Latest news with #AGFManagement
Yahoo
17 hours ago
- Business
- Yahoo
AGF Management Ltd (AGFMF) Q2 2025 Earnings Call Highlights: Strong AUM Growth Amid Market ...
AUM and Fee Earning Assets: $53.5 billion at the end of Q2, up 12% year-over-year. Mutual Fund AUM: $31 billion, up 15% year-over-year. SMA and ETF AUM: Increased 54% year-over-year to $2.8 billion. Adjusted Diluted EPS: $0.39 for the quarter. Net Sales in Retail Mutual Fund Business: $65 million for the quarter. Adjusted EBITDA: $40 million, $8 million lower than Q1, $3 million higher than the prior year. SG&A Expenses: $60 million, $4 million lower than Q1. Adjusted Net Income: $26 million for the quarter. Free Cash Flow: $24 million for the quarter. Dividend Declared: $0.125 per share for Q2 2025. Net Debt: $50 million with $166 million available on the credit facility. Share Buybacks: 237,000 shares repurchased for approximately $2.4 million. Warning! GuruFocus has detected 2 Warning Signs with NG. Release Date: June 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AGF Management Ltd (AGFMF) reported a 12% year-over-year increase in AUM and fee-earning assets, reaching $53.5 billion. The company's SMA and ETF business saw a significant 54% year-over-year growth in AUM, reaching $2.8 billion. AGF Investments' retail mutual fund business outpaced the Canadian mutual fund industry with net sales of $65 million in the quarter. The company was recognized as the Mutual Fund Provider of the Year at the 2025 Wealth Professional Awards, highlighting its innovative product lineup. AGF Management Ltd (AGFMF) declared a $0.125 per share dividend for Q2 2025, demonstrating a commitment to returning capital to shareholders. Average AUM was down 3% compared to Q1 due to market volatility. Adjusted EBITDA for the quarter was $40 million, $8 million lower than Q1, primarily due to an outsized long-term investment gain in Q1. Free cash flows for the quarter were $24 million, down $8 million from Q1, mainly due to higher distribution income in the previous quarter. Net management fees were $1 million lower than the prior quarter, reflecting market volatility and shifts in asset allocation. The company experienced a decrease in adjusted revenue from AGF Capital Partners by $9 million compared to the previous quarter, due to outsized revenues from long-term investments in Q1. Q: Given the volatile markets in recent months, have you observed similar trends in your net flows, and which funds are seeing more momentum? A: Judy Goldring, President and Head of Global Distribution, noted that AGF saw similar trends as the industry, with $65 million in net sales for retail, marking the fourth consecutive quarter of positive retail sales. The Global Select and American growth mandates, along with the European equity mandate, have been key areas of interest. As of June, the momentum is essentially flat. Q: How does the new US proposed rule section [899] regarding taxing dividends impact your US equity funds and strategies? A: Ken Tsang, CFO, explained that while the bill's passage remains uncertain, AGF's exposure is relatively muted due to their global fund nature and growth-oriented focus. Kevin McCreadie, CEO, added that AGF's minimal fixed income component further reduces potential impact. Q: There was a noticeable increase in buybacks this quarter. What are your thoughts on future buyback activity and capital allocation priorities? A: Kevin McCreadie, CEO, stated that AGF maintains a balanced capital approach, recently focusing on growth investments. With a conservative dividend payout ratio, AGF may accelerate share repurchases, especially given the current industry pipeline. Q: Can you elaborate on the lower management fees and how they fit into your basis point decline guidance? A: Ken Tsang, CFO, mentioned that the decline in management fees is partly due to outsized success fees from the previous year. The shift towards fee-based channels and growth in ETFs and SMAs, which have lower management fees but minimal marginal costs, has contributed to this trend. Q: Why is severance consistently stripped out of SG&A adjustments, and when will adjusted SG&A not include these expenses? A: Kevin McCreadie, CEO, explained that severance is part of disciplined expense management and is not expected to disappear. Ken Tsang, CFO, added that severance is not a normal course item but varies with business operations. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Globe and Mail
a day ago
- Business
- Globe and Mail
AGF Management Limited Declares Second Quarter 2025 Dividend
TORONTO, June 25, 2025 (GLOBE NEWSWIRE) -- On June 24, 2025, the Board of Directors of AGF Management Limited declared a dividend of 12.5 cents per share on both the Class B Non-Voting shares and the Class A Voting common shares of the company. This dividend will be payable on July 17, 2025 to shareholders of record on July 3, 2025. About AGF Management Limited Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth. AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm's collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations. Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
Yahoo
09-04-2025
- Business
- Yahoo
AGF Management First Quarter 2025 Earnings: Beats Expectations
Revenue: CA$149.1m (up 9.1% from 1Q 2024). Net income: CA$31.0m (up 1.3% from 1Q 2024). Profit margin: 21% (down from 22% in 1Q 2024). The decrease in margin was driven by higher expenses. EPS: CA$0.47. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 14% decline forecast for the Capital Markets industry in Canada. Performance of the Canadian Capital Markets industry. The company's shares are down 10% from a week ago. You still need to take note of risks, for example - AGF Management has 2 warning signs (and 1 which doesn't sit too well with us) we think you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
