AGF Management Limited (AGF.B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, and welcome to the Q1 2025 AGF Management Limited Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you'll need to press star 11 on your telephone. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference, Mr. Tseng. You may begin. Thank you, Operator, and good morning, everyone. I'm Ken Tseng, Chief Financial Officer of AGF Management Limited. Today, we will be discussing the financial results of the first quarter of fiscal 2025. Slides supporting today's call and webcast can be found in the Investor Relations section of AGF.com. Also speaking on the call today will be Kevin McCready, Chief Executive Officer and Chief Investment Officer. For the Q&A, period following the presentation, Judy Goldring, President and Head of Global Distribution, and Ash Lawrence, Head of AGF Capital Partners, will also be available to address questions. Slide 4 provides the agenda for today's call. After the prepared remarks, we will be happy to take questions. With that, I will now turn the call over to Kevin. Thank you, Ken, and thank you everyone for joining us today. The first quarter of 2025 saw increased volatility as global markets grappled with the potential implications of trade wars and the highly uncertain macro backdrop. Despite the rise in market volatility, Q1 was a strong quarter for AJF. I'll begin with some highlights. AUM and fee earning assets were $53.8 billion at the end of Q1, up 20% from a year ago. Our retail and mutual fund business reported net sales of $342 million in the quarter. which is a significant improvement from Q4 and Q1 of last...