NBP declared winner of the Central Banking ‘Currency Manager’ Award

Narodowy Bank Polski – winner of the Central Banking Currency Manager Award

An award confirming the effectiveness of protecting the value of the Polish currency

The National Bank of Poland and the National Bank of Ukraine announced the winners of the “Currency Manager” Central Banking Award – the 10th edition of the prestigious award in the world of central banking.

Warsaw, March 22, 2023 – Narodowy Bank Polski is pleased to announce that it has won an award confirming the effectiveness of protection of the value of the Polish currency and its management by Narodowy Bank Polski – Central Banking “Currency Manager” Award . The award was given for currency management in the face of Russian aggression in Ukraine. The NBP and the NBU were appreciated for their decisive and quick reaction.

Professor Adam Glapiński, President of the National Bank of Poland, commented on the award : “On behalf of the National Bank of Poland, which I have the honor to manage, I would like to express my joy that the latest edition of the “Currency Manager” of Central Banking was awarded jointly to two closely cooperating central banks – the National Bank Polski and the National Bank of Ukraine. The award confirms the effectiveness of protecting the value of the Polish currency and managing the currency by the National Bank of Poland.

“The cooperation of our banks, although it has been going on for decades, has acquired a special character and importance in the face of Russia’s bestial attack on Ukraine, which caused, among other things, high inflation, disruptions in financial flows and a huge influx of refugees from Ukraine, of whom about 1.5 million still find shelter in Poland.

“In response to the crisis caused by Russian aggression, the National Bank of Poland undertook numerous assistance activities to help Ukrainian citizens by supporting the central bank of Ukraine in maintaining the continuity of the country’s financial system, such as a swap line for the USD/UAH currency pair up to USD 1 billion, in-kind support, putting the topic of support for Ukraine on the agenda of international institutions, and finally offering Ukrainian citizens fleeing the war the possibility of exchanging their currency from hryvnia to zlotys. Thanks to this initiative, from March 25 to September 9, 2022, over 100,000 Ukrainian citizens were able to exchange hryvnias for zlotys, obtaining funds to meet their basic needs in the most difficult moments of Ukraine.

“We are very happy that the jury appreciated the NBP’s initiative by awarding the Central Banking “Currency Manager” Award – we acted in the spirit of solidarity with our neighbor and concern for macroeconomic stability in the region. Admiring the heroic attitude of our Ukrainian friends in the face of war and their readiness to provide further assistance, Narodowy Bank Polski eagerly awaits the times of peace that will follow – let us all hope – a quick victory for Ukraine.”

More information about the National Bank of Poland program for Ukraine at: https://nbp.pl/kategoria/aktualności/nbp-stoiska-z-ukrainą/

***

Central Banking Awards

The Central Banking Awards recognize the excellence of a community that has faced significant political and operational challenges in the face of increased inflationary pressures, rapid technological change, and environmental change. Many institutions have also made significant improvements in governance, operations, communications, economics, currency, reserves, and market infrastructure capabilities.

In 2023, the Central Banking Awards were granted for the tenth time.

https://www.centralbanking.com/awards/7954450/currency-manager-national-bank-of-poland-national-bank-of-ukraine

***

Press Office Communications Department

press@nbp.pl

Narodowy Bank Polski
Świętokrzyska 11/21 Street
00-919 Warszawa
Poland

Information clause on the processing of personal data

Attachment

GlobeNewswire Distribution ID 1000799613

Monaco Ocean Week, the yachting industry mobilised for a sustainable future

Monaco Smart Yacht Rendezvous 2023 Main figures

Monaco Smart Yacht Rendezvous 2023 Main figures

MONACO, March 22, 2023 (GLOBE NEWSWIRE) — The future of a more eco-responsible yachting industry. In celebration of the World Water Day and under the aegis of the collective Monaco, Capital of Advanced Yachting brand that the Yacht Club de Monaco is in charge of the Yachting Day during the 6th Monaco Ocean Week (20-26 March 2023). This is an initiative of the Prince Albert II of Monaco Foundation alongside the Monaco Government, the Monaco Oceanographic Institute and Monaco Scientific Centre. “Yachting faces major changes. A modernisation has become inevitable, and those involved in the sector are mobilised to initiate this evolution through research and bringing on new solutions,” says Bernard d’Alessandri, General Secretary of YCM and President of Cluster Yachting Monaco. “The assessment phase is over, we must act now with pragmatic solutions.”

