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2017 Annual Shareholder
Meeting
In the course of today’s meeting, officers of the Corporation may make, in their remarks or in response to questions, and the accompanying materials may include, statements containing forward-looking information. Certain statements, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Corporation’s current expectations, or with respect to disclosure regarding the Corporation’s public subsidiaries, reflect such subsidiaries’ disclosed current expectations. Forward-looking statements are provided for the purposes of assisting the listener/reader in understanding the Corporation’s financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management’s current expectations and plans relating to the future and the listener/reader is cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Corporation and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods. 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”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”.
By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Corporation’s and its subsidiaries’ control, affect the operations, performance and results of the Corporation and its subsidiaries and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, business competition, operational and reputational risks, technological change, changes in government regulation and legislation, changes in tax laws, unexpected judicial or regulatory proceedings, catastrophic events, the Corporation’s and its subsidiaries’ ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, and the Corporation’s and its subsidiaries’ success in anticipating and managing the foregoing factors.
The listener/reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including that the list of factors in the previous paragraph, collectively, are not expected to have a material impact on the Corporation and its subsidiaries. While the Corporation considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.
Other than as specifically required by applicable Canadian law, the Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Additional information about the risks and uncertainties of the Corporation’s business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials, including its most recent Management’s Discussion and Analysis and its most recent Annual Information Form, filed with the securities regulatory authorities in Canada and available at www.sedar.com.
Certain financial terms which may be included in statements today or in the accompanying materials, such as adjusted net earnings, are non-IFRS financial measures that do not have a standard meaning and may not be comparable to similar measures used by other entities. Please refer to the Corporation’s annual and most recent interim Management’s Discussion and Analysis for more information, including how such measures are defined, an explanation of their purpose and a reconciliation of the non-IFRS measures to the corresponding IFRS measures, where comparable IFRS measures exist.
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Net Earnings 1,919 2.69
Adjusted Net Earnings 2,105 2.95
2016($ MILLION) PER SHARE ($)
attributable to common shareholders
$1.57$1.57
2017
$1.65
(annualized)
$1.40$1.49
$1.40
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Dividends per Share
2014 2015 20162013
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Return on Equity
12.7%
Adjusted Net Earnings
Industry Environment
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Over 30 million clients
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Assets under administration
$1.4 trillion
Assets under management
$792 billion
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Contribution to Power Financial
$1,790 million
2016 Net Earnings
$2,641 million
attributable to common shareholders
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Paul Mahon President and Chief Executive Officer
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Stefan Kristjanson President and Chief Operating Officer Canada
Canada
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
CANADA
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
more than
13 million people
1 in 3 Canadians
Canada
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Digital Focus
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
88% of the 56 million health and dental claims in 2016 were processed digitally
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Digital Focus
Canada
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
United States
Robert L. Reynolds President and Chief Executive OfficerGreat-West Lifeco U.S.
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
UNITED STATES
100 years
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Over 8.2 million individuals
2nd-largest record keeper of defined contribution pension plans in the U.S.
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
UNITED STATES
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Industry Recognition
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
UNITED STATES
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Europe
Arshil Jamal President and Chief Operating OfficerEurope and Reinsurance
Europe
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETINGPOWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Jeffrey R. Carney President and Chief Executive OfficerIGM Financial
President and Chief Executive Officer Investors Group
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
2016 Adjusted Net Earnings
$737 million
Contribution to Power Financial
$452 million
available to common shareholders
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Total assets under management
$142 billion at December 31, 2016
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
To improve clients’ financial well-being
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Certified Financial Planner
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Managed Solutions Products
10%
20%
30%
40%
50%
60%
70%
2008 2009 2010 2011 2012 2013 2014 2015 2016
Share of long-term Gross Sales
Share of long-term Fund Assets
65%
38%
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Assets in High-Net-Worth Solutions
$32.3
2016
At December 31 ($ billion)
$28.0
2015
15%
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Net Sales
$261 million best since 2007
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Gross Sales
$2.1 billion +15%
Q4 2016
$2.9
Q1 2017
$890
Q1 2017
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Strong Momentum
$2.3
Q1 2016
Gross Sales ($ billion)
$467
Q1 2016
Net Sales ($ million)
29%91%
Q1 2017
$83.9
8.5%
$81.2
2016
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
$74.9
2015
At December 31 and at March 31 ($ billion)
Mutual Fund Assets Under Management
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Barry McInerney President and Chief Executive OfficerMackenzie Investments
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Committed to the financial success of investors through their eyes
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
1. Deliver competitive and consistent risk-adjusted performance
2. Offer innovative and high-quality investment solutions
3. Advance brand leadership
4. Accelerate distribution
5. Drive operational excellence and discipline
6. Build on a winning culture
Q1 2017
$66$13$53
$62 $64
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Assets under Management
2015 2016
At December 31 and at March 31 ($ billion)
Record highmutual fund assets
$13$51
$13$49
Sub-advised & other
Mutual Funds
2016
$6.9
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Mutual Fund Gross Sales
$6.8
2015
Years ended December 31 ($ billion)
2.6%
Industry peers5.1%
$2.55
Q1 2017
$444
Q1 2017
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Strong Momentum
$1.84
Q1 2016
Mutual FundGross Sales ($ billion)
-$198
Q1 2016
Investment FundNet Sales ($ million)
38%$642
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
43% Highest share of mutual fund assets rated 4 or 5 star since 2013
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
New Product Success
40 mutual funds and 10 ETFs launched since 2013
$2 billion net inflows since inception
$700 million net inflows in 2016
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
13.9% Ownership
Total investment
$647 million
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
13.9% 13.9% 27.8%Combined
Ownership of+ =
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
CHINA: 2nd-largest economy and 2nd-largest stock market in the world
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
China AMC: 40 Million Individual Customers
Fintech
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETINGPOWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Fintech
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Arnaud Vial Managing Director of Pargesa
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
53.9% 9.4% 16.2% 7.5% 7.5% 17.0% 0.7%
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Portfolio Changes
(€ billion)
2013
€2.3
2014
€0.5
2015
€1.3
2012
—
€1.4 €0.8 €0.7€1.4Arkema
Suez Environnement Pernod Ricard
Total GDF Suez Iberdrola
Total Iberdrola
Total
SGS Umicore
Sienna Capital
Umicore Sienna Capital
adidas Umicore Ontex
Sienna Capital
2016
€2.5Total Engie
€1.6SGS
adidas Umicore Ontex
Burberry Sienna Capital
€5.7
€6.7
Acquisitions
Disposals
Contribution to Power Financial
$119 million
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
2016 Adjusted Net Earnings
SF321 million
Corporate Social
Responsibility
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
PowerFinancialCSR.com
WE SUPPORT
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
PowerFinancialCSR.com
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
PowerFinancialCSR.com
Industry Matters
First Quarter Results
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Net Earnings 484 0.68
Adjusted Net Earnings 501 0.70
2017($ MILLION) PER SHARE ($)
First Quarter Results
POWER FINANCIAL CORPORATION 2017 ANNUAL SHAREHOLDER MEETING
Quarterly Dividend
$0.4125 per common share
2017 Annual Shareholder
Meeting