Mavrix Fund Management Inc. reports Sales and Assets under Management Results for August 2009



    TORONTO, Sept. 2 /CNW/ - Mavrix Fund Management Inc. ("Mavrix") today
reported Assets under Management (AUM) and sales for the month ending August
31, 2009. Total AUM increased by 3.24% in August to $333.5 million with a year
to date increase of 29.57% and a one year decrease of 29.27% compared to
August 31, 2008.
    Mavrix reported Net Sales of $15.9 million on Gross Sales of $21.6
million for Mavrix Mutual Funds for the month ended August 31, 2009. A
significant portion of the Gross Sales was attributable to two Limited
Partnership rollovers.
    On August 26, 2009, Mavrix announced the filing of the preliminary
prospectus of the Mavrix Québec 2009 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 Québec. Previous
to this latest offering, Mavrix has raised over $480 million through 17
resource limited partnerships.
    "Mavrix experienced its sixth straight month of increasing AUM due to
improving sales results and fund performance." said David Balsdon, CCO,
Secretary-Treasurer and Vice President.

    
    -------------------------------------------------------------------------
                     AUM as at      AUM as at      AUM as at      AUM as at
                     August 31,       July 31,   December 31,     August 31,
                          2009           2009           2008           2008
    -------------------------------------------------------------------------
    Mavrix Mutual
     Funds        $300,530,468   $275,592,528   $219,430,243   $378,911,322
    -------------------------------------------------------------------------
    Specialty
     Funds         $33,014,820    $47,497,683    $38,000,417    $92,660,939
    -------------------------------------------------------------------------
    Total Assets
     Under
     Management
     (AUM)        $333,545,288   $323,090,211   $257,430,660   $471,572,261
    -------------------------------------------------------------------------

    All amounts are expressed in Canadian dollars.

    About Mavrix Fund Management Inc.
    ---------------------------------
    
    Mavrix Fund Management Inc. is an asset management company founded and
operated by experienced portfolio managers. The company offers a focused
lineup of concentrated, actively managed funds that aim to complement
mainstream funds. Mavrix supports its products by providing financial advisors
with regular and direct access to portfolio managers and unbiased commentary,
which has enabled the company to become a trusted advisor to its clients.
Mavrix is headquartered in Toronto with offices in Halifax, Montreal and
Winnipeg. Mavrix's parent company is GrowthWorks Ltd. GrowthWorks Ltd. venture
capital division specializes in the management and growth of regionally based
venture capital funds. GrowthWorks Ltd. has combined assets under management
of over $1 billion.

    %SEDAR: 00020385E




For further information:

For further information: Mavrix Fund Management Inc. at (416) 362-3077,
1-888-964-3533 or www.mavrixfunds.com

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MAVRIX FUND MANAGEMENT INC.

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