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



    TORONTO, June 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending May 31,
2009. Total AUM increased by 11.65% in May to $307.5 million with a year to
date increase of 19.45% and a one year decrease of 44.87% compared to May 31,
2008.
    Mavrix reported Net Sales of $0.4 million on Gross Sales of $7.0 million
for Mavrix Mutual Funds for the month ended May 31, 2009.
    On May 29, 2009, Mavrix announced the filing of the final prospectus of
the Mavrix Explore 2009-I 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. There will
be an initial closing scheduled for June 4, 2009. Previous to this latest
offering, Mavrix has raised over $475 million through 16 resource limited
partnerships.
    "Most of our funds had another good month in terms of performance," said
David Balsdon, CCO, Secretary-Treasurer and Vice President. "Gross Sales
continue to improve, primarily in our resource and small cap equity funds as
well as our conservative income oriented funds."

    
    -------------------------------------------------------------------------
                AUM as at        AUM as at        AUM as at        AUM as at
                   May 31,        April 30,     December 31,          May 31,
                     2009             2009             2008             2008
    -------------------------------------------------------------------------
    Mavrix
     Mutual
     Funds   $268,845,860     $242,651,221     $219,430,243     $437,304,047
    -------------------------------------------------------------------------
    Specialty
     Funds    $38,666,754      $32,771,922      $38,000,417     $120,499,891
    -------------------------------------------------------------------------
    Total
     Assets
     Under
     Manage-
     ment
     (AUM)   $307,512,614     $275,423,143     $257,430,660     $557,803,938
    -------------------------------------------------------------------------
    All amounts are expressed in Canadian dollars.

    About Mavrix Fund Management Inc.
    ---------------------------------
    

    Mavrix Fund Management Inc. (TSX: MVX) 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. Additional information about Mavrix can be found at
www.mavrixfunds.com.

    %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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