TORONTO, July 19, 2012 /CNW/ - AGF Investments Inc. (AGF) today
announced that it has been awarded a Natural Resources mandate by
China's National Council for Social Security Fund (NCSSF).
The NCSSF, a government agency on the ministerial level directly under
the State Council of the People's Republic of China, is responsible for
the management and operation of the National Social Security Fund.
"This is a landmark win for AGF and for our expansive global
institutional business," said Blake C. Goldring, Chairman and Chief
Executive Officer of AGF Management Limited. "With our history of over
five decades of investment management experience, pension funds and
institutional investors continue to show confidence in our disciplined
investment philosophies and processes."
The mandate will be managed by AGF's Global Resources team, led by
Robert Lyon - a seasoned resources manager with over 20 years of
AGF has been managing a global resources strategy for over a decade and
currently oversees more than $1.3 billion in total Global Resources
Equity Strategy assets as of June 30, 2012.
The NCSSF engaged AGF in a thorough review process before granting the
"We are honoured to have been awarded this significant mandate which
recognizes AGF's proven track record in managing resources portfolios,"
said Chris Boyle, Senior Vice-President, Institutional for AGF
Investments Inc. "Our award-winning Global Resources team is well known
for generating consistent results and will use its disciplined
investment process to build retirement savings for Chinese investors."
"As a leading global investment management firm with a presence in
Beijing, Hong Kong and Singapore, we are pleased to be working with the
NCSSF and look forward to developing a long-term relationship with them
as we strengthen our commitment to doing business in this region,"
On August 1, 2000, the Central Committee of CPC and the State Council
decided to establish the National Social Security Fund and the National
Council for Social Security Fund (NCSSF) to manage and operate the
assets of the National Social Security Fund. The Fund serves as the
social security strategic reserve centralized by the central government
to meet the social security needs during the peak time period of the
future aging population. For more information on the NCSSF, visit http://www.ssf.gov.cn/Eng_Introduction/201206/t20120620_5603.html
About AGF Management Limited
AGF Management Limited (AGFML) is one of Canada's premier independent
investment management firms with offices across Canada and subsidiaries
around the world. AGFML's products include a diversified family of
award-winning mutual funds, mutual fund wrap programs and pooled funds.
AGFML also manages assets on behalf of institutional investors
including pension plans, foundations and endowments as well as for
private clients. In addition, AGF Trust is a complementary business
that offers GICs, loans and mortgages through the financial advisor and
mortgage broker channels. With approximately $43 billion in total
assets under management, AGFML serves more than one million investors.
AGFML trades on the Toronto Stock Exchange under the symbol AGF.B.
Caution Regarding Forward-Looking Statements
This release includes forward-looking statements. 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,' 'intends,' 'plans,' 'believes' or negative
versions thereof and similar expressions, or future or conditional
verbs such as 'may,' 'will,' 'should,' 'would' and 'could.'
Forward-looking statements are based on certain factors and
assumptions, including expected growth, results of operations, economic
factors, business prospects, business performance and opportunities.
While the company considers these factors and assumptions to be
reasonable based on information currently available, they may prove to
be incorrect. Forward-looking statements are not guarantees of future
performance, and actual events and results could differ materially from
those expressed or implied by forward-looking statements due to, but
not limited to, important risk factors such as level of assets under
management, volume of sales and redemptions of investment products,
performance of investment funds and of investment managers and
advisors, competitive fee levels for investment management products and
administration, and competitive dealer compensation levels, size and
default experience on the company's loan portfolio and cost efficiency
in loan operations and investment management operations, as well as
interest and foreign-exchange rates, taxation, changes in government
regulations, unexpected judicial or regulatory proceedings, and the
company's ability to complete strategic transactions and integrate
acquisitions. The company cautions 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.
Forward-looking statements are given only as at the date of this
release and other than specifically required by applicable laws, the
company is under no obligation (and expressly disclaims any such
obligation) to update or alter the forward-looking statements, whether
as a result of new information, future events or otherwise. Additional
risks and uncertainties can be found in our MD&A for the fiscal year
ended November 30, 2011 under the headings "Caution Regarding
Forward-Looking Statements" and "Risk Factors and Management of Risk"
and in our other filings with Canadian securities regulatory
For further information:
contact AGF Corporate Communications:
Karen Archer, Manager