Mavrix Fund Management Inc. reports Sales and Assets under Management Results for August 2007



    TORONTO, Sept. 4 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending
August 31, 2007. Total AUM decreased by 5.43% in August to $681.4 million with
a year to date decrease of 0.73% and a 3.92% increase compared to August 31,
2006. The decline was driven by market turbulence as Mavrix produced net
inflows in aggregate from sales activity of its mutual funds and a resource
limited partnership IPO.
    Mavrix reported Net Redemptions of $11.1 million on Gross Sales of
$8.5 million for Mavrix Mutual Funds for the month ended August 31, 2007. On
August 30, 2007, Mavrix announced the closing of the Mavrix Quebec 2007-II FT
LP that raised gross proceeds of $23 million. This result represents the most
successful Quebec-based resource LP IPO issued by Mavrix to date. The LP will
invest in a diversified portfolio of flow-through shares issued primarily by
mining companies with exploration activities in the province of Quebec.
    On August 31, 2007, Mavrix announced the filing of the preliminary
prospectus of the Mavrix Explore 2007-II FT Limited Partnership (the "LP").
The LP will invest in a diversified portfolio of flow-through shares issued
primarily by mining companies that engage in exploration activities in Canada.
    "Given the impact of the market correction in August, we were very
gratified to attract more than $31 million in gross inflows for our mutual
funds and a resource LP to demonstrate the continued strength in these
programs," said David Balsdon, Vice-President and Secretary-Treasurer.

    
    -------------------------------------------------------------------------
                       AUM as at         AUM as at           AUM as at
                       August 31, 2007   December 31, 2006   August 31, 2006
    -------------------------------------------------------------------------
    Mavrix Mutual
     Funds                $510,194,412       $493,163,106       $494,191,732
    -------------------------------------------------------------------------
    Specialty Funds       $171,200,553       $193,223,889       $161,495,110
    -------------------------------------------------------------------------
    Total Assets          $681,394,965       $686,386,995       $655,686,842
    -------------------------------------------------------------------------

    All amounts are expressed in Canadian dollars.
    

    Mavrix Fund Management Inc. is a growing Canadian asset management
company with shares listed on the Toronto Stock Exchange. Its stock symbol is
MVX.

    %SEDAR: 00020385E




For further information:

For further information: contact Mavrix Fund Management Inc., Toll Free:
1-888-964-3533, Direct: (416) 362-3077, Or visit our website at
www.mavrixfunds.com

Organization Profile

MAVRIX FUND MANAGEMENT INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890