AGF Reports June 2008 Mutual Fund Sales



    TORONTO, July 3 /CNW/ - AGF Management Limited (AGF) reported total
fee-earning assets under management (AUM) of $49.6 billion as at June 30,
2008. Gross sales of long-term mutual funds were $443.0 million. Although net
redemptions of long-term mutual funds were $327.5 million for the month ended
June 30, 2008, they included approximately $200.0 million of redemptions
related to a client rebalancing.
    "While our June results were impacted by a client rebalancing, we are
pleased that AGF remains on the client's platform," said Blake C. Goldring,
chairman and chief executive officer, AGF Management Limited. "The current
market environment continues to pose challenges. However, we are strongly
committed to meeting the needs of our clients and remain confident in our
long-term fundamentals and objectives and the opportunities ahead."

    
    -------------------------------------------------------------------------
                   Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
    ($ millions)  June 30/08   June 2008    June 2008   June 2008  June 2007
    -------------------------------------------------------------------------
    Long-term funds  $26,634       $443.0       $770.5    $(327.5)    $172.2
    -------------------------------------------------------------------------
    Money market         501         13.1         22.3       (9.2)      (4.4)
    -------------------------------------------------------------------------
    Total mutual
     funds           $27,135       $456.1       $792.8    $(336.7)    $167.8
    -------------------------------------------------------------------------
    Institutional
     and strategic
     accounts +
    High-net-worth    22,512
    -------------------------
    Total Assets     $49,647
    -------------------------
    

    Average daily mutual fund AUM for June 2008 was $27.9 billion. AGF
institutional, strategic and high-net-worth AUM declined 7.4% to
$22.5 billion, down from $24.3 billion at June 2007, primarily as a result of
market volatility, as well as client rebalancing and redemptions which were
non-performance related, offset by new institutional mandates.

    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 more than 50 mutual
funds, the evolutionary AGF Elements portfolios, the Harmony asset management
program, AGF Asset Management Group services for institutional and
high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With
approximately $50 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; Media, please
contact: Lucy Becker, Vice-President, Corporate Communications, (416)
865-4284, lucy.becker@AGF.com


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