12 slides from Agf Management Limited Class B's earnings presentation, Mar 31, 2021
Slide 1: AGF Management Limited Earnings Conference Call First Quarter 2021
AGF Management Limited Earnings Conference Call First Quarter 2021 March 31st, 2021
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of March 31, 2021. 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 2021 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q1 2021 Highlights
Q1 2021 Highlights Continued progress toward stated objectives Mutual fund gross Robust Momentum across sales up 85% year all lines of business over year to institutional $1 billion pipeline AUM reached Mutual fund Private credit net sales of Canadian offering $39.8 billion $0.4 billion underway 5
Slide 6: Line of Business Performance
Line of Business Performance ($ millions) Q1 2020 Q1 2021 Change Mutual funds 18,492 21,394 16% Institutional, Sub-advisory & ETF 10,313 9,403 (9%) Private Client 5,905 6,300 7% Private Alternatives 2,716 2,689 (1%) Total 37,426 39,786 6% 6
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 +84% YoY +36% YoY 1,033 100.0 +21% YoY +35% YoY 73.6 67.2 648 55.6 58.3 56.8 562 479 490 +$517 450 YoY 39.9 376 16.1 +$247 10.8 11.0 YoY 3.8 66 (4) (93) (15.1) (141) (181)
Slide 8: Financial Results
Financial Results Adjusted for one-time items noted in the MD&A1,2 Sequential Quarter Year Over Year ($ millions, except per share amounts) Q1-21 Q4-20 Variance Q1-21 Q1-20 Variance Revenue 107.3 105.0 2.2% 107.3 106.7 0.6% SG&A 48.0 43.1 (11.4%) 48.0 45.3 (6.0%) Including S&WHL Trailers and Subadvi
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1,2 (bps of average AUM) Q1-21 TTM Average AUM excl. Private Alternatives ($B)3 36.8 34.5 Average Mutual Fund 21.1 19.2 Average Institutional, Sub-Advisory, ETFs & 15.7 15.3 Private Client Revenue (bps)4 113 111 Less: Trailer Fees (bps) 36 35 SG&A (bps)5 53 52 EBITDA be
Slide 10: Capital & Liquidity
Capital & Liquidity1 60 400% 55 350% 50 51 49 300% 46 40 42 250% ($ millions) 200% 30 150% 20 100% 49% 51% 53% 57% 45% 50% 10 0% - -50% TTM Q1-FY20 TTM Q2-FY20 TTM Q3-FY20 TTM Q4-FY20 TTM Q1-FY21 TTM FCF TTM Dividend to FCF % (1) Free cash flow represents cash av ailable for distribution to our shar
Slide 11: 2021 Focus & Priorities
2021 Focus & Priorities Position AGF Deliver Drive the Meet expense to reach consistent and guidance repeatable organization to $5 billion sustainable while continuing in private investment to invest in key net inflows alternative performance growth areas assets 11
Slide 12: Thank You!
Thank You! To learn more about AGF’s history visit: www.agf.com/ca/en/about- agf/our-story