AGF Investments Announces Results of Special Meeting of Securityholders

• The most recent release (May 14, 2026) announces a special meeting result approving the merger of AGF China Focus Class into AGF Emerging Markets Class on a taxable basis.
• Effective date for the merger is set around May 22, 2026.
• Historical context from April 30, 2026 shows Total AUM and fee-earning assets reached $61.4 billion, up 3.9% month-over-month and 20.5% year-over-year.
• Q1 2026 financial results (April 14) reported adjusted diluted EPS of $0.30 with a dividend increase of 8% to 13.5 cents per share.
• Free cash flows for the quarter reached $36.0 million, up 14% year-over-year.
• AGF Capital Partners AUM was $2.4 billion but recorded negative earnings impact due to non-cash fair value adjustments in long-term infrastructure investments.

• The fund merger is an administrative consolidation intended to streamline the product lineup and reduce operational complexity rather than a strategic shift or capital event.
• Merging classes on a taxable basis may create minor tax inefficiencies for investors but does not materially alter the company's revenue model or asset base.
• AUM growth remains robust at 20.5% year-over-year, indicating strong demand and effective management of fee-earning assets.
• The drag from AGF Capital Partners (-$0.05 EPS impact in Q1) is a recurring risk factor that offsets some earnings strength but does not threaten overall solvency given the strong free cash flow generation.
• No new strategic investors or major M&A activity was disclosed; therefore, there is no immediate catalyst for significant market cap re-rating.

• AGF Management Limited is a Canadian asset management firm founded in 1957 managing over $61 billion in assets as of April 2026.
• Flagship operations include Mutual Funds ($36.3B), Private Wealth ($9.7B), and Capital Partners ($2.4B).
• The company has diversified across asset classes including Equity, Fixed Income, Balanced funds, and Alternatives.
• Recent product launches include ETF series units for legacy funds (AGF American Growth Fund and AGF Global Select Fund) to meet investor demand for liquidity.