Looking at decarbonisation, future regulations and the role of the life cycle of yachts in the circular economy and sustainability, a packed program of events waits ahead. The day will start with the 12th Environmental Symposium La Belle Classe Superyachts: ‘Encouraging Sustainability in Yachting, engaging the industry and new generation of engineers’. Focusing on the 10th Monaco Energy Boat Challenge to take stock of alternative energy sources and their efficiency for superyachts, the event will highlight initiatives underway to give owners and the industry keys to a more eco-responsible approach, and to present a Sailing Yacht Zero scenario. Then it’ll be time for the 27th Captains’ Forum: management and skills. YCM will give the floor to captains which will focus on ‘Superyacht Commitment: Management, Leadership & Mentoring’, a chance to exchange views and contribute to developing the future of yachting.

The first day, organised by the YCM, will end with the YCM Explorer Awards by La Belle Classe Superyachts: recognition for eco-committed owners. Held under the presidency of HSH Prince Albert II, since 2019 these Awards have been recognising owners who stand out for their commitment to protecting the marine environment, be it in the design of their yacht or how they use it. Awarded by a Jury of experts, there are three awards: Technology & Innovation, Mediation & Science, Adventure & Environmental Ethics.

Following the success of the first two Monaco Smart & Sustainable Marina Rendezvous (next one 24-25 September 2023), M3 (Monaco Marina Management) has broadened its remit to promote progress on sustainability solutions for superyachts in organising the first Monaco Smart Yacht Rendezvous (also on the 24th). Dedicated to yachting industry players (boats 24m and over) and innovation companies keen to provide a collective response to climate issues, this Rendezvous hosted by the YCM is supported by the Prince Albert II of Monaco Foundation, Credit Suisse, MB92 Group, and innovation for a sustainable economy experts Blumorpho. With the philosophy being to promote young companies offering new solutions across the whole life cycle of a yacht, the first edition gathers an ecosystem of players to collaborate on how to exploit innovative technologies that are driving sustainability. Naval architects, owners, captains and shipyards will join investors, startups, scaleups and innovation industrialists to act together. The ultimate aim of the process is to present a Smart Innovative Award to pay tribute to smart solution in three categories start-up, scale-up and corporate.

For more information:
Press Office LaPresse – ufficio.stampa@lapresse.it

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4b02547b-07cb-463b-9f26-76c78a04dad6
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

GlobeNewswire Distribution ID 8793590

More than 50 leading global companies unite to make unprecedented collective commitment to SDG 6, call upon other companies to join “Open Call for Water Action” during historic UN 2023 Water Conference

Through Business Leaders’ Open Call to Accelerate Water Action, companies commit to build water resilience across operations and supply chains, accelerate collective positive water impact in at least 100 water-stressed basins by 2030

New York, U.S.A., March 22, 2023 (GLOBE NEWSWIRE) — During the opening day of the UN 2023 Water Conference, over 50 of the world’s largest corporations, operating in over 130 countries and employing 2 million people worldwide, launched the Business Leaders’ Open Call for Accelerating Water Action. The Open Call for Water Action is an unprecedented appeal for private sector action to help solve the global water crisis and advance progress on SDG 6 to ensure access to water and sanitation for all. The Open Call provides a unified commitment by the corporate sector to the Water Action Agenda, the main outcome of the historic UN Water Conference.

