Overview

* AGF fiscal Q2 adjusted EPS at C$0.39

* Total assets under management and fee-earning assets dip to C$53.5 bln from C$53.8 bln

* Announced changes to investment objectives for certain funds, in May

Outlook

* Company remains focused despite economic and political uncertainty.

* AGF confident in disciplined approach for market shifts.

* Company sees sustained growth across three business lines.

* AGF adjusts fees and risk ratings for certain funds to align with market trends.

Result Drivers

* MUTUAL FUND SALES - AGF reports fourth consecutive quarter of positive retail mutual fund net sales, despite challenging environment, per President Judy Goldring

* ASSETS UNDER MANAGEMENT - Total AUM decreased slightly to C$53.5 billion, attributed to ongoing economic and political uncertainty

* COST MANAGEMENT - Lower performance-based compensation and timing of expenses contributed to decreased adjusted EBITDA

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$99 mln

Adjusted

Revenue

Q2 C$0.39

Adjusted

EPS

Q2 EPS C$0.36

Q2 C$ 53.5

Assets bln

Under

Manageme

nt and

fee-earn

ing

assets

Q2 C$0.125

Dividend

Q2 C$36.20

EBITDA mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "hold."

* Wall Street's median 12-month price target for AGF Management Ltd ( AGFMF ) is C$14.00, about 4.7% above its last closing price of C$13.34

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

(This story was created using Reuters automation and AI capabilities based on LSEG and company data. The headline and summary were reviewed by a Reuters journalist prior to publication.)