AGF Reports Record Breaking Mutual Fund Sales



    February 2007 gross and net sales were highest in company history

    TORONTO, March 2 /CNW/ - AGF Management Limited (AGF) today reported the
highest gross sales and net sales for any month in the history of the company.
Gross sales of long-term funds were $948.1 million and net sales of long-term
funds were $548.6 million for the month ended February 28, 2007.
    "This is the strongest month of mutual fund sales in AGF's history" said
Blake Goldring, chairman and chief executive officer, AGF Management Limited,
"We achieved this milestone by focusing on excellence in money management and
dedication to providing the right products along with world class service".

    
    -------------------------------------------------------------------------
    ($ millions)    Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                    February   February     February     February   February
                    28/07      2007         2007         2007       2006
    -------------------------------------------------------------------------
    Long-term funds  $28,368      $948.1      $399.5      $548.6       $52.9
    -------------------------------------------------------------------------
    Money market         430        16.0        25.0        (9.0)      (23.9)
    -------------------------------------------------------------------------
    Total mutual
     funds           $28,798      $964.1      $424.5      $539.6       $29.0
    -------------------------------------------------------------------------
    Institutional
     + PIM            22,929
    --------------------------
    Total Assets     $51,727
    --------------------------
    

    Average daily mutual fund AUM for February 2007 were $29.0 billion.

    The strategy in AGF's core mutual fund business has been to build
predictable excellence in product management, client relationship management
and investment management.
    AGF manages its product shelf proactively, with an aim to ensure there is
sufficient product breadth to satisfy changing client needs. Recently, AGF has
emphasized international investing because Canadians are committing more
investment dollars outside of Canada. Increased sales of international funds
accounted for the majority of the improvement in AGF's January net sales
results. Net sales of international equity funds for the month ended February
28, 2007 were $223.5 million, versus net redemptions of $50.7 million reported
in the same month last year.
    AGF's relationship management efforts were recognized when AGF was named
Advisors' Choice Favourite Investment Fund Company of the Year at the 2006
annual Canadian Investment Awards.
    AGF continually builds on the rigour and discipline in its investment
management process. This has resulted in AGF maintaining its industry leading
investment performance. To the end of January 2007, AGF had the highest
percentage of funds in the first quartile over three years and the second
highest percentage of funds in the first quartile over one year of any of the
10 largest mutual fund firms in Canada.
    AGF private investment management (PIM) and institutional AUM grew 70.9%
to $22.9 billion up from $13.4 billion one year ago. PIM and institutional
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 mandates and PIM, were $51.7 billion up 40.1% from $36.9
billion for the same period last year.

    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 Private Investment
Management, Institutional Account Services and AGF Trust GICs, loans and
mortgages. With approximately $52 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: Adrian Basaraba, Vice President, Finance and
Investor Relations, (416) 865-4203, adrian.basaraba@AGF.com; Media, please
contact: Lucy Becker, Vice President, Communications, AGF Funds Inc., (416)
865-4284, lucy.becker@AGF.com

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