Financial Highlights

(from continuing operations)
(in millions of Canadian dollars, except per share data) 
Three months ended Six months ended
May 31, 2018 February 28, 2018 May 31, 2017 May 31, 2018 May 31, 2017
Income 114.2 110.9 117.1 225.2 224.3
Net income attributable to equity owners of the Company 17.0 21.5 13.2 38.5 22.4
EBITDA 1 20.6 24.9 29.2 45.6 54.8
Adjusted EBITDA 1 25.8 24.9 29.2 50.8 54.8
Diluted earnings per share attributable to equity owners of the Company 0.21 0.27 0.16 0.47 0.28
Adjusted diluted earnings per share attributable to equity owners of the Company 1 0.14 0.14 0.16 0.28 0.28
Free Cash Flow1 2.1 10.5 10.4 12.6 20.9
Dividends per share 0.08 0.08 0.08 0.16 0.16
Long-term debt 168.6 168.6 168.4 168.6 168.4

1 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 www.agf.com.

(end of period)
(in millions of Canadian dollars)

Three months ended
May 31, 2018 February 28, 2018 November 30, 2017 August 31, 2017 May 31, 2017
Mutual fund assets under management (AUM)2
 (including retail pooled funds)
19,118 19,056 19,111 18,165 18,884
Institutional, sub-advisory and ETF accounts AUM 12,823 11,545 11,782 10,665 11,336
Private client AUM 5,521 5,471 5,517 5,221 5,323
Alternative asset management platform AUM 3 1,009 902 902 902 902
Total AUM, including alternative asset management platform 38,471 36,974 37,312 34,953 36,445
Net mutual fund sales (redemption)2 100 (68) (139) (40) (107)
Average daily mutual fund AUM2 18,727 18,675 18,220 18,239 18,579

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 $112.9 million has been funded as at May 31, 2018, which includes $10.1 million return of capital related to the monetization of its seed assets.