13 slides from Agf Management Limited Class B's earnings presentation, Mar 30, 2022
Slide 1: AGF Management Limited Earnings Conference Call First Quarter 2022
AGF Management Limited Earnings Conference Call First Quarter 2022 March 30th, 2022
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of March 30, 2022. 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 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 2022 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q1 2022 Highlights
Q1 2022 Highlights Assets1 of Increased $330 million $42.0 billion of mutual fund net sales quarterly dividend to $0.10 per share Diluted Positioned to accelerate growth in EPS of $0.18 FundGrade A+® Private Alternatives 125% higher than Awards2 Winner prior year (1) Includes AUM and fee-earning ass
Slide 6: Line of Business Performance: Assets Under Management and Fee-earning Assets
Line of Business Performance: Assets Under Management and Fee-earning Assets1 ($ millions) Q1 2022 Q1 2021 Change Mutual funds 23,625 21,394 10% Institutional, Sub-advisory & ETF 9,059 9,403 (4%) Private Client 7,102 6,300 13% Private Alternatives2 2,169 2,154 1% Total AUM and fee-earning assets 41,
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 1,033 1,032 100 989 -4% 95 YoY 92 -8% 900 YoY 83 79 790 67 648 431 40 376 355 -12% 33 33 330 288 YoY 22 -55% 18 YoY 11 66 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q4
Slide 8: Financial Results
Financial Results1 Sequential Quarter Year Over Year ($ millions, except per share amounts) Q1-22 Q4-21 Variance Q1-22 Q1-21 Variance Revenue 124.9 121.9 2.5% 124.9 107.3 16.4% SG&A 49.3 49.9 1.2% 49.3 48.0 (2.7%) Trailers and Subadvisory 35.6 36.5 2.5% 35.6 32.5 (9.5%) EBITDA before Commissions 40.
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1 (bps of average AUM) Q1-22 TTM Average AUM excl. Private Alternatives ($B)2 40.5 39.7 Average Mutual Fund 24.1 23.3 Average Institutional, Sub-Advisory, ETFs & 16.4 16.4 Private Client Revenue (bps)3 114 113 Less: Trailer Fees (bps) 36 36 SG&A (bps)4 49 50 EBITDA befo
Slide 10: Capital & Liquidity
Capital & Liquidity1 60 400% 58 55 350% 50 52 300% 46 40 42 250% ($ millions) 200% 30 150% 20 100% 57% 50% 45% 43% 42% 50% 10 0% - -50% TTM Q1-FY21 TTM Q2-FY21 TTM Q3-FY21 TTM Q4-FY21 TTM Q1-FY22 TTM FCF TTM Dividend to FCF % (1) Free cash flow represents cash available for distribution to our share
Slide 11: 2022 Focus & Priorities
2022 Focus & Priorities Build a diversified Deliver consistent Maintain sales private and repeatable momentum and alternatives investment generate net business with performance inflows $5 billion in assets1 Meet expense guidance Enhance while continuing Corporate to invest in key Sustainability grow
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 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+® calculation is supplemental to the monthly FundG