Press Releases

AGF Announces Agreement on Transfer Pricing Case

November 2, 2017 • Announcements

AGF Management Limited (“AGF”) announced an agreement related to its transfer pricing case with the Canada Revenue Agency (“CRA”) and the applicable tax authority in the relevant foreign jurisdiction. Details regarding the transfer pricing case were last reported in AGF’s public earnings disclosure on September 27, 2017. The agreement resolves tax matters from all previous years dating back to 2005.

AGF expects the overall outcome to be positive compared to its tax provision recorded and cash taxes paid to date, resulting in both a provision release and the receipt of cash in excess of any future payments relating to these matters. The provision release and cash received may be material but no recognition will be recorded in AGF’s financial statements at this time because of uncertainties related to implementing the settlements.

Further disclosure will be made when additional information is available.

“These agreements are a positive step toward fully resolving AGF’s long standing transfer pricing tax dispute with the CRA and other relevant tax authorities,” said Adrian Basaraba, Senior Vice-President and Chief Financial Officer of AGF Management Limited.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is a diversified global asset management firm with retail, institutional, alternative and high-net-worth businesses. As an independent firm, AGF strives to help investors succeed by delivering excellence in investment management and providing an exceptional client experience. AGF’s suite of diverse investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With approximately $35 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

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 Amanda Marchment

Director, Corporate Communications



Media Contact

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