AGF's Positive Momentum Continues in 4Q; Maintaining FVE
No-moat-rated AGF Management continued its forward trajectory in the fiscal fourth quarter. As was the case in the previous quarter, prospects for a return to positive organic flows in its retail business appear more likely. Year-over-year net sales, while still negative, improved from nearly negative CAD 1.2 billion at the end of fiscal 2016 to negative CAD 436 million at the end of fiscal 2017. The institutional side was even better, as AGF finished the fiscal year with positive organic growth...
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