AGF Reports January 2010 Mutual Fund Sales

TORONTO, Feb. 2 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $43.4 billion as at January 31, 2010, an increase of 28.5% from January 31, 2009.

    
    -------------------------------------------------------------------------
    ($ millions)   Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                   January    January      January      January    January
                   31/10      2010         2010         2010       2009
    -------------------------------------------------------------------------
    Long-term Funds $21,460       $226.6       $340.4    $(113.8)    $(53.0)
    -------------------------------------------------------------------------
    Money Market        438         14.7         21.6       (6.9)     (14.8)
    -------------------------------------------------------------------------
    Total Mutual
    Funds           $21,898       $241.3       $362.0    $(120.7)    $(67.8)
    -------------------------------------------------------------------------
    Institutional
    and Strategic
    Accounts +
    High-net-worth   21,453
    -----------------------
    Total Assets    $43,351
    -----------------------
    

Net redemptions of long-term mutual funds were $113.8 million for the month ended January 31, 2010 compared with long-term mutual fund net redemptions of $53.0 million in January 2009.

Average daily mutual fund AUM for January 2010 increased to $22.8 billion compared to $19.5 billion in January 2009 as a result of market appreciation. AGF institutional, strategic and high-net-worth AUM increased to $21.5 billion from $14.8 billion at January 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 $43.4 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: Greg Henderson, CA, Senior Vice-President and Chief Financial Officer, (416) 865-4156, greg.henderson@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

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