AGF Reports April 2010 Mutual Fund Sales

TORONTO, May 4 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $44.9 billion as at April 30, 2010, an increase of 25.2% from April 30, 2009.

    
    -------------------------------------------------------------------------
    ($ millions)  Assets    Gross Sales  Redemptions  Net Sales   Net Sales
                  at        April 2010   April 2010   April 2010  April 2009
                  April
                  30/10
    -------------------------------------------------------------------------
    Long-term
     Funds          $22,041      $183.2       $341.5     $(158.3)     $(36.2)
    -------------------------------------------------------------------------
    Money Market        382         4.9         18.9       (14.0)      (11.4)
    -------------------------------------------------------------------------
    Total Mutual
     Funds          $22,423      $188.1       $360.4     $(172.3)     $(47.6)
    -------------------------------------------------------------------------
    Institutional
     and Strategic
     Accounts +
     High-net-
     worth           22,506
    ------------------------
    Total Assets    $44,929
    ------------------------
    

Net redemptions of long-term mutual funds were $158.3 million for the month ended April 30, 2010 compared with long-term mutual fund net redemptions of $36.2 million in April 2009.

Average daily mutual fund AUM for April 2010 increased to $22.6 billion compared to $19.8 billion in April 2009 as a result of market appreciation. AGF institutional, strategic and high-net-worth AUM increased to $22.5 billion from $15.9 billion at April 2009 as a result of market appreciation and new mandates.

About AGF Management Limited

AGF Management Limited is one of Canada's premier investment solutions firms with offices across Canada and subsidiaries around the world. AGF's products and services include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, services for institutional and private clients, as well as AGF Trust GICs, loans and mortgages. With approximately $45 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

SOURCE AGF

For further information: For further information: AGF Management Limited shareholders and analysts, please contact: Robert J. Bogart, CPA, Senior Vice-President and Chief Financial Officer, (416) 865-4264, bob.bogart@agf.com; Deirdre Neary, Director, Investor Relations, (416) 815-6268, deirdre.neary@AGF.com; Media, please contact: Lucy Becker, Vice-President, Public Relations and Public Affairs, (416) 865-4284, lucy.becker@AGF.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890