AGF Reports August 2007 Mutual Fund Sales



    Net sales positive despite market volatility

    TORONTO, Sept. 5 /CNW/ - AGF Management Limited (AGF) reported gross
sales of long-term funds of $366.7 million and net sales of long-term funds of
$37.3 million for the month ended August 31, 2007. Total mutual fund assets
under management (AUM) were $30.0 billion as at August 31, 2007.
    "Our business remains strong through this volatile time in the markets,"
said Blake C. Goldring, chairman and chief executive officer, AGF Management
Limited. "We appreciate the support from advisors and will continue working
closely with them to help their clients achieve their long-term financial
goals."

    
    -------------------------------------------------------------------------
    ($ millions)                         Gross   Redemp-       Net       Net
                           Assets at     Sales     tions     Sales     Sales
                              August    August    August    August    August
                               31/07      2007      2007      2007      2006
    -------------------------------------------------------------------------
    Long-term funds           29,506     366.7     329.4      37.3      28.9
    -------------------------------------------------------------------------
    Money market                 518      35.4      37.2      (1.8)     (8.5)
    -------------------------------------------------------------------------
    Total mutual funds        30,024     402.1     366.6      35.5      20.4
    -------------------------------------------------------------------------
    Institutional +
     private client           23,746
    -------------------------------------------------------------------------
    Total Assets              53,770
    ---------------------------------
    

    Average daily mutual fund AUM for August 2007 were $29.6 billion. Average
daily AUM for the three months ended August 31, 2007 were $30.3 billion
compared to $30.0 billion reported in the three months ended May 31, 2007. AGF
institutional and private client AUM grew 62.3% to $23.7 billion up from $14.6
billion one year ago. Institutional and private client assets are up due to
investment performance, new mandates and the acquisition of 80% of Highstreet
Partners Limited. Total fee-earning AUM, including mutual funds, institutional
and private client were $53.8 billion up 38.0% from $39.0 billion at August
31, 2006.
    AGF continually builds on the rigour and discipline of its investment
management process. This has resulted in impressive investment performance.
AGF had 81% of its assets above median over one year and 73% of its assets
above median for the 2 and 10 year periods ending July 31, 2007.
    AGF previously reported that no companies within the AGF group have
investments in asset backed commercial paper.

    About AGF Management Limited

    AGF Management Limited is one of Canada's premier investment management
companies with offices across Canada and subsidiaries around the world. 2007
marks AGF's 50th anniversary of providing Canadians with innovative investment
solutions across the wealth continuum. AGF's products and services include a
diversified family of more than 50 mutual funds, the evolutionary AGF Elements
portfolios, the Harmony asset management program, AGF Institutional Account
Services, Private Client Products, and AGF Trust GICs, loans and mortgages.
With approximately $54 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".





For further information:

For further information: AGF Management Limited shareholders and
analysts, please contact: Greg Henderson, Senior Vice-President and Chief
Financial Officer, (416) 865-4156, greg.henderson@AGF.com; Media, please
contact: Lucy Becker, Vice President, Corporate Communications, (416)
865-4284, lucy.becker@AGF.com

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