AGF Management Limited Reports Second Quarter 2025 Financial Results

Core Insights - AGF Management Limited reported total assets under management and fee-earning assets of $53.5 billion as of May 31, 2025, a slight decrease from $53.8 billion as of February 28, 2025, but an increase from $47.8 billion as of May 31, 2024 [1][6][10] - The company experienced a decline in mutual fund gross sales, reporting $1,148 million for the quarter compared to $1,568 million in the previous quarter and $934 million in the same quarter last year [2][5] - AGF's retail mutual fund net sales were $65 million, down from $342 million in the previous quarter and a net redemption of $112 million in the prior year quarter [2][10] Financial Performance - Adjusted diluted earnings per share for the quarter were $0.39, down from $0.48 in the previous quarter and up from $0.35 in the same quarter last year [6][7] - Adjusted EBITDA for the three months ended May 31, 2025, was $39.5 million, compared to $47.9 million for the previous quarter and $37.0 million for the same period last year [7][9] - Net management, advisory, and administration fees for the quarter were $83.8 million, a decrease from $85.2 million in the previous quarter and an increase from $81.2 million in the prior year [7][9] Business Highlights - AGF was recognized as the Mutual Fund Provider of the Year at the 2025 Wealth Professional Awards, highlighting the company's innovative product lineup and commitment to client value [3][6] - The company announced lower management and administration fees for certain funds, reflecting its strategy to remain competitive and responsive to market trends [8][10] - AGF's total adjusted net revenue for the quarter was $99.0 million, down from $111.5 million in the previous quarter and up from $97.0 million in the prior year [9]