Agf Management Limited Class B · TSX:AGF.B
Agf Management Limited Class B — Q2 2017 Earnings Presentation
13 slides from Agf Management Limited Class B's earnings presentation, Jun 28, 2017
Slide 1: AGF Management Limited Earnings Conference Call Q2 2017
AGF Management Limited EARNINGS CONFERENCE CALL SECOND QUARTER 2017 JUNE 28TH, 2017
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The forward looking information is provided as of June 28th, 2017. 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 securiti
Slide 3: Conference Call Participants
Conference Call Participants Blake C. Goldring, CFA Chairman & Chief Executive Officer Kevin McCreadie, CFA President & Chief Investment Officer Adrian Basaraba, CPA, CA, CFA Senior Vice-President & Chief Financial Officer 3
Slide 4: Today's Discussion
Today’s Discussion • Highlights of the 2nd Quarter of Fiscal 2017 • Business Updates – Retail Business – Investment Management – Institutional Business – Alternatives • Financial Results • Capital & Liquidity • Focus & Priorities 4
Slide 5: Q2 2017 Highlights
Q2 2017 Highlights Continued progress toward stated objectives Mutual Fund gross sales AUM Continued 30% increased progress with compared to prior year across all lines strategic quarter of business partners Final close achieved Improved Investment $740 Private Client AUM of Performance million $5.3
Slide 6: Line of Business Performance
Line of Business Performance ($ millions) Q2 2016 Q2 2017 Change Retail funds 17,539 18,884 8% Institutional, Sub Advisory and ETF 11,087 11,336 2% Private Client 4,586 5,323 16% Alternatives 535 902 69% Total 33,747 36,445 8% 6
Slide 7: Retail Business Review
Retail Business Review Trajectory continues to improve Mutual Fund Net Sales Q2 2015 Q2 2016 Q2 2017 • Gross sales improved 30% compared to the prior year quarter (107) • Net sales improved 62% compared to the prior year quarter • Industry sales continue to be (282) strong despite uncertainties (406
Slide 8: Investment Teams & Performance
Investment Teams & Performance Performance improvement on track to meet long term target AUM above median: Portfolios positioned 2 year AUM above 50% for client concerns median over 1 year, around risk, volatility, and global 57% 53% diversification bodes well for continued improvement in 3 year ove
Slide 9: Summary of Financial Results
Summary of Financial Results Sequential Quarter Year Over Year Fav / Fav / ($ millions, except per share amounts) Q2’17 Q1'17 Q2’17 Q2'16 (Unfav) (Unfav) Revenue 117.1 107.2 9.2% 117.1 111.1 5.4% SG&A 54.9 50.4 (8.9%) 54.9 54.0 (1.7%) Continuing Operations EBITDA 29.2 25.7 13.6% 29.2 26.2 11.5% EBIT
Slide 10: Financial Results – BPS Detail
Financial Results – BPS Detail EBITDA yield reflects AUM mix shift (bps of average AUM) Q2-17 TTM Average AUM ($B)1 35.0 33.9 Average Retail 18.6 18.0 Average Institutional and Private Client 16.4 15.9 Revenue (bps)2 121 122 Less: Trailer Fees (bps) 36 37 SG&A (bps)3 63 62 EBITDA (bps)2,3 21 24 (1)
Slide 11: Free Cash Flow
Free Cash Flow Dividend payout ratio remains within an acceptable range 20 21.2 15 16.4 ($ millions) 12.9 10 10.4 10.4 38% 49% 30% 60% 60% 5 - Q2 '16 Q3 '16 Q4 '16 Q1-17 Q2-17 Free Cash Flow Dividend % of Free Cash Flow (Payout Ratio) 11
Slide 12: 2017 Focus & Priorities
2017 Focus & Priorities Sustain Work towards improved consistent Execute our Leverage the net sales in AGFiQ investment growth plans retail mutual platform performance funds 12
Slide 13: Thank You!
Thank You! To learn more about AGF’s History visit: AGF.com/AGFStory 13