AGF Management (B)

AGF.B-T

TSE:AGF.B

6.89
0.16 (2.27%)
AGF Management Limited is a premier Canadian-based investment management firm serving institutions and individuals around the globe since 1957.
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Analysis and Opinions about AGF.B-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
November 14, 2016

The problem is that they just sell mutual funds and are under huge duress right now to be able to do something more than just that. Expects they will come out with a brand of ETF’s. Net outflows are continuing. It is not a good time to be a mutual fund company. When CRM2 regulations come out, people will start to see exactly what they are paying in fees, which are much, much higher than ETF’s. 6.4% dividend yield.

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The problem is that they just sell mutual funds and are under huge duress right now to be able to do something more than just that. Expects they will come out with a brand of ETF’s. Net outflows are continuing. It is not a good time to be a mutual fund company. When CRM2 regulations come out, people will start to see exactly what they are paying in fees, which are much, much higher than ETF’s. 6.4% dividend yield.

COMMENT
COMMENT
July 6, 2016

Has a negative view on this and had it as a Top Short in June. His concern is largely with CRM2 regulations that take place on July 15, that will have a strong impact on companies such as this.

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Has a negative view on this and had it as a Top Short in June. His concern is largely with CRM2 regulations that take place on July 15, that will have a strong impact on companies such as this.

TOP PICK
TOP PICK
June 10, 2016

*SHORT* With the new disclosure rules coming into play on July 15, it is really going to hurt the mutual fund companies. There has been pressure on mutual fund fees and that is going to accelerate once the disclosure rules come into play. Also, ETF’s are going to continue taking market share away from mutual fund companies. Dividend yield of 6.25%.

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*SHORT* With the new disclosure rules coming into play on July 15, it is really going to hurt the mutual fund companies. There has been pressure on mutual fund fees and that is going to accelerate once the disclosure rules come into play. Also, ETF’s are going to continue taking market share away from mutual fund companies. Dividend yield of 6.25%.

DON'T BUY
DON'T BUY
June 6, 2016

This is a no go. It is in structural decline. Fees are far too high considering the competition. Turnarounds seldom turn. It is not an investment he is comfortable with. No analysts have a buy recommendation.

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This is a no go. It is in structural decline. Fees are far too high considering the competition. Turnarounds seldom turn. It is not an investment he is comfortable with. No analysts have a buy recommendation.

COMMENT
COMMENT
April 14, 2016

Doesn’t like dual class shares. Anyone who is in the mutual fund business has a real problem with ETF’s. You can basically duplicate diversification in a portfolio, pick your spots, and decide you will run with that. This wasn’t really available when mutual funds became popular. He would use ETF’s instead.

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Doesn’t like dual class shares. Anyone who is in the mutual fund business has a real problem with ETF’s. You can basically duplicate diversification in a portfolio, pick your spots, and decide you will run with that. This wasn’t really available when mutual funds became popular. He would use ETF’s instead.

DON'T BUY
DON'T BUY
December 15, 2015

Chart looks like a ski slope. They are going down because they are losing market share, mainly to ETF’s. Currently this is in a bit of a consolidation phase. Financials generally do well from January 23 into mid April.

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Chart looks like a ski slope. They are going down because they are losing market share, mainly to ETF’s. Currently this is in a bit of a consolidation phase. Financials generally do well from January 23 into mid April.

DON'T BUY
DON'T BUY
November 11, 2015

This is a classic value trap. A lot of the asset managers are doing very, very poorly. You just don’t want to get caught up in this, because assets can continually decline. ETF’s are attracting so many assets now. There is a lot of fat in the organization. He would choose CI Financial (CIX-T) instead.

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This is a classic value trap. A lot of the asset managers are doing very, very poorly. You just don’t want to get caught up in this, because assets can continually decline. ETF’s are attracting so many assets now. There is a lot of fat in the organization. He would choose CI Financial (CIX-T) instead.

