AGF Management reported strong financial results for Q2 2024, acquiring Kensington Capital Partners.

From GlobeNewswire: 2024-06-26 07:25:00

AGF Management Limited reported quarterly adjusted diluted earnings per share of $0.35 and total assets under management and fee-earning assets of $47.8 billion. Mutual fund gross sales were $934 million, with net redemptions of $112 million. AGF’s performance earned industry recognition, winning awards and being named a finalist in key categories, showcasing consistent growth. The acquisition of Kensington Capital Partners was finalized, with AGF consolidating KCPL financial results. Adjusted EBITDA for the quarter was $37.0 million.Revenue from AGF Capital Partners was $12.0 million, including lower fair value adjustments. Net management, advisory and administration fees totaled $81.2 million. Adjusted net income attributable to equity owners was $23.6 million ($0.35 adjusted diluted EPS).AGF’s mutual fund assets under management for the quarter were $26,961 million, with ETFs and SMA AUM at $1,800 million and segregated accounts and sub-advisory AUM at $6,313 million. AGF Private Wealth AUM was $8,026 million, AGF Capital Partners AUM was $2,663 million. Total AUM and fee-earning assets were $47,844 million. AGF Management Limited will host a conference call today at 11 a.m. ET to review its earnings results. The call will be available via live audio webcast on the AGF website or over the phone by registering on the website. AGF Management Limited is an asset management firm with nearly $48 billion in total assets under management and fee-earning assets, serving over 800,000 investors globally. AGF trades on the Toronto Stock Exchange under the symbol AGF.B. For further details and financial statements, visit AGF’s website.



Read more at GlobeNewswire:: AGF Management Limited Reports Second Quarter 2024