AGF Management Limited has recently unveiled its financial results for the fourth quarter and fiscal year ending November 30, 2024. The company reported a significant increase in assets under management and fee-earning assets, marking a pivotal milestone in its strategic journey. CEO Kevin McCreadie highlighted the company's commitment to diversification and growth across various asset classes and client channels.

Empowering Investors with Unmatched Performance and Strategic Vision

Achieving Milestones Through Strategic Diversification

In 2024, AGF Management demonstrated remarkable progress by executing its multi-year strategy aimed at broadening its business across diverse asset classes and client channels. This approach not only supported the company's resilience through fluctuating market cycles but also aligned with evolving investor preferences. By focusing on sustainable growth, AGF ensured its ability to thrive amidst changing economic landscapes.The company’s mutual fund gross sales amounted to $993 million for the quarter, reflecting a steady performance compared to previous quarters. Notably, mutual fund net sales stood at $5 million, showcasing an improvement from the prior year's net redemptions of $224 million. These figures underscore AGF's successful execution of its strategic imperatives, positioning it for continued success in 2025.

Recognized Excellence: Awards and Accolades

AGF Investments Inc. was honored with several prestigious awards, recognizing its outstanding performance and commitment to excellence. The FundGrade A+® Awards acknowledged AGF American Growth Fund/Class, AGF Global Select Fund, AGF Fixed Income Plus Fund, and AGF Global Convertible Bond Fund for their exceptional risk-adjusted returns. Additionally, AGF Global Select ADR Constrained Strategy emerged as the winner in the Global category at the SMArtX 2024 X Awards, while AGF U.S. Large Cap Growth Equity Strategy was named a finalist in the Large Cap category.AGF SAF Private Credit LP secured the top spot in the private debt category for best one-year return at the 2024 Canadian Hedge Fund Awards. Furthermore, AGF Capital Partners Affiliate Manager Kensington clinched the private equity category for best five-year return with its Kensington Private Equity Fund. Lastly, AGF European Equity Class (Series F) triumphed in the European Equity category at the 2024 LSEG Lipper Fund Awards. These accolades highlight AGF's dedication to delivering superior investment solutions and fostering long-term value creation.

Financial Highlights: Strong Performance and Profitability

AGF Management reported robust financial performance, with adjusted EBITDA reaching $39.6 million for the three months ended November 30, 2024, up from $27.6 million in the corresponding period of the previous year. For the full fiscal year, adjusted EBITDA surged to $166.4 million, compared to $132.5 million in the prior year. Net management, advisory, and administration fees also witnessed a notable increase, totaling $83.6 million for the quarter and $318.4 million for the year, against $72.0 million and $294.4 million, respectively, in the comparative prior year periods.Adjusted revenue from AGF Capital Partners experienced a substantial rise, amounting to $18.2 million for the three months and $72.9 million for the year, driven by higher fair value adjustments and the consolidation of KCPL financial results. Despite increased selling, general, and administrative costs, primarily due to higher performance-based compensation and market conditions, AGF maintained a strong balance sheet, enabling it to invest in key areas of growth and drive shareholder returns.

Looking Ahead: Strategic Investments and Future Prospects

As AGF Management looks toward 2025, the company is poised to capitalize on its robust balance sheet to further invest in strategic initiatives that will bolster its competitive edge. One such area of focus is the expansion of AGF Capital Partners, the firm's multi-boutique alternatives business. By continuing to build out this segment, AGF aims to enhance its offerings in alternative investments, providing clients with diversified opportunities for wealth generation.Moreover, AGF remains committed to integrating sound corporate practices into its operations, ensuring responsible and sustainable growth. With a seasoned leadership team and a proven track record of delivering exceptional results, AGF is well-equipped to navigate future challenges and seize emerging opportunities. The company's unwavering dedication to innovation and client-centric solutions positions it as a leader in the global asset management industry.