UPDATE 1-AGF Management posts loss on lower managed assets

Wed Sep 26, 2012 8:58am EDT

Sept 26 (Reuters) - Canadian fund manager AGF Management Ltd reported a quarterly loss on lower managed assets.

Total assets under management decreased 14.8 percent to C$41.2 billion ($42.18 billion), as of Aug. 31.

The company recorded a loss of C$13.3 million, or 14 Canadian cents per share, for the third quarter, compared with a profit of C$15.4 million, or 16 Canadian cents per share, a year earlier.

June-August revenue fell 21 percent to C$119.8 million.

AGF Management completed the sale of AGF Trust to B2B Bank, for C$421.6 million on Aug. 1.

The company also booked a restructuring charge of C$3.8 million due during the quarter to the sale.

Shares of the company closed at C$12.43 on the Toronto Stock Exchange on Tuesday.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article