AGF Reports June 2010 Mutual Fund Sales

TORONTO, July 5 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $41.9 billion as at June 30, 2010, an increase of 8.9% from June 30, 2009.

    
    -------------------------------------------------------------------------
                                         Gross   Redemp-       Net       Net
                              Assets     Sales     tions     Sales     Sales
                             at June      June      June      June      June
    ($ millions)               30/10      2010      2010      2010      2009
    -------------------------------------------------------------------------
    Long-term Funds          $20,500   $ 160.1   $ 320.4   $(160.3)  $ (44.1)
    -------------------------------------------------------------------------
    Money Market                 423       5.8      21.9     (16.1)    (17.5)
    -------------------------------------------------------------------------
    Total Mutual Funds       $20,923   $ 165.9   $ 342.3   $(176.4)  $ (61.6)
    -------------------------------------------------------------------------
    Institutional and
     Strategic Accounts +
     High-net-worth           21,018
    ---------------------------------
    Total Assets             $41,941
    ---------------------------------
    

Net redemptions of long-term mutual funds were $160.3 million for the month ended June 30, 2010 compared with long-term mutual fund net redemptions of $44.1 million in June 2009.

Average daily mutual fund AUM for June 2010 was $21.3 billion compared to $21.2 billion in June 2009. AGF institutional, strategic and high-net-worth AUM increased to $21.0 billion from $17.3 billion at June 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 $42 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

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