By joining the Open Call for Water Action, companies commit to work to build water resilience across their own global operations and supply chains. They also pledge to work collaboratively across sectors to achieve collective positive water impact in at least 100 prioritized water-stressed basins by 2030. The strategy aims to contribute to water security for 3 billion people, and help enable safe drinking water and sanitation for more than 300 million people.

“We need concerted, collective action to ensure that there will be enough water for everyone in the very near future,” said Sanda Ojiambo, Executive Director and CEO of the United Nations Global Compact. “Companies are the world’s largest water users and have a vested interest in ensuring that water resources are managed responsibly, fairly and sustainably. We hope this Open Call will mobilize the action we need to ensure the private sector becomes a good custodian of water resources.”

Water insecurity is one of the most pressing sustainability challenges of the 21st century, presenting humanitarian, environmental, and economic concerns. More than 2 billion people lack safe drinking water; a 40 percent water deficit is projected by 2030; and water-protecting ecosystems have experienced rapid destruction. Climate change continues to significantly intensify these risks, adding further urgency to act. CDP estimates that some $300 billion of business value is at risk due to water scarcity, pollution, and climate change.

“The Open Call is mobilizing the corporate sector on water in a pivotal new way–through radical collaboration,” said Jason Morrison, President of the Pacific Institute and Head of the CEO Water Mandate. “By bringing together leading companies to act inwardly in their own operations and supply chains and outwardly by joining hands in collective action in basins around the world, the Open Call can catalyze more water action than companies can achieve on their own.”

Companies today announcing their commitment to the Business Leaders’ Open Call to Accelerate Action on Water include: AB InBev, ADM, ANDESS, AQUADAT, Arca Continental, AstraZeneca, Banka BioLoo Limited, Bayer, BIOAZUL SL, Braskem, Cargill, Coca-Cola Europacific Partners, Coca-Cola FEMSA, Colgate-Palmolive, Cristalina Saneamento, Crown Holdings, Inc., Cummins Inc., Danone, Diageo, DOW, DP World, DuPont, Ecolab, Elevate Textiles, Inc., ENGIE, FLSmidth, Gap Inc., Givaudan, GSK, HCL Technologies Limited, HEINEKEN N.V., Inditex, S.A., Inter IKEA Group, Johnson Matthey, Kelani Valley Plantations PLC, Kemira Oyj, KLT Filtration Ltd., Mahindra Group, MGM Resorts International, Microsoft, Nazava Water Filters, Netafim, Orbia, Penta Falcon, PJSC PhosAgro, Recogida General De Residuos y Aguas S.L, Reckitt, Solenis LLC, Starbucks, The Coca-Cola Company, The Crescent Textile Mills Limited, Veolia, VIATRIS, and Xylem.

“Water is critical to business and life—and yet two billion people around the world are currently living in water-stressed areas,” said Christophe Beck, Chairman and CEO of Ecolab. “Businesses must accelerate action to help address the global water crisis. We have all the solutions we need to produce business growth and protect human lives. I call on my peers in the private sector to join us in this ambitious movement to build a water-resilient future.”

Dolf van den Brink, Chief Executive Officer and Chairman of the Executive Board at Heineken N.V., said: “Our water strategy focuses on water efficiency, circularity and watershed health protection, especially in water-stressed areas. Over the last decade, we have learned that collective action is a critical enabler to create more systemic change, as we have seen in Indonesia and Mexico where we operate. The Open Call will empower organisations to mobilise behind common water basins to drive collective action at scale and create a water resilient future for all.”

The Open Call for Water Action is led by the CEO Water Mandate, a partnership between the UN Global Compact and the Pacific Institute to advance corporate water stewardship around the world. It is also championed by the Water Resilience Coalition, a CEO-led initiative of the CEO Water Mandate that aims to elevate water action to the top of corporate agendas. The Open Call is also supported by the International Chamber of Commerce, Ceres, the Alliance for Water Stewardship, and AquaFed.

