Operator

Thank you. Thank you for standing by and welcome to the Q2 2026 AGF Management Limited Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded. I would now like to introduce your host for today's conference, Mr. Tsang. Sir, please begin.

Ken Tsang
Chief Financial Officer

Thank you, operator, and good morning, everyone. I'm Ken Tsang, Chief Financial Officer of AGF Management Limited. Today we will be discussing the financial results for the second quarter of 2026. Slides supporting today's call and webcast can be found in the Investor Relations section of AGF.com. Also speaking on the call today will be Judy Goldring, Chief Executive Officer, and Ash Lawrence, Head of AGF Capital Partners. For the question and answer period following the presentation, John Porter, Chief Investment Officer, will also be available to address questions. Slide 4 provides the agenda for today's call.

After the prepared remarks, we will be happy to take questions. With that, I will now turn the call over to Judy.

Judith Goldring
CEO & Director

Good morning, and thank you for joining us. Q2 was a strong quarter for AGF. At the end of May, we made a subsequent investment in New Holland Capital, where AGF now owns a 50% economic interest in the company. We are pleased with New Holland Capital's organic growth, with AUM increasing 44% to $11 billion since our initial investment two years ago. With the inclusion of New Holland's AUM of $11 billion, our AUM and fee-earning assets were $75 billion