AGF Reports October 2007 Mutual Fund Sales



    Solid Sales Continue

    TORONTO, Nov. 2 /CNW/ - AGF Management Limited (AGF) reported gross sales
of long-term funds of $447.4 million and net sales of long-term funds of
$82.4 million for the month ended October 31, 2007. Total mutual fund assets
under management (AUM) were $30.7 billion as at October 31, 2007.
    "We are entering the final month of our fiscal year with a lot of
momentum," said Blake C. Goldring, chairman and chief executive officer, AGF
Management Limited. "Our sales are solid, our people are focused and our
company is positioned to continue delivering strong results."

    
    -------------------------------------------------------------------------
    ($ millions)              Assets     Gross    Redemp-    Net      Net
                                at       Sales     tions     Sales    Sales
                              October   October   October   October  October
                               31/07     2007      2007      2007      2006
    -------------------------------------------------------------------------
    Long-term funds           30,245     447.4     365.0      82.4     158.3
    -------------------------------------------------------------------------
    Money market                 488      16.1      29.9     (13.8)     (5.9)
    -------------------------------------------------------------------------
    Total mutual funds        30,733     463.5     394.9      68.6     152.4
    -------------------------------------------------------------------------
    Institutional + private
     client                   24,396
    -------------------------------------------------------------------------
    Total Assets              55,129
    ---------------------------------
    

    Average daily mutual fund AUM for October 2007 were $30.5 billion, up
from $30.0 billion for September 2007. AGF institutional and private client
AUM grew 55.4% to $24.4 billion, up from $15.7 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
$55.1 billion, up 33.4% from $41.3 billion at October 31, 2006.
    AGF continually builds on the rigour and discipline of its investment
management process. This has resulted in impressive investment performance.
AGF had 75% of its assets above median over the two and ten year periods
ending September 30, 2007.

    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 $55 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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