The Open Call is part of the broader 2030 strategy of the Water Resilience Coalition. The Water Resilience Coalition Investment Portfolio, launched on 16 March 2023, is an example of one initiative companies can participate in as part of the Open Call. This innovative investment platform has identified an investment pipeline of at least US$1 billion in capital market investment instruments to accelerate action on water resilience and SDG 6.

Five member companies of the Water Resilience Coalition and the U.S. International Development Finance Corporation (DFC) last week announced $139 million of investments in the Portfolio’s first fund. The fund will focus on supporting water, sanitation, and hygiene (WASH) initiatives to impact 5 million people in 8 countries.

The Open Call for Water Action is available at wateractionnow.org.

Notes to Editors

About the CEO Water Mandate

The CEO Water Mandate is a partnership between the UN Global Compact and the Pacific Institute that mobilizes business leaders on water, sanitation, and the Sustainable Development Goals for corporate water stewardship. Mandate endorsers commit to continuous progress against six core elements (direct operations, supply chain and watershed management, collective action, public policy, community engagement and transparency) and in so doing understand and manage their own water risks. For more information, follow @H2O_stewards on Twitter or visit ceowatermandate.org.

About the United Nations Global Compact

As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 17,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world. For more information, visit our website at unglobalcompact.org.

About the Pacific Institute

Founded in 1987, the Pacific Institute is a global water think tank that combines science-based thought leadership with active outreach to influence local, national, and international efforts in developing sustainable water policies. From working with Fortune 500 companies to disenfranchised communities, our mission is to create and advance solutions to the world’s most pressing water challenges. Since 2009, the Pacific Institute has also acted as co-secretariat for the UN Global Compact’s CEO Water Mandate, a global commitment platform that mobilizes a critical mass of business leaders to address global water challenges through corporate water stewardship. For more information, follow @PacificInstitut on Twitter, and visit pacinst.org.

About the Water Resilience Coalition

The Water Resilience Coalition is an industry-driven, CEO-led initiative of the United Nations Global Compact CEO Water Mandate that aims to elevate the long-term mounting crisis of global water stress to the top of the corporate agenda and to preserve the world’s freshwater resources through collective action in water-stressed basins and ambitious, quantifiable commitments. For more information, visit ceowatermandate.org/resilience.

Contact

For inquiries please contact:

UN Global Compact
Alexandra Gee
gee@unglobalcompact.org

CEO Water Mandate / Water Resilience Coalition
Ilsa Ruiz Hughes
iruiz@pacinst.org

United Nations Global Compact
media@unglobalcompact.org

GlobeNewswire Distribution ID 8793455

AGF Management Limited Reports First Quarter 2023 Financial Results

TORONTO, March 22, 2023 (GLOBE NEWSWIRE) —

  • Reported quarterly diluted earnings per share of $0.26
  • Positive mutual fund net sales of $221 million for the quarter
  • Increased quarterly dividend to $0.11 per share

AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the first quarter ended February 28, 2023.

AGF reported total assets under management and fee-earning assets1 of $41.9 billion compared to $41.8 billion as at November 30, 2022 and $42.0 billion as at February 28, 2022. Year-over-year, the slight AUM decline was driven by market volatility, offset by positive net sales.

“During a time of market uncertainty, we remain focused on providing our clients with consistency when it comes to our performance, our investment approach and our client interactions,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. “We are well-positioned with a robust platform of global strategies across multiple vehicles and asset classes designed to meet the ever-evolving needs of our clients.”

AGF’s mutual fund gross sales were $982 million for the quarter compared to $989 million in the comparative period. Mutual fund net sales were $221 million compared to $330 million in the comparative period, marking the 10th consecutive quarter of positive net sales. AGF’s sales have continued to outpace the industry. During the quarter, the industry2 reported net redemptions, while AGF mutual funds remained in net sales.

“Given AGF’s solid performance this quarter, we continued to experience strong flows and positive net sales, while leveraging our partnerships,” said Judy Goldring, President and Head of Global Distribution, AGF. “We are seeing success with our sales strategy as we focus on the IIROC channel in Canada and gain momentum through our turnkey asset management programs in the U.S.”

