Stocks in play: AGF Management Limited

Announced financial results for the first quarter ended February 28, 2021. AGF reported total assets under management (AUM) of $39.8 billion compared to $37.4 billion as at February 29, 2020. AGF’s mutual funds net sales improved $729 million year over year, with total net sales of $385 million in Q1 2021, compared to net redemptions of $344 million in Q1 2020. Excluding net flows from institutional clients invested in mutual funds, retail mutual fund net sales were $376 million for the quarter compared to net redemptions of $141 million in the comparative period of 2020. AGF mutual fund gross sales totaled $1,042 million, an 85% improvement over prior year. Gross sales for long-term mutual funds improved 84% year-over-year, outpacing the industry year-over-year improvement of 36%. AGF Management Limited shares T.AGF.B are trading down $0.12 at $7.52.

Read:

• How China’s Surge of Iron Ore Imports Seems to be Impacting Global Steel Production

• Cold-Pressed Drinks Offering Portfolios an Instant Energy Kick