Financial Highlights

(from continuing operations)
(in millions of Canadian dollars, except per share data) 
Three months ended
February 28, 2018 November 30, 2017 February 28, 2017
Income 110.9 120.9 107.2
Net income from continuing operations attributable to equity owners of the Company 21.5 17.3 9.2
EBITDA1 24.9 33.1 25.7
Adjusted EBITDA1 24.9 23.1 25.7
Diluted earnings per share attributable to equity owners of the Company 0.27 0.21 0.11
Adjusted diluted earnings per share attributable to equity owners of the Company1 0.14 0.11 0.11
Free Cash Flow1 10.5 21.6 10.4
Dividends per share 0.08 0.08 0.08
Long-term debt 168.6 138.6 198.3

1EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted EBITDA, adjusted diluted earnings per share and Free Cash Flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at agf.com.

2  Mutual fund AUM includes retail AUM and institutional client AUM invested in customized series offered within mutual funds.

3  Represents fee-earning committed and/or invested capital from AGF and external investors held through joint ventures. AGF’s portion of this commitment is $150.0 million, of which $86.0 million has been funded as at February 28, 2018, which includes $10.1 million return of capital related to the monetization of its seed assets.

(in millions of Canadian dollars) Three months ended
February 28, 2018 November 30, 2017 August 31, 2017 May 31, 2017 February 28, 2017
Mutual fund assets under management (AUM) 2
(including retail pooled funds)
19,056 19,111 18,165 18,884 18,299
Institutional, sub-advisory and ETF accounts AUM 11,545 11,782 10,665 11,336 10,960
Private client AUM 5,471 5,517 5,221 5,323 5,143
Alternative asset management platform AUM 3 902 902 902 902 712
Total AUM, including alternative asset
management platform
36,974 37,312 34,953 36,445 35,114
Net mutual fund redemptions 2 68 139 40 107 119
Average daily mutual fund AUM 2 18,675 18,220 18,239 18,579 17,875

EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted EBITDA, adjusted diluted earnings per share and Free Cash Flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at agf.com.

2 Mutual fund AUM includes retail AUM and institutional client AUM invested in customized series offered within mutual funds.

3  Represents fee-earning committed and/or invested capital from AGF and external investors held through joint ventures. AGF’s portion of this commitment is $150.0 million, of which $86.0 million has been funded as at February 28, 2018, which includes $10.1 million return of capital related to the monetization of its seed assets.