Financial Performance - Ending AUM reached a record $2 trillion[9], with long-term AUM growing by 16% year-over-year[22] - Net long-term inflows were $156 billion, representing an annualized organic growth of 47%[9, 22] - Net revenues increased by 17% year-over-year, while expenses increased by 13%[22] - Adjusted operating margin improved by 30 basis points compared to the second quarter of 2024[22] - Share buybacks of $25 million, representing 17 million shares, were executed[22] Asset Flows and AUM Composition - ETFs and Index strategies saw net inflows of $126 billion[9] - Fundamental Fixed Income experienced net inflows of $28 billion, including over $4 billion from The Peoples Pension fund in the UK[9] - Fundamental Equities had net outflows of $36 billion, with positive flows from Global/Regional equities offset by outflows in emerging markets ($23 billion) and global equities ($22 billion)[9] - Private Markets experienced net outflows of $23 billion, offset by positive flows in real estate and CLOs[9] Geographic and Channel Performance - Americas accounted for 70% of total firm AUM[11] - Asia Pacific accounted for 15% of total firm AUM[11] - EMEA accounted for 15% of total firm AUM[11] - Retail channel represented 68% of total firm AUM, while the Institutional channel represented 32%[11]

Core Viewpoint - Taseko Mines Limited reported a net loss of $29 million in Q1 2025, with revenues of $139 million from copper and molybdenum sales, while construction at Florence Copper is progressing on schedule towards first copper production expected in Q4 2025 [2][5][34]. Financial Performance - Adjusted EBITDA for Q1 2025 was $34 million, with earnings from mining operations before depletion and amortization at $39 million [2][7]. - The company recorded a net loss of $29 million ($0.09 loss per share) and an adjusted net loss of $7 million ($0.02 loss per share) [2][7]. - Revenues decreased to $139 million from $146.9 million in the previous year, primarily due to lower copper production [7][9]. Production and Operations - Gibraltar Mine produced 20 million pounds of copper and 336 thousand pounds of molybdenum in Q1 2025, with total operating costs (C1) at US$2.26 per pound of copper produced [3][20]. - Mill throughput averaged 87,800 tons per day, exceeding design capacity, but copper production was impacted by lower metallurgical recoveries from oxidized ore [3][5]. - The average copper grade was 0.19% with a recovery rate of 68% [3][15]. Project Development - Construction at Florence Copper is 78% complete, with critical aspects on schedule, and first copper cathode production expected in Q4 2025 [4][28]. - The company has completed 80 out of 90 planned production wells, with ongoing work on surface infrastructure and electrowinning areas [4][29]. Future Outlook - Annual copper production for 2025 is expected to be approximately 10 million pounds lower than previous guidance due to delays in accessing higher-grade ore [5][21]. - Significant increases in copper grades and recoveries are anticipated in the second half of 2025 and into 2026 [5][21]. - The company has secured copper collar contracts to ensure a minimum copper price of US$4.00 per pound for 81 million pounds of copper for the remainder of 2025 [12][27].