AGF Management Limited (AGF.B:CA) Q4 2025 Earnings Call Transcript

Operator

Thank you for standing by. Welcome to the Fourth Quarter 2025 AGF Management Limited Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to introduce your host for today’s conference, Mr. Tsang. You may begin.

Ken Tsang
Chief Financial Officer

Thank you, operator, and good morning, everyone. I’m Ken Tsang, Chief Financial Officer of AGF Management Limited. Today, we will be discussing the financial results for the fourth quarter and fiscal year 2025. 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. For the Q&A period following the presentation, Ash Lawrence, Head of AGF Capital Partners; and David Stonehouse, Interim 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 Judy.

Judith Goldring
Chief Executive Officer

Good morning, and thank you for joining us. AGF had another outstanding year in 2025, where we made very strong progress against our strategic objectives. Our AUM and fee earning assets crossed over $60 billion at the end of Q4, up 13% from a year ago. In Q4, we reported retail mutual fund net sales of $282 million or 0.8% of mutual fund AUM in the quarter, outpacing the Canadian mutual