“We take a thoughtful approach to expense management,” added McCreadie. “However, our strong investment performance and continued execution against our sales strategy will have an initial short-term impact on our profitability driven by an increase in success-based expenses.”

1 Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.
2 Total long-term mutual funds in the Canadian mutual funds industry per Investment Funds Institute of Canada (IFIC).

Key Business Highlights:

  • AGF announced a 10% increase to its first quarter dividend to $0.11 per share payable on April 21, 2023 to shareholders on record as at April 11, 2023.
  • As at February 28, 2023, AGF’s investment performance outperformed its one- and three-year targets (50% and 40% respectively, with 1st percentile being best possible performance) with an average one-year percentile of 36%, up from 56% in 2022, and an average three-year percentile of 33%, up from 46% in 2022.
  • The firm’s investment performance spans across a broad range of categories and styles, where 70% and 75% of its strategies outperformed their peers on a 1- and 3-year basis, respectively, based on gross returns (before fees) within the same category.
  • Over 60% of AGF’s Series F funds available in Canada managed by AGF Investments Inc. have a 4 or 5-star Overall Morningstar Rating™ across all asset classes as of February 28, 2023.*
  • AGF Investments Inc. was recognized with FundGrade A+® Awards for AGF American Growth Class, AGF Fixed Income Plus Fund, AGF Global Convertible Bond Fund and AGF Global Select Fund.**
  • In January, the firm announced new ETF and mutual fund names unified under the AGF brand in order to better reflect the continued integration of AGF’s quantitative and fundamental investing teams.
  • W. Robert (Bob) Farquharson has retired from the AGF Board of Directors and has been named Vice-Chairman Emeritus in recognition of his long and successful career at AGF. He first joined AGF in 1963 as an analyst and over a period of 60 years, managed a number of AGF funds and served the company in senior executive and director roles.

Financial Highlights:

  • Total net revenue, was $80.1 million for the three months ended February 28, 2023, compared to $81.7 million for the three months ended November 30, 2022, and $89.3 million for the comparative prior year period. The decline was influenced by lower income on Private Capital long-term investments, which can be variable quarter to quarter and impacted by the timing of monetizations and cash distributions.
  • Selling, general and administrative costs were $53.0 million for the three months ended February 28, 2023, compared to $49.3 million in 2022. The increase in SG&A was influenced by the continued improvement in investment performance and a 39% increase in the AGF.B share price.
  • EBITDA before commissions for the three months ended February 28, 2023 was $27.1 million, compared to $40.0 million in the prior year comparative period.
  • Net income for the three months ended February 28, 2023 was $17.6 million ($0.26 diluted EPS), compared to $12.9 million ($0.18 diluted EPS) in the prior year comparative period.
Three months ended
  February 28,     November 30,     February 28,  
(in millions of Canadian dollars, except per share data)   2023     2022     2022  
Revenues
Management, advisory and administration fees $ 106.8 $ 103.0 $ 112.6
Trailing commissions and investment advisory fees (33.8) (32.5) (35.6)
Net management, advisory and administration fees1 $ 73.0 $ 70.5 $ 77.0
Deferred sales charges 1.8 1.8 1.5
Share of profit (loss) of joint ventures 0.3 0.5 (0.6)
Other income from fee-earning arrangements 0.7 0.8 0.8
Fair value adjustments and other income 4.3 8.1 10.6
Total net revenue1 80.1 81.7 89.3
Selling, general and administrative 53.0 51.5 49.3
Deferred selling commissions 19.3
EBITDA before commissions1 27.1 30.2 40.0
EBITDA1 27.1 30.2 20.7
Net income 17.6 21.6 12.9
Diluted earnings per share 0.26 0.32 0.18
Free cash flow1 19.3 24.1 13.3
Dividends per share 0.10 0.10 0.09
(end of period) Three months ended
  February 28,     November 30,     February 28,  
(in millions of Canadian dollars)   2023     2022     2022  
Mutual fund Assets Under Management (AUM)2 $ 24,029 $ 23,898 $ 23,625
Institutional, sub-advisory and ETF accounts AUM 8,511 8,514 8,751
Private Wealth AUM 7,252 7,275 7,410
Private Capital AUM 54 55 69
Total AUM $ 39,846 $ 39,742 $ 39,855
Private Capital fee-earning assets3 2,082 2,077 2,100
Total AUM and fee-earning assets3 41,928 41,819 41,955
Mutual fund net sales2 221 251 330
Average daily mutual fund AUM2 23,782 22,504 24,075
1 Net management, advisory and administration fees, total net revenue, EBITDA before commissions, EBITDA, and free cash flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.
2 Mutual fund AUM includes retail AUM, pooled fund AUM and institutional client AUM invested in customized series offered within mutual funds.
3 Fee-earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers.

