AGF Management Limited (AGF.B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. Welcome to the fourth quarter 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 the session, you need to press star 1-1 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 AJF Management Limited. Today, we will be discussing the financial results for the fourth quarter and fiscal year 2025. Slides supporting today's call and webcast can be found in the investor relations section of AJF.com. Also speaking on the call today will be Judy Goldring, Chief Executive Officer. For the Q&A period following the presentation, Ash Lawrence, Head of AJF Capital Partners, and David Stonehouse, Interim Chief Investment Officer will also be available to address questions. Slide four 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 Judy. Good morning, and thank you for joining us. AGF has another outstanding year in 2025, where we made very strong progress against our strategic objectives. Our AUM and fee-earning assets crossed over $50 billion at the end of Q4, up 13% from a year ago. In Q4, we reported retail mutual fund net sales of $282 million, or 0.8% of mutual funds AUM in the quarter, outpacing the Canadian mutual fund industry of 0.5%. For the full year, our retail mutual fund net sales were close to $1 billion. Our ETFs and SMA $4 billion. AGF was named as one of Greater Toronto's top employers for 2026...