AGF Reports September 2009 Mutual Fund Sales

TORONTO, Oct. 2 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $44.1 billion as at September 30, 2009, an increase of 7.5% from August 31, 2009, marking the seventh consecutive month of increasing AUM. The month-over-month increase in total AUM was partly attributable to approximately $1.8 billion in new institutional mandates.

On a year-over-year basis, overall AUM increased 2.0% from $43.2 billion. Net redemptions of long-term mutual funds were $80.1 million for the month ended September 30, 2009, compared with long-term mutual fund net redemptions of $158.0 million in September 2008.

    
    -------------------------------------------------------------------------
    ($ millions)                    Gross
                       Assets at    Sales   Redemptions Net Sales  Net Sales
                       September  September  September  September  September
                         30/09       2009       2009       2009       2008
    -------------------------------------------------------------------------
    Long-term Funds      $22,247     $196.1     $276.2     $(80.1)   $(158.0)
    -------------------------------------------------------------------------
    Money Market             537        7.7       22.5      (14.8)      (9.3)
    -------------------------------------------------------------------------
    Total Mutual Funds   $22,784     $203.8     $298.7     $(94.9)   $(167.3)
    -------------------------------------------------------------------------
    Institutional and
     Strategic Accounts
     + High-net-worth     21,310
    -----------------------------
    Total Assets         $44,094
    -----------------------------
    

Average daily mutual fund AUM for September 2009 was $22.6 billion. AGF institutional, strategic and high-net-worth AUM increased to $21.3 billion from $19.9 billion at September 2008.

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, services for institutional and high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With approximately $44.1 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, Corporate Communications, (416) 865-4284, lucy.becker@AGF.com

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