DON'T BUY
DON'T BUY
November 9, 2015

You shouldn’t be buying this. Has a big dividend yield and trading at 10X earnings. They face a lot of issues including dual share structure. Have also had a declining revenue base over the last little while. They are suffering from poor performance with high cost funds in a world where investment advisors will have to list how much they make on each fund through MERs.

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You shouldn’t be buying this. Has a big dividend yield and trading at 10X earnings. They face a lot of issues including dual share structure. Have also had a declining revenue base over the last little while. They are suffering from poor performance with high cost funds in a world where investment advisors will have to list how much they make on each fund through MERs.

DON'T BUY
DON'T BUY
October 8, 2015

They cut their dividend once. It is safe now. They continue to suffer redemptions. He would prefer a bank with a mutual fund business than to own a mutual fund company. They have grown big enough that they can suffer through. New regulations will make it a very challenging business.

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They cut their dividend once. It is safe now. They continue to suffer redemptions. He would prefer a bank with a mutual fund business than to own a mutual fund company. They have grown big enough that they can suffer through. New regulations will make it a very challenging business.

DON'T BUY
DON'T BUY
September 30, 2015

They have not been the leader in their field. They are in a down trend since the end of 2013. It does not seem like there is anywhere to stop.

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AGF Management (B) (AGF.B-T)
September 30, 2015

They have not been the leader in their field. They are in a down trend since the end of 2013. It does not seem like there is anywhere to stop.

DON'T BUY
DON'T BUY
September 14, 2015

They rely on third party advisors. It means your performance has to be very good, which it has not been in recent years. Rev Can is doing a review of some of their tax filings and this should weigh on the stock price for a while.

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AGF Management (B) (AGF.B-T)
September 14, 2015

They rely on third party advisors. It means your performance has to be very good, which it has not been in recent years. Rev Can is doing a review of some of their tax filings and this should weigh on the stock price for a while.

DON'T BUY
DON'T BUY
July 13, 2015

Can this return to a $12 stock? It is going to be tough. They had a big war chest after they sold off their trust division, and spent all that money on stock buybacks at significantly higher prices than the current price. They continue to pay out a dividend which is not really sustainable. The performance of the mutual funds has been challenged and investors are moving away from them. This is an area that you don’t need to be exposed to.

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Can this return to a $12 stock? It is going to be tough. They had a big war chest after they sold off their trust division, and spent all that money on stock buybacks at significantly higher prices than the current price. They continue to pay out a dividend which is not really sustainable. The performance of the mutual funds has been challenged and investors are moving away from them. This is an area that you don’t need to be exposed to.

COMMENT
COMMENT
July 2, 2015

Looking at all the asset managers, this is the one that he is least optimistic about their prospects. These have come under a lot of scrutiny and pressure. In order to improve performance, the company has taken on additional expenses, so you are seeing the revenue decline and expenses go up. It is very likely that their AEM continues to shrink.

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Looking at all the asset managers, this is the one that he is least optimistic about their prospects. These have come under a lot of scrutiny and pressure. In order to improve performance, the company has taken on additional expenses, so you are seeing the revenue decline and expenses go up. It is very likely that their AEM continues to shrink.

PAST TOP PICK
PAST TOP PICK
June 18, 2015

(Top Pick May 5/14, Down 41.47%) He felt it would be turned around, but in the spring he realized the loss of assets under management had caused a cut in the dividend and so he got out.

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(Top Pick May 5/14, Down 41.47%) He felt it would be turned around, but in the spring he realized the loss of assets under management had caused a cut in the dividend and so he got out.

DON'T BUY
DON'T BUY
May 26, 2015

Money management, overall, is a growth business, but not so much for this company. They have had terrible performance. They’ve lost assets and money managers. This is a nepotism company.

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Money management, overall, is a growth business, but not so much for this company. They have had terrible performance. They’ve lost assets and money managers. This is a nepotism company.

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