AGF Reports November 2007 Mutual Fund Sales



    Fiscal 2007 a great 50th anniversary year

    TORONTO, Dec. 4 /CNW/ - AGF Management Limited (AGF) reported gross sales
of long-term funds of $398.9 million and net sales of long-term funds of
$10.8 million for the month ended November 30, 2007. Total mutual fund assets
under management (AUM) were $53.7 billion as at November 30, 2007.
    "Overall, this has been a great 50th anniversary year for AGF," said
Blake C. Goldring, Chairman and Chief Executive Officer, AGF Management
Limited. "Our long-term focus helps us put the current market volatility in
perspective. We have a strong foundation in place and are excited about taking
our business to new heights in fiscal 2008 and beyond."

    
    -------------------------------------------------------------------------
    ($ millions)   Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                    November     November     November   November   November
                       30/07         2007         2007       2007       2006
    -------------------------------------------------------------------------
    Long-term
     funds            29,614        398.9        388.1       10.8      225.6
    -------------------------------------------------------------------------
    Money market         438         19.5         28.4       (8.9)      (1.6)
    -------------------------------------------------------------------------
    Total mutual
     funds            30,052        418.4        416.5        1.9      224.0
    -------------------------------------------------------------------------
    Institutional
     + private
     client           23,691
    -------------------------------------------------------------------------
    Total Assets      53,743
    -------------------------
    

    Average daily mutual fund AUM for November 2007 were $29.5 billion. AGF
institutional and private client AUM grew 49.1% to $23.7 billion, up from
$15.9 billion one year ago. Institutional and private client assets are up due
to investment performance, new mandates and the acquisition of 80% of
Highstreet Partners Limited. Total fee-earning AUM, including mutual funds,
institutional and private client, were $53.7 billion, up 25.5% from
$42.8 billion at November 30, 2006.

    AGF Management Limited was recently recognized for its leadership
position in the Canadian financial services industry at the 2007 Canadian
Investment Awards. Blake C. Goldring was honoured with the industry's coveted
2007 Person of Influence and three AGF funds (AGF European Equity Class, AGF
Precious Metals Fund and AGF Emerging Markets Fund) were repeat winners for
outstanding performance in their respective categories.

    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. 2007
marks AGF's 50th anniversary of providing Canadians with innovative investment
solutions across the wealth continuum. 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 Institutional Account
Services, private client products, and AGF Trust GICs, loans and mortgages.
With approximately $54 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, 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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