For further information and detailed financial statements for the first quarter ended February 28, 2023, including Management’s Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to AGF’s website at www.agf.com under ‘About AGF’ and ‘Investor Relations’ and at www.sedar.com.

Conference Call

AGF will host a conference call to review its earnings results today at 11 a.m. ET.

The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/ovjgdyso. Alternatively, the call can be accessed over the phone by registering here or in the Investor Relations section of AGF’s website at www.agf.com, to receive the dial-in numbers and unique PIN.

A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm delivering excellence in investing in the public and private markets through its three distinct business lines: AGF Investments, AGF Private Capital and AGF Private Wealth.

AGF brings a disciplined approach focused on providing an exceptional client experience and incorporating sound responsible and sustainable practices. The firm’s investment solutions, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $42 billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF Management Limited shareholders, analysts and media, please contact:

Courtney Learmont
Vice-President, Finance
647-253-6804, InvestorRelations@agf.com

Caution Regarding Forward-Looking Statements

This press release includes forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects,’ ‘estimates,’ ‘anticipates,’ ‘intends,’ ‘plans,’ ‘believes’ or negative versions thereof and similar expressions, or future or conditional verbs such as ‘may,’ ‘will,’ ‘should,’ ‘would’ and ‘could.’ In addition, any statement that may be made concerning future financial performance (including income, revenues, earnings or growth rates), ongoing business strategies or prospects, fund performance, and possible future action on our part, is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, business prospects, business performance and opportunities. While we consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the financial services industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us due to, but not limited to, important risk factors such as level of assets under our management, volume of sales and redemptions of our investment products, performance of our investment funds and of our investment managers and advisors, client-driven asset allocation decisions, pipeline, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, technological changes, cybersecurity, the possible effects of war or terrorist activities, outbreaks of disease or illness that affect local, national or international economies (such as COVID-19), natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply or other catastrophic events, and our ability to complete strategic transactions and integrate acquisitions, and attract and retain key personnel. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Other than specifically required by applicable laws, we are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete discussion of the risk factors that may impact actual results, please refer to the ‘Risk Factors and Management of Risk’ section of the 2022 Annual MD&A.

*About Morningstar

Morningstar Ratings reflect performance as of February 28, 2023 and are subject to change monthly. The Overall Morningstar Rating™ measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) ratings. For more information see www.morningstar.ca.

© 2023 Morningstar Inc., All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Learn More: https://www.agf.com/en/top-performers/index.jsp

**About the Fundata FundGrade A+ Rating

FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see https://www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

AGF American Growth Class won in the U.S. Equity CIFSC Category, out of 836 funds. The FundGrade A+ start date was 1/31/2013 and the FundGrade A+ end date was 12/31/2022.

AGF Fixed Income Plus Fund won in the Canadian Fixed Income CIFSC Category, out of 311 funds. The FundGrade A+ start date was 1/31/2013 and the FundGrade A+ end date was 12/31/2022.

AGF Global Convertible Fund won in the High Yield Fixed Income CIFSC Category, out of 191 funds. The FundGrade A+ start date was 1/31/2016 and the FundGrade A+ end date was 12/31/2022.

