AGF Reports March 2009 Mutual Fund Sales



    TORONTO, April 2 /CNW/ - AGF Management Limited (AGF) reported total
fee-earning assets under management (AUM) of $34.5 billion as at March 31,
2009, an increase of 5.7% from February 28, 2009. Gross sales of long-term
mutual funds were $222.0 million and net redemptions of long-term mutual funds
were $32.7 million for the month ended March 31, 2009. Fiscal 2009
year-to-date redemptions of $1.1 billion are the lowest redemptions since 1999
when fiscal year-to-date redemptions were $693 million.

    
    -------------------------------------------------------------------------
                                     Gross
    $ millions)         Assets at    Sales   Redemptions Net Sales  Net Sales
                          March      March      March      March      March
                          31/09      2009       2009       2009       2008
    -------------------------------------------------------------------------
    Long-term Funds     $ 18,475   $  222.0   $  254.7   $  (32.7)  $  (20.4)
    -------------------------------------------------------------------------
    Money Market             631       22.9       26.0       (3.1)       1.6
    -------------------------------------------------------------------------
    Total Mutual Funds  $ 19,106    $ 244.9   $  280.7   $  (35.8)  $  (18.8)
    -------------------------------------------------------------------------
    Institutional and
     Strategic
     Accounts +
     High-net-worth       15,351
    -----------------------------
    Total Assets        $ 34,457
    -----------------------------
    

    Average daily mutual fund AUM for March 2009 was $18.4 billion. AGF
institutional, strategic and high-net-worth AUM declined to $15.4 billion from
$21.9 billion at March 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 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 $34.5 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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