AGF Reports July 2009 Mutual Fund Sales



    TORONTO, Aug. 5 /CNW/ - AGF Management Limited (AGF) reported total
fee-earning assets under management (AUM) of $40.0 billion as at July 31,
2009, an increase of 3.8% from June 30, 2009. Mutual fund assets of $21.6
billion increased 1.5% during the month of July, marking the fifth consecutive
month of rising AUM. Net redemptions of long-term mutual funds were $48.4
million for the month ended July 31, 2009, compared with long-term fund net
redemptions of $128.3 million in July 2008.

    
    -------------------------------------------------------------------------
    ($ millions)   Assets at  Gross Sales  Redemptions   Net Sales  Net Sales
                  July 31/09    July 2009    July 2009   July 2009  July 2008
    -------------------------------------------------------------------------
    Long-term
     Funds           $20,999       $179.9       $228.3     $(48.4)   $(128.3)
    -------------------------------------------------------------------------
    Money Market         573          8.5         20.5      (12.0)      (3.5)
    -------------------------------------------------------------------------
    Total Mutual
     Funds           $21,572       $188.4       $248.8     $(60.4)   $(131.8)
    -------------------------------------------------------------------------
    Institutional
     and Strategic
     Accounts +
     High-net-worth   18,397
    -------------------------
    Total Assets     $39,969
    -------------------------
    

    Average daily mutual fund AUM for July 2009 was $21.0 billion. AGF
institutional, strategic and high-net-worth AUM declined to $18.4 billion from
$21.7 billion at July 2008, primarily as a result of market volatility.

    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. 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 high-net-worth clients, as well as AGF Trust GICs, loans
and mortgages. With approximately $40.0 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, 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, Corporate Communications, (416)
865-4284, lucy.becker@AGF.com

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