AGF Global Select Fund won in the Global Equity CIFSC Category, out of 1146 funds. The FundGrade A+ start date was 1/31/2013 and the FundGrade A+ end date was 12/31/2022.

GlobeNewswire Distribution ID 8793070

Freshworks Embeds Generative AI to Help Customer Support, Sales and Marketing Teams Improve Quality and Efficiency

Freshworks’ extends its Freddy artificial intelligence strategy with the latest GPT large language models

Freddy AI Autocomplete

Support agents can save keystrokes and respond faster to customer inquiries, with predictive sentence completion.

SAN MATEO, Calif., March 22, 2023 (GLOBE NEWSWIRE) — Freshworks Inc. (NASDAQ: FRSH) today announced new GPT-based conversational enhancements to Freshworks’ natively-built AI powered assistant, Freddy. Using OpenAI’s ChatGPT and underlying large language models, the latest generative AI capabilities of Freddy help a wide range of customer-facing professionals work faster, smarter, and more effectively. Customer service agents respond quickly to customers and employees in the right tone, marketers compose more compelling copy in a fraction of the time, and salespeople craft powerful emails that hook in a prospect.

Freddy AI Email Generator

Marketers using Freshmarketer™, Freshworks’ marketing automation suite, can write better email copy in less time to improve open rates and engagement.

“We’ve made significant investments in our AI strategy over the last five years to enhance agent productivity and their customers’ experience. The newest Freddy updates using the latest in GPT large language models bring even more value to these experiences,” said Prakash Ramamurthy, Chief Product Officer at Freshworks. “We are fundamentally transforming how Freshworks customers will interact with our products through more conversations and fewer clicks.”

Freddy AI Rephraser

Support agents using Freshchat can replace casual language with more formal and clear responses.

Conversational AI will be embedded via Freddy across Freshworks’ entire customer and employee suite of products. Customer support agents will deliver faster issue resolution and have higher quality conversations with customers. Marketers will receive smart customer segmentation and optimized email content to maximize campaign efficacy. Sellers will close more deals through recommendations on opportunities with highest potential.

Today, Freshworks customers participating in the Freddy AI beta programs are able to:

  • Summarize Conversations: Support agents using Freshchat™ can view an automatic summary of customer conversations to gain context, rather than reading through an entire conversation before responding.
  • Rephrase Responses: Support agents can replace casual language with more formal and clear responses.
  • Autocomplete Content: Support agents can save keystrokes and respond faster to customer inquiries, with predictive sentence completion.
  • Generate Articles: Support agents can save time by creating contextual knowledge-base articles and FAQs using generative AI and simple prompts.
  • Write Email Copy: Marketers using Freshmarketer™, Freshworks’ marketing automation suite, can write better email copy in less time to improve open rates and engagement. Sellers can create personalized emails tailored to individual prospects’ specific needs and pain points.
Freddy AI Summarizer

Support agents using Freshchat™ can view an automatic summary of customer conversations to gain context, rather than reading through an entire conversation before responding.

Learn more about Freshworks’ Freddy and sign up for the new Freshchat beta program here, and Freshmarketer beta program here.

About Freshworks Inc.
Freshworks Inc. (NASDAQ: FRSH) makes business software people love to use. Purpose-built for IT, customer support, and sales and marketing teams, our products empower the people who power business. Freshworks is fast to onboard, priced affordably, built to delight, yet powerful enough to deliver critical business outcomes. Headquartered in San Mateo, California, Freshworks operates around the world to serve more than 60,000 customers including Allbirds, Blue Nile, Bridgestone, Databricks, Klarna, NHS, OfficeMax, and PhonePe. For the freshest company news visit www.freshworks.com and follow us on Facebook, LinkedIn and Twitter.

© 2023 Freshworks Inc. All Rights Reserved. Freshworks and its associated logo is a trademark of Freshworks Inc. All other company, brand and product names may be trademarks or registered trademarks of their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any first parties of Freshworks Inc. or any aspect of this press release.

