Agf Management Limited Class B · TSX:AGF.B
Agf Management Limited Class B — Q3 2022 Earnings Presentation
12 slides from Agf Management Limited Class B's earnings presentation, Sep 28, 2022
Slide 1: AGF Management Limited Earnings Conference Call Third Quarter 2022
AGF Management Limited Earnings Conference Call Third Quarter 2022 September 28, 2022
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of September 28, 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 secur
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 Jenny
Slide 4: Today's Discussion
Today’s Discussion • Highlights of the 3rd Quarter of Fiscal 2022 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q3 2022 Highlights
Q3 2022 Highlights Assets1 of Investment Performance $51 million outperformed $39.6 billion of mutual fund net sales target Diluted AGFIA2 accepted as Strong EPS of $0.32 signatory to UK Capital Position 52% higher than prior year Stewardship Code (1) Includes AUM and fee-earning assets. 5 (2) AGF I
Slide 6: Assets Under Management and Fee-earning Assets
Assets Under Management and Fee-earning Assets1,2 ($ billions) Q3 2022 Q3 2021 Change Mutual funds 22.5 23.8 (5%) Institutional, Sub-advisory & ETF 7.9 10.0 (21%) Private Wealth 7.0 7.3 (4%) Private Capital3 2.1 2.2 (5%) Total AUM and fee-earning assets 39.6 43.4 (9%) (1) Fee-earning assets represen
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 95 1,032 92 989 83 79 900 71 818 790 594 33 33 22 431 18 355 330 288 132 (11) 51 (20) Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 202
Slide 8: Financial Results
Financial Results1 Sequential Quarter Year Over Year ($ millions, except per share amounts) Q3-22 Q2-22 Variance Q3-22 Q3-21 Variance Revenue 112.5 117.5 (4.3%) 112.5 123.1 (8.6%) SG&A 46.4 47.3 1.9% 46.4 50.1 7.4% Trailers and Subadvisory 32.9 34.8 5.5% 32.9 35.5 7.3% EBITDA before Commissions 33.2
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1 (bps of average AUM) Q3-22 TTM Average AUM excl. Private Capital ($B)2 37.1 39.2 Average Mutual Fund 22.2 23.3 Average Institutional, Sub-Advisory, ETFs & 14.9 15.9 Private Wealth Revenue (bps)3 113 114 Less: Trailer Fees (bps) 35 36 SG&A (bps) 50 49 EBITDA before com
Slide 10: Capital & Liquidity
Capital & Liquidity1 70 400% 350% 60 60 59 58 300% 50 55 52 250% ($ millions) 40 200% 30 150% 100% 20 45% 44% 43% 42% 43% 50% 10 0% - -50% TTM Q3-FY21 TTM Q4-FY21 TTM Q1-FY22 TTM Q2-FY22 TTM Q3-FY22 TTM FCF TTM Dividend to FCF % (1) Free cash flow represents cash available for distribution to our sh
Slide 11: 2022 Focus & Priorities
2022 Focus & Priorities Build a diversified Deliver consistent Maintain sales private markets and repeatable momentum and business with investment generate net $5 billion performance inflows in assets1 Meet expense guidance Enhance while continuing Corporate to invest in key Sustainability growth ar
Slide 12: Thank You!
Thank You! To learn more about AGF’s history visit: www.agf.com/ca/en/about- agf/our-story To learn more visit AGF.com ® The “AGF” logo and “Invested in Discipline” are registered trademarks of AGF Management Limited and used under licence.