AGF Reports May 2009 Mutual Fund Sales



    TORONTO, June 2 /CNW/ - AGF Management Limited (AGF) reported total
fee-earning assets under management (AUM) of $37.4 billion as at May 31, 2009,
an increase of 4.3% from April 30, 2009. Mutual fund assets of $20.9 billion
increased 4.5% during the month of May and 15.8% since the end of February
2009. Net redemptions of long-term mutual funds were $27.8 million for the
month ended May 31, 2009 compared with long-term fund net redemptions of
$103.0 million in May 2008.

    
    -------------------------------------------------------------------------
    ($ millions)   Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                   May 31/09     May 2009     May 2009   May 2009   May 2008
    -------------------------------------------------------------------------
    Long-term Funds  $20,319       $250.4       $278.2     $(27.8)   $(103.0)
    -------------------------------------------------------------------------
    Money Market         588          8.7         22.8      (14.1)      (9.1)
    -------------------------------------------------------------------------
    Total Mutual
    Funds            $20,907       $259.1       $301.0     $(41.9)   $(112.1)
    -------------------------------------------------------------------------
    Institutional
    and Strategic
    Accounts +
    High-net-worth    16,522
    ---------------------------
    Total Assets     $37,429
    ---------------------------
    

    Average daily mutual fund AUM for May 2009 was $20.8 billion. AGF
institutional, strategic and high-net-worth AUM declined to $16.5 billion from
$23.2 billion at May 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, AGF
Asset Management Group services for institutional and high-net-worth clients,
as well as AGF Trust GICs, loans and mortgages. With approximately $37.4
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.




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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