Sales Leadership
AGF achieved record-breaking sales during fiscal year 2000 in an environmentof industry shifts and the introduction of competitive new products. Against this backdrop, AGF experienced the highest level of net sales in the company’s history.
Gross sales increased almost 34 per cent from fiscal 1999 to $5.6 billion, while net sales were $2.5 billion, up 20.5 per cent over last year. AGF’s redemption rate stood at 13.5 per cent, one of the lowest in the industry.
Most importantly, we again expanded the network of advisors who sell AGF products and, in turn, received a significantly higher share of advisors’ business. This means AGF represents the first or second choice for more advisors across Canada than ever before, with nearly 29,000 advisors selling AGF funds in 2000.
AGF has also put in place multiple distribution channels providing broader market coverage than any of our competitors. In addition to brokers and planners, we sell selected and specialized products through banks, discount brokerages, insurance companies and Investors Group Inc. Over the year, we established new distribution relationships with Royal Bank of Canada and Scotia Bank.
By year end, assets under management in our institutional business had grown to $2.8 billion.
One of the highlights of the year was the launch of a new sales office in Calgary, which gives us a stronger base to grow our business across Alberta and Saskatchewan. As well, along with the acquisition of Global Strategy, we expanded our sales team to give us more depth and expertise across the country.
With mutual funds, the Harmony wrap program and Private Investment Management, AGF now offers advisors and clients solutions that can meet the investment goals of Canadians at every point in their lives. |
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