AGF Reports November 2009 Mutual Fund Sales

TORONTO, Dec. 2 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $44.6 billion as at November 30, 2009, an increase of 25.5% from November 30, 2008. Net redemptions of long-term mutual funds were $82.4 million for the month ended November 30, 2009, compared with long-term mutual fund net redemptions of $114.0 million in November 2008.

    
    -------------------------------------------------------------------------
    ($ millions)  Assets at  Gross Sales Redemptions  Net Sales   Net Sales
                  November    November    November    November    November
                  30/09         2009        2009        2009        2008
    -------------------------------------------------------------------------
    Long-term
     Funds        $22,264      $221.5      $303.9      $(82.4)    $(114.0)
    -------------------------------------------------------------------------
    Money Market      482         9.9        22.5       (12.6)      (10.5)
    -------------------------------------------------------------------------
    Total Mutual
     Funds        $22,746      $231.4      $326.4      $(95.0)    $(124.5)
    -------------------------------------------------------------------------
    Institutional
     and
     Strategic
     Accounts +
     High-net-
     worth         21,872
    ----------------------
    Total Assets  $44,618
    ----------------------
    

Average daily mutual fund AUM for November 2009 increased to $22.8 billion compared to $19.5 billion in November 2008 as a result of market appreciation. AGF institutional, strategic and high-net-worth AUM increased to $21.9 billion from $15.8 billion at November 2008 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 $44.6 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: 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, Public Relations and Public Affairs, (416) 865-4284, lucy.becker@AGF.com


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