Core Viewpoint - AGF Management Limited reported a total of $56.1 billion in assets under management (AUM) and fee-earning assets as of July 31, 2025, reflecting growth in various asset categories compared to previous periods [1][7]. Summary by Category Total AUM and Fee-Earning Assets - Total AUM increased to $54.0 billion from $52.9 billion in June 2025, representing a 2.1% month-over-month growth and a 14.4% year-over-year increase from $47.2 billion in July 2024 [2]. - Total fee-earning assets remained stable at $2.1 billion, unchanged from the previous month and year [2]. Mutual Fund AUM Breakdown - Total Mutual Fund AUM reached $32.7 billion, up from $32.0 billion in June 2025 and significantly higher than $27.8 billion in July 2024 [2][4]. - Domestic Equity Funds maintained at $4.6 billion, while U.S. and International Equity Funds rose to $20.9 billion from $20.2 billion month-over-month and from $16.6 billion year-over-year [3]. - Domestic Fixed Income Funds increased to $2.2 billion from $2.0 billion in June 2025 and from $1.7 billion in July 2024 [3]. AGF Capital Partners - AGF Capital Partners AUM remained at $2.6 billion, consistent with the previous month but slightly down from $2.7 billion in July 2024 [4]. - Total AGF Capital Partners AUM and fee-earning assets were reported at $4.7 billion, unchanged from the previous month and down from $4.8 billion year-over-year [4]. Company Overview - AGF Management Limited, founded in 1957, operates as an independent and globally diverse asset management firm, focusing on public and private market investments through three business lines: AGF Investments, AGF Capital Partners, and AGF Private Wealth [5][6]. - The firm emphasizes responsible and sustainable corporate practices, serving over 815,000 investors globally [6][7].

Franklin Resources, Inc. Third Quarter 2025 Results August 1, 2025 | Investor Presentation Jenny Johnson President Chief Executive Officer Matthew Nicholls Executive Vice President Chief Financial Officer Chief Operating Officer Adam Spector Executive Vice President Head of Global Distribution Forward-looking statements and non-GAAP financial information This commentary contains forward-looking statements that involve a number of known and unknown risks, uncertainties and other important factors. This comme ...

Financial Data and Key Metrics Changes - The company reported a net inflow of $1.5 billion in April, with trends improving in May, despite a challenging environment for U.S. markets [5][7][9] - Operating income grew by 18% year-over-year in the first quarter, with a four percentage point expansion in margins [44] Business Line Data and Key Metrics Changes - Fixed income mandates continue to perform well, particularly in Europe, contributing to the positive net flows [6][9] - Active equity remains a significant revenue source, accounting for over 35% of total revenues, but faces challenges in outperforming benchmarks [25][26] Market Data and Key Metrics Changes - The company has approximately $275 billion in client assets in Asia, with Japan showing significant growth, managing $80 billion, double the amount from four years ago [12][13] - The EMEA region reported $14 billion in flows in the first quarter, with a mix of fixed income and ETFs driving performance [42] Company Strategy and Development Direction - The company aims to simplify and streamline its business while focusing on core activities and markets, particularly in Asia and India [20][21] - The strategic focus includes enhancing the active equity segment and expanding the ETF business, which has shown strong growth [45][49] Management's Comments on Operating Environment and Future Outlook - Management noted that cash on the sidelines remains high, with 20-25% of private wealth clients holding cash, indicating potential for future investment [4][78] - The company is optimistic about the growth potential in Asia, particularly in China, driven by demographic changes and government reforms [12][16] Other Important Information - The company has adopted a hybrid approach for its Alpha platform, which is expected to reduce implementation time and maintain cost efficiencies [87][88] - The partnership with Barings is aimed at expanding alternative credit strategies, leveraging both firms' strengths [55][60] Q&A Session Summary Question: What are the key drivers of your outperforming inflows compared to other players? - The company attributes its success to strong relationships and a long-standing presence in European and Asian markets, which have led to positive inflows despite challenges in the U.S. [8][9] Question: How is the active equity segment performing amid market volatility? - Active equity is crucial for the company, but it faces challenges as managers need to perform in the top quartile to attract and retain clients [25][26] Question: What is the outlook for the ETF business? - The ETF business is expected to continue growing, with the potential for active ETFs to reclaim some market share from passive investments [49][50] Question: How does the company plan to manage expenses moving forward? - The company has successfully reduced expenses while investing in growth areas, and it aims to continue finding operational efficiencies [91][92] Question: What are the capital allocation priorities? - The company plans to focus on investing back into the business, maintaining a payout ratio between 40-60%, and is open to share buybacks as opportunities arise [106][110]

Group 1: Joint Venture and Operations - BlackRock Inc. and Jio Financial have received approval from the Securities and Exchange Board of India to start their mutual fund operations through the joint venture named Jio BlackRock Asset Management [1] - The joint venture plans to launch a variety of investment products with a "digital first" approach targeting both retail and institutional investors [1][2] - The initial investment for the joint venture is set at $150 million from each partner, aiming to democratize access to investment solutions in India [4] Group 2: Strategic Rationale and Market Opportunity - This initiative aligns with BlackRock's growth strategy to enhance its market share in both domestic and global markets, capitalizing on India's rising affluence and digital transformation [5] - The joint venture aims to reshape the investment landscape in India by providing affordable, tech-enabled options for millions of investors [4][5] Group 3: Historical Context and Future Plans - BlackRock and Jio Financial formed the joint venture in July 2023, combining BlackRock's investment expertise with Jio's local market knowledge [3] - In April 2024, both entities expanded their collaboration to establish a wealth management and broking business in India, targeting the growing retail investor base [4]