AGF Reports Strong March Mutual Fund Sales



    March 2007 gross sales were highest for any March in company history

    TORONTO, April 3 /CNW/ - AGF Management Limited (AGF) today reported the
highest gross sales for any month of March in the history of the company.
Gross sales of long-term funds were $755.2 million and net sales of long-term
funds were $396.7 million for the month ended March 31, 2007.
    "The momentum in our mutual fund business has continued in the month of
March," said Blake Goldring, chairman and chief executive officer, AGF
Management Limited, "Mutual fund performance, strong sales and growth in our
PIM and Institutional assets have resulted in total assets under management
reaching over fifty-three billion, up thirty seven per cent from the prior
year".

    
    -------------------------------------------------------------------------
    ($ millions)  Assets at  Gross Sales Redemptions   Net Sales  Net Sales
                 March 31/07  March 2007  March 2007  March 2007  March 2006
    -------------------------------------------------------------------------
    Long-term
     funds           $29,140      $755.2      $358.5      $396.7       $63.5
    -------------------------------------------------------------------------
    Money market         442        24.0        19.6         4.4       ($0.2)
    -------------------------------------------------------------------------
    Total mutual
     funds            29,582      $779.2      $378.1      $401.1       $63.3
    -------------------------------------------------------------------------
    Institutional
     + PIM            23,854
    -------------------------------------------------------------------------
    Total Assets      53,436
    -------------------------
    

    Average daily mutual fund AUM for March 2007 were $29.1 billion. AGF
private investment management (PIM) and institutional AUM grew 66.0% to
$23.9 billion up from $14.4 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 $53.4 billion up 36.9% from $39.0 billion
for the same period last year.
    The strategy in AGF's 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. Net sales of international equity funds
for the month ended March 31, 2007 were $131.0 million.
    AGF's relationship management efforts have continued. AGF has worked to
solidify relationships with financial advisors in the domestic market. On the
institutional side, AGF is furthering plans to expand its reach both in Canada
and abroad.
    AGF continually builds on the rigour and discipline in its investment
management process. This has resulted in AGF being recognized by external
parties on numerous occasions. AGF's most recent investment management
accolades were five awards at the 2007 Lipper Fund Awards, which were
announced on March 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 Private Investment
Management, Institutional Account Services and AGF Trust GICs, loans and
mortgages. With approximately $53 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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