AGF Management Reports Q2

On Wednesday, AGF Management (TSX: AGF ) discussed second-quarter financial results during its earnings call.

The full transcript is provided below.

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The full earnings call is available at Summary AGF Management Limited reported strong Q2 2026 financial results, with AUM reaching $75 billion, a 40% increase from the previous year, largely due to the acquisition and growth in New Holland Capital.

The company achieved adjusted diluted EPS of $0.72 and generated $36 million of free cash flow, maintaining a robust balance sheet with $435 million in investments and net debt of $51 million.

AGF was added to the NASDAQ Broad Canadian Dividend Achievers Index, reflecting consistent dividend growth, and saw positive net sales in mutual funds for the eighth consecutive quarter, with significant growth in SMA and ETF AUM.

Strategically, AGF Management Limited increased its stake in New Holland Capital to 50% and continues to focus on building a diversified alternatives and private markets business through AGF Capital Partners.

The company anticipates strong future growth driven by New Holland's organic expansion and strategic acquisitions, while maintaining a disciplined approach to expense management and capital allocation.

Full Transcript OPERATOR Thank you for standing by and welcome to the Q2 2026 AGF Management Limited earnings conference call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question and answer session.

To ask a question during this session, you will need to press star 11 on your telephone.

As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference, Mr.

Tsang.

Sir, please begin.

Ken Tsang, Chief Financial Officer Thank you, Operator, and good morning, everyone.

I'm Ken Tsang, Chief Financial Officer of AGF Management Ltd.

Today we will be discussing the financial results for the second quarter of 2026.

Slides supporting today's call and webcast can be found in the Investor Relations section of AGF.com.

Also speaking on the call today will be Judy Goldring, Chief Executive Officer, and Ash Lawrence, Head of AGF Capital Partners.

For the question and answer period following the presentation, John Porter, Chief Investment Officer, will also be available to address questions.

Slide 4 provides the agenda for today's call.

After the prepared remarks, we will be happy to take questions.

With that, I will now turn the call over to Juvie.

Judy Goldring, Chief Executive Officer Good morning and thank you for joining us.

Q2 was a strong quarter for AGF.

At the end of May, we made a subsequent investment in New Holland Capital, where AGF now owns a 50% economic interest in the company.

We are pleased with New Holland Capital's organic growth, with AUM increasing 44% to $11 billion since our initial investment two years ago.

With the inclusion of New Holland's AUM of $11 billion, our AUM and fee-earning assets were $75 billion at Q2, up 40% from a year ago.

AGF Investments Canadian Retail Mutual Funds reported the eighth consecutive quarter of positive retail mutual fund net sales with net sales of $6 million in the quarter.

Our SMA and ETF business remained strong with AUM increasing by 74% year over year to $4.8 billion.

Our Canadian SMA and ETF net flows were $155 million in the quarter.

We reported adjusted diluted EPS of $0.72 and generated $36 million of free cash flow in the quarter.

Our balance sheet remains strong with $435 million in short and long-term investments, net debt of $51 million, with $145 million available on our credit facility.