{"id":28981,"date":"2023-01-25T13:06:46","date_gmt":"2023-01-25T13:06:46","guid":{"rendered":"http:\/\/myanmarnewswire.com\/?guid=3b04fd0a6fdb9b2c511c389a7328852d"},"modified":"2023-01-25T13:06:46","modified_gmt":"2023-01-25T13:06:46","slug":"agf-management-limited-reports-fourth-quarter-and-fiscal-year-2022-financial-results","status":"publish","type":"post","link":"https:\/\/myanmarnewswire.com\/agf-management-limited-reports-fourth-quarter-and-fiscal-year-2022-financial-results\/","title":{"rendered":"AGF Management Limited Reports Fourth Quarter and Fiscal Year 2022 Financial Results"},"content":{"rendered":"
TORONTO , Jan. 25, 2023 (GLOBE NEWSWIRE) —<\/p>\n
AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the fourth quarter and fiscal year ended November 30, 2022.<\/p>\n
AGF reported total assets under management and fee-earning assets1<\/sup> of\u00a0$41.8 billion\u00a0compared to\u00a0$39.6 billion\u00a0as at August 31, 2022 and $42.6 billion as at November 30, 2021. Year-over-year, the AUM decline was driven by market volatility.<\/p>\n \u201cIn a tumultuous market environment, we continued to outperform the industry, and this is a testament to our disciplined investment approach, risk management process and a product line-up that was designed to be resilient through all market conditions,\u201d said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF.<\/p>\n \u201cLooking ahead, I am excited about our momentum and the opportunities we have in front of us. Not only is our performance strong, but our brand is resonating, and our balance sheet is solid,\u201d added McCreadie.<\/p>\n AGF\u2019s mutual fund gross sales were $914 million for the quarter compared to $914 million in the comparative period, while net sales were $251 million compared to $352 million in the comparative period. AGF\u2019s sales have continued to outpace the industry. During the quarter the industry2<\/sup> reported net redemptions, while AGF mutual funds remained in net sales.<\/p>\n \u201cThroughout the past 12 months, we have been focused on maintaining and building upon our impressive momentum as we continue to build key relationships and deliver strong performance,\u201d said Judy Goldring, President and Head of Global Distribution, AGF. \u201cOur positive retail mutual fund sales continued through the quarter as the majority of our best-in-class F-Series Funds received 4 or 5-stars Morningstar Canada ratings.\u201d3<\/sup><\/p>\n 1 <\/sup>Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.<\/sub> Key Business Highlights: <\/strong><\/p>\n Financial Highlights: <\/strong><\/p>\n
\n2 <\/sup>Total long-term mutual funds in the Canadian mutual funds industry per Investment Funds Institute of Canada (IFIC).<\/sub>
\n3 <\/sup>Source: https:\/\/www.agf.com\/en\/top-\n
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