The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

AGF Reports November 2013 Assets Under Management

Tuesday, December 03, 2013

AGF Reports November 2013 Assets Under Management

20:38 EST Tuesday, December 03, 2013

TORONTO, Dec. 3, 2013 /CNW/ - AGF Management Limited reported total fee-earning assets under management (AUM) of $34.4 billion as at November 30, 2013. The company also provided an update on its institutional business.

In November, AGF achieved a key milestone in the growth of its global institutional business with the successful launch of its Dublin-based UCITS fund family. As of November 30th, AGF received total net new flows of $65 million in its newly launched UCITS, invested in the AGF Global Core Equity Fund. In addition to that success, in the first week of December, AGF received a $425 million contribution to its Emerging Markets All Cap Equity UCITS Fund and is expected to receive a $510 million contribution into an Emerging Markets segregated account.  The December inflows are not included in the AUM numbers reported below.

AGF also reported a $2.6 billion redemption from a single legacy client during November.  This longtime client was invested in two global oriented strategies.

AUM
($ billions)
November
30, 2013
October 31,
2013
% Change
Month-Over-
Month
November
30, 2012
% Change
Year-Over-
Year
Mutual Fund $19.3 $19.3 - $19.6 (1.5)%
Retail Pooled Fund 0.3 0.3 - 0.5 (40.0)%
Total Retail Fund (including retail pooled funds) $19.6 $19.6 - $20.1 (2.5)%
Institutional and Sub-advisory + High-net-worth $14.8 $17.3 (14.5)% $19.1 (22.5)%
Total AUM $34.4 $36.9 (6.8)% $39.2 (12.2)%
           
Average Daily Retail Fund AUM $19.5 $19.4 0.5% $20.1 (3.0)%

Retail Fund AUM by Category (including retail pooled funds)

($ billions)
November
30, 2013
October 31,
2013
% Change
Month-Over-
Month
November
30, 2012
% Change
Year-Over-
Year
Domestic Equity Funds $3.4 $3.5 (2.9)% $6.5 (47.7)%
U.S. and International Equity Funds 8.4 8.2 2.4% 5.1 64.7%
Domestic Balanced Funds 3.1 3.1 - 3.5 (11.4)%
U.S. and International Balanced Funds 0.5 0.5 - 0.6 (16.7)%
Domestic Fixed Income Funds 2.6 2.6 - 3.0 (13.3)%
U.S. and International Fixed Income Funds 1.4 1.4 - 1.1 27.3%
Domestic Money Market 0.2 0.3 (33.3)% 0.3 (33.3)%
Total Retail Fund AUM $19.6 $19.6 - $20.1 (2.5)%

ABOUT AGF MANAGEMENT LIMITED

AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. With over $34 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Caution Regarding Forward-Looking Statements

This release includes forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative versions thereof and similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, economic factors, business prospects, business performance and opportunities. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect.  Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements due to, but not limited to, important risk factors such as level of assets under management, volume of sales and redemptions of investment products, performance of investment funds and of investment managers and advisors, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as interest and foreign-exchange rates, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, and the company's ability to complete strategic transactions and integrate acquisitions. The company cautions that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements are given only as at the date of this release and other than specifically required by applicable laws, the company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise.  Additional risks and uncertainties can be found in our MD&A for the fiscal year ended November 30, 2012 under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors and Management of Risk" and in our other filings with Canadian securities regulatory authorities.

SOURCE AGF

For further information:

AGF Management Limited shareholders and analysts, please contact:

Robert J. Bogart 
Executive Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@agf.com

Adrian Basaraba 
Senior Vice-President, Finance
416-865-4203, adrian.basaraba@agf.com

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

Digital Business Solutions
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections