12 slides from Agf Management Limited Class B's earnings presentation, Jun 22, 2022
Slide 1: AGF Management Limited Earnings Conference Call Second Quarter 2022
AGF Management Limited Earnings Conference Call Second Quarter 2022 June 22nd, 2022
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of June 22, 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 securities
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 2nd Quarter of Fiscal 2022 • Business Updates • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q2 2022 Highlights
Q2 2022 Highlights Assets1 of Investment Performance $132 million outperformed $40.3 billion of mutual fund net sales target Diluted Strong EPS of $0.14 Celebrated Capital Position 100% higher than 65th Anniversary prior year (1) Includes AUM and fee-earning assets. 5
Slide 6: Assets Under Management and Fee-earning Assets
Assets Under Management and Fee-earning Assets1 ($ billions) Q2 2022 Q2 2021 Change Mutual funds 22.8 22.3 3% Institutional, Sub-advisory & ETF 8.4 9.7 (14%) Private Client 6.9 6.7 4% Private Alternatives2 2.1 2.1 0% Total AUM and fee-earning assets 40.3 40.8 (1%) (1) Fee-earning assets represents a
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 1,032 989 100 95 900 92 818 83 790 79 40 431 376 355 33 33 330 288 22 18 132 (11) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2
Slide 8: Financial Results
Financial Results1 Sequential Quarter Year Over Year ($ millions, except per share amounts) Q2-22 Q1-22 Variance Q2-22 Q2-21 Variance Revenue 117.5 124.9 (5.9%) 117.5 109.5 7.3% SG&A 47.3 49.3 4.1% 47.3 47.1 (0.4%) Trailers and Subadvisory 34.8 35.6 2.2% 34.8 34.2 (1.8%) EBITDA before Commissions 35
Slide 9: Financial Results – BPS Detail
Financial Results – BPS Detail1 (bps of average AUM) Q2-22 TTM Average AUM excl. Private Alternatives ($B)2 39.0 39.9 Average Mutual Fund 23.2 23.6 Average Institutional, Sub-Advisory, ETFs & 15.8 16.3 Private Client Revenue (bps)3 115 114 Less: Trailer Fees (bps) 35 36 SG&A (bps)4 48 49 EBITDA befo
Slide 10: Capital & Liquidity
Capital & Liquidity1 70 400% 350% 60 60 58 300% 55 50 52 250% 46 ($ millions) 40 200% 30 150% 100% 20 50% 45% 43% 42% 43% 50% 10 0% - -50% TTM Q2-FY21 TTM Q3-FY21 TTM Q4-FY21 TTM Q1-FY22 TTM Q2-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 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 To learn more visit AGF.com ® The “AGF” logo and “Invested in Discipline” are registered trademarks of AGF Management Limited and used under licence.