AGF Management Limited Reports Fourth Quarter and Fiscal Year 2025 Financial Results

• Reported quarterly adjusted diluted earnings per share of $0.62
• Total assets under management and fee-earning assets of $60.4 billion
• Declared quarterly dividend per share to 12.5 cents
  

TORONTO, Jan. 27, 2026 (GLOBE NEWSWIRE) -- AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the fourth quarter and fiscal year ended November 30, 2025.

AGF reported total assets under management and fee-earning assets¹ of $60.4 billion compared to $56.8 billion as at August 31, 2025 and $53.6 billion as at November 30, 2024.

Over the last year, we demonstrated resilience and adaptability while remaining focused on execution. Our results reflect continued progress against our strategic priorities, as we expanded our offerings, diversified our client base and earned industry recognition for our strong performance, innovation, and culture, said Judy Goldring, Chief Executive Officer, AGF.

AGFs mutual fund gross sales were $1,425 million for the quarter compared to $1,260 million in the previous quarter and $993 million in the prior year quarter. Retail mutual fund² net sales were $282 million compared to $262 million in the previous quarter and $14 million in the prior year quarter.

Im proud of what weve accomplished and excited about the opportunities ahead. Our results reflect the discipline and focus behind our strategy, and as the industry landscape evolves, we remain committed to executing, staying responsive, and building on our momentum, added Goldring.

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_{¹ 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.
² Retail mutual fund net sales (redemptions) are calculated as reported mutual fund net sales (redemption) less non-recurring institutional net sales (redemptions) in excess of $5 million invested in our mutual funds.}

AGF named Judy Goldring as Chief Executive Officer (CEO) in July following the passing of Kevin McCreadie, CEO and Chief Investment Officer. Ms. Goldring is a respected industry leader with over 30 years of experience. In her most recent role as President and Head of Global Distribution, she drove strategic planning and shaped key corporate initiatives.

As CEO, she announced the following changes to AGFs senior leadership team to capitalize on the strength of the firms talent and its multi-year growth strategy:

• Chris Jackson was appointed President & Chief Operating Officer. Reporting to the CEO, he oversees the execution of strategic plans in support of business priorities and provides counsel on business planning and direction for corporate initiatives to AGF's leadership team.
• David Stonehouse was named interim CIO, AGF Investments, while a search for a new CIO is underway.
• Ash Lawrence, Head of AGF Capital Partners, AGFs multi-boutique alternatives business, serves as EMT sponsor for the Office of the CIO, providing strategic guidance and support.
  

AGF Capital Partners announced the launch of AGF NHC Tactical Alpha Fund, an absolute-return strategy designed to deliver attractive risk-adjusted returns with low beta to traditional asset classes.

AGF Investments Inc. launched AGF Enhanced U.S. Income Plus Fund, an alternative mutual fund that seeks to provide long-term capital appreciation and generate a high level of consistent income by investing in U.S. equity securities and employing dynamic options strategies such as put writing and covered call writing.

AGF International Advisors Company Limited, a subsidiary of AGF, was once again accepted as a signatory to the UK Stewardship Code, a best-practice benchmark in investment stewardship.

AGF advanced its commitment to gender equity by partnering with VersaFi (formerly Women in Capital Markets), an organization dedicated to removing barriers to womens advancement and promoting best practices, policies, and programs that drive gender diversity in the workplace.

AGF renewed its partnership with Trees for Life through a new three-year agreement, continuing a relationship that began in 2019. Through this partnership, AGF supports initiatives that expand urban tree planting, enhance local biodiversity, and engage communities in environmental education. To date, AGF employees have helped plant more than 1,000 trees across Canada.

AGF was recognized as one of Greater Torontos Top Employers for 2026, an honour that reflects the strength of the firms culture and the meaningful work being done to invest in its people.

AGF Investments Inc. was recognized with 2024 FundGrade A+® Awards for AGF American Growth Fund, AGF Fixed Income Plus Fund and AGF Global Select Fund.

At the 2025 Wealth Professional Awards, AGF Investments Inc. was named Mutual Fund Provider of the Year. The firm was also honoured as an Excellence Awardee in the Employer of Choice category.

AGF SAF Private Credit Trust won best 3-Year Return in the Private Debt category and Kensington Private Equity Fund won best 10-Year Return in the Private Equity category at the 2025 Canadian Hedge Fund Awards. 

AGF Investments Inc. earned multiple 2025 LSEG Lipper Fund Awards across three categories:

• AGF European Equity Class (Series F) won for both the 3-year and 5-year periods in the European Equity category.
• AGF Global Select Fund (Series F) won for the 10-year period in the Global Equity category.
• AGF American Growth Fund (Series F) won for the 5-year period in the U.S. Equity category.
  

• Adjusted EBITDA³ for the three months and year ended November 30, 2025 was $52.4 million and $186.0 million, compared to $39.6 million and $166.4 million for the comparative prior year period.
• Net management, advisory and administration fees³ for the three months and year ended November 30, 2025 was $94.8 million and $352.6 million, compared to $83.6 million and $318.4 million for the comparative prior year period.
• Adjusted selling, general and administrative costs for the three months and year ended November 30, 2025 was $67.9 million and $252.3 million, compared to $66.2 million and $239.3 million for the comparative prior year period. The increase in adjusted SG&A from prior year is driven by higher salaries and benefits and non-compensation expenses, as well as one additional quarter of KCPL results.
• Adjusted EBITDA from AGF Capital Partners for the three months and year ended November 30, 2025, was $16.7 million and $56.6 million, compared to $12.4 million and $56.9 million for the comparative prior year period.
• Adjusted net income attributable to equity owners³ for the three months and year ended November 30, 2025 was $41.2 million ($0.62 adjusted diluted EPS) and $130.5 million ($1.93 adjusted diluted EPS), compared to $29.8 million ($0.45 adjusted diluted EPS) and $111.6 million ($1.67 adjusted diluted EPS) for the comparative prior year period.