITDA be
Slide 10: Capital & Liquidity
Capital & Liquidity1 60 4 4 50 54 53 51 51 51 3 40 3 ($ millions) 2 30 2 20 1 49% 46% 49% 47% 49% 1 10 0 - (1) TTM Q1-FY19 TTM Q2-FY19 TTM Q3-FY19 TTM Q4-FY19 TTM Q1-FY20 TTM Adjusted FCF TTM Dividend to FCF % (1) Q2-2018 adjusted for one-time restructuring costs of $3.8m (net of tax ). Q1-2019 does
Slide 11: 2020 Focus & Priorities
2020 Focus & Priorities Deliver Position AGF Meet expense Drive the to reach guidance of consistent and organization to $5 billion $180 million repeatable 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
Slide 13: Disclaimer
Disclaimer FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserv ed. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian inv estment funds. The FundGrade A+® calculation is supplemental to the monthly Fun