07:54 AM EST, 01/22/2025 (MT Newswires) -- AGF Management (AGF-B.TO) on Wednesday said fourth-quarter profit and revenue rose, driven by higher fair value adjustments and the consolidation of Kensington Capital Partners' (KCPL) financial results.

Adjusted net income attributable to equity owners rose to $29.8 million for the three months ended Nov. 30, compared with $18.5 million in the prior year period. Adjusted diluted EPS climbed to $0.45 from $0.28 a year earlier.

Total adjusted net revenue for the quarter rose to $105.8 million, compared with $78.3 million a year earlier.

"Looking ahead to 2025, our strong balance sheet will allow us to continue investing in key areas of growth to drive returns for our shareholders, including the further buildout of AGF Capital Partners, our multi-boutique alternatives business," said AGF Chief Executive Kevin McCreadie.

At the end of the fourth quarter, the company had total assets under management and fee-earning assets of $53.6 billion compared with $49.7 billion as at Aug. 31, 2024 and $42.2 billion as at Nov. 30, 2023. The company also declared a quarterly dividend of $0.115 per share.

Shares of the company closed up $0.17 or 1.6%, to $10.92 on Tuesday on the Toronto Stock Exchange.