Media Relations Contact:
Erika Howard
pr@freshworks.com
408-348-1087

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3e4c5704-5736-456b-aa3b-5c3b0a12eecb

https://www.globenewswire.com/NewsRoom/AttachmentNg/eddbcf79-ec06-409b-8ff1-a559fe56f842

https://www.globenewswire.com/NewsRoom/AttachmentNg/e1c8ce9f-3ca0-48e4-b4f7-723a852fdc06

https://www.globenewswire.com/NewsRoom/AttachmentNg/8a28042a-551e-4533-a7c5-7a995ff04385

GlobeNewswire Distribution ID 8793378

GreenIT and Copenhagen Infrastructure Partners to develop three floating offshore wind farms in Italy with 2 GW capacity

The partnership strengthens its commitment to the Italian offshore wind floating industry with three new projects located approximately 30 km off the coasts of Latium and Sardinia. The three wind farms make the consortium one of the largest developers in the sector in Italy, with a pipeline totaling almost 3 GW, enough to satisfy the electricity consumption of around 2.5 million households.

ROME and MILAN, Italy and COPENHAGEN, Denmark, March 22, 2023 (GLOBE NEWSWIRE) — GreenIT, the Italian renewable energy joint venture between Plenitude (Eni) and CDP Equity (CDP Group), and Copenhagen Infrastructure Partners (CIP) through its Flagship Funds have signed an agreement to develop three floating offshore wind projects in Latium and Sardinia. The plants will be located on average roughly 30 km off from the coast and have an overall capacity of approximately 2 GW.

The agreement involves the development of a project in Latium, off the coast of Civitavecchia, for a total capacity up to 540 MW, and two other wind farms located off the coast of Olbia (Sardinia), with a power of around 500 MW and 1,000 MW. Combined, the three projects will produce around 5 TWh/year with commercial operation expected between 2028-2031 once the authorization process and subsequent construction phase are completed.

The partnership’s offshore wind portfolio in Italy will thus reach almost 3 GW with a yearly production of around 7 TWh of renewable energy, enough to satisfy the electricity consumption of around 2.5 million households and contributing to the decarbonization objectives of the 2030 National Integrated Energy and Climate Plan.

The three offshore projects will be using floating foundations, utilizing innovative technical solutions aimed at minimizing environmental and visual impact, and will benefit from technological and logistic synergies with the other offshore wind initiatives managed within the same partnership.

The wind farms will be developed by a joint working team, in collaboration with Copenhagen Offshore Partners – the exclusive offshore wind development partner of CIP – and NiceTechnology and 7 Seas Wind Power, Italian companies with proven experience in the offshore plant sector, which have collaborated with GreenIT and CIP on the deployment of two other wind farms in Sicily and Sardinia.

This new agreement represents an additional strategic step and a firm commitment to strengthening the floating offshore wind industry in Italy, providing a significant contribution towards a low carbon future as well as encouraging the development of the local supply chain.

About GreenIT
GreenIT is a joint venture, owned 51% by Plenitude (Eni) and 49% by CDP Equity, for the development, construction, and management of plants for the production of energy from renewable sources in Italy. The joint venture, created in 2021, is part of the strategy aimed to support the country’s energy transition, increasing the generation of renewable energy, in line with the objectives set by the 2030 Integrated National Energy and Climate Plan. For more information, visit www.green-it.online/

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages ten funds and has to date (March 2023) raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.com

For further information, please contact:

Eni corporate contacts
Press office:
Tel. +39 0252031875/+39 0659822030


CDP Media Relations
Mail: ufficio.stampa@cdp.it
Phone: +39 06 42213990


Copenhagen Infrastructure Partners
Simon Mehl Augustesen, Chief Communication Officer
Phone: +45 3052 6721
Email: siau@cip.dk

GlobeNewswire Distribution ID 1000798702