Financial Highlights

(from continuing operations)
(in millions of Canadian dollars, except per share data) 
Three months ended
  February 28, 2019 November 30, 2018 February 28, 2018
Income  105.0 1  108.5  110.9
Net income (loss) attributable to equity owners of the Company  (0.2) 1  14.7  21.5
EBITDA before commissions 2  12.9  28.7  24.9
Adjusted EBITDA before commissions 2  27.3  27.2  24.9
Diluted earnings per share attributable to equity owners of the Company  —  0.19  0.27
Adjusted diluted earnings per share attributable to equity owners of the Company 2  0.14  0.17  0.14
Free Cash Flow 2  16.6  16.1  10.5
Dividends per share  0.08  0.08  0.08
Long-term debt  168.7  188.6  168.6

1 Refer to Note 3 in the Condensed Consolidated Interim Financial Statements for more information on the adoption of IFRS 15.

2 EBITDA before commissions (earnings before interest, taxes, depreciation, amortization and deferred selling commissions), adjusted EBITDA before commissions, 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
  February 28, 2019 November 30, 2018 August 31, 2018 May 31, 2018 February 28, 2018
Mutual fund assets under management (AUM) 1
 (including retail pooled funds)
 19,028  18,713  19,401 19,118 19,056
Institutional, sub-advisory and ETF accounts AUM  12,023  12,475  12,694 12,823 11,545
Private client AUM  5,633  5,513  5,714 5,521 5,471
Alternative asset management platform AUM 2  2,140  1,011  1,009 1,009 902
Total AUM, including alternative asset management platform  38,824  37,712  38,818 38,471 36,974
Net mutual fund sales (redemptions) 1  (104)  111  (9) 100 (68)
Average daily mutual fund AUM 1  17,762  18,382  18,788 18,727 18,675

1 Mutual fund AUM includes retail AUM and institutional client AUM invested in customized series offered within mutual funds.
2 Represents fee-earning committed and/or invested capital from AGF and external investors held through joint ventures. AGF’s portion of this commitment is $225.0 million, of which $137.4 million has been funded as at February 28, 2019, which includes $26.6 million return of capital related to the monetization of its seed assets.