Primerica Concert Funds to Continue Investment in AGF Funds
TORONTO, Nov. 19, 2013 /CNW/ - AGF Investments Inc., (AGFI) and PFSL
Fund Management Ltd., and PFSL Investments Canada Ltd., today announced
the six-year extension of their Fund of Funds relationship agreement.
The two organizations have been working together since 1986.
Under the extended agreement, in which both parties have been operating
since 2006, PFSL, the trustee and investment fund manager of Primerica
Concert Funds, will continue to invest directly in a tailored group of
AGF Funds. The AGF-Primerica relationship was also strengthened by an
additional agreement solidified in October of 2012, which supports the
Primerica Common Sense Funds. AGF will continue to support the needs of
over 10,000 of Primerica's representatives.
"We are proud of our association with AGF which began more than two
decades ago," said Glenn Williams, President, Primerica, Inc. "This
unique relationship led to the launch of the Primerica Concert Series
of Funds in 1997. This extension solidifies the commitment of two great
companies working toward ensuring the financial success of Canadian
For over 55 years, AGF has remained one of the largest independent
global investment management firms. With similar company roots,
Primerica, the largest independent financial services marketing company
in North America, shares in AGF's mission of helping Canadian investors
reach their financial goals.
With the reaffirmation of this agreement, both AGF and Primerica will
continue to deliver on their commitment to providing investment
management excellence and superior client service.
"With a strong track record and impressive distribution channel,
Primerica represents an enduring and important relationship and we are
very pleased to extend our agreement," said Blake C. Goldring, Chairman
and Chief Executive Officer, AGF Management Limited. "For more than 20
years, AGF and Primerica have shared common values and an unwavering
focus on helping clients reach their financial goals. We look forward
to our continued relationship."
ABOUT AGF MANAGEMENT LIMITED
AGF Management Limited is one of Canada's premier independent investment
management firms with offices across Canada and subsidiaries around the
world. AGF's products include a diversified family of award-winning
mutual funds, mutual fund wrap programs and pooled funds. AGF also
manages assets on behalf of institutional investors including pension
plans, foundations and endowments as well as for private clients. With
approximately $37 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.
Primerica, Inc., headquartered in Duluth, GA, is a leading distributor
of financial products to middle income households in North America.
Primerica representatives educate their Main Street clients about how
to better prepare for a more secure financial future by assessing their
needs and providing appropriate solutions through term life insurance,
which we underwrite, and mutual funds, annuities and other financial
products, which we distribute primarily on behalf of third parties. In
addition, Primerica provides an entrepreneurial full or part-time
business opportunity for individuals seeking to earn income by
distributing the company's financial products. We insured more than 4
million lives and had over 2 million client investment accounts at
December 31, 2012. Primerica stock is included in the S&P MidCap 400
and the Russell 2000 stock indices and is traded on The New York Stock
Exchange under the symbol "PRI".
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Forward-looking
statements include statements that are predictive in nature, depend
upon or refer to future events or conditions, or include words such as
'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative
versions thereof and similar expressions, or future or conditional
verbs such as 'may,' 'will,' 'should,' 'would' and 'could.'
Forward-looking statements are based on certain factors and
assumptions, including expected growth, results of operations, economic
factors, business prospects, business performance and opportunities.
While the company considers these factors and assumptions to be
reasonable based on information currently available, they may prove to
be incorrect. Forward-looking statements are not guarantees of future
performance, and actual events and results could differ materially from
those expressed or implied by forward-looking statements due to, but
not limited to, important risk factors such as level of assets under
management, volume of sales and redemptions of investment products,
performance of investment funds and of investment managers and
advisors, competitive fee levels for investment management products and
administration, and competitive dealer compensation levels and cost
efficiency in our investment management operations, as well as interest
and foreign-exchange rates, taxation, changes in government
regulations, unexpected judicial or regulatory proceedings, and the
company's ability to complete strategic transactions and integrate
acquisitions. The company cautions that the foregoing list is not
exhaustive. The reader is cautioned to consider these and other factors
carefully and not place undue reliance on forward-looking statements.
Forward-looking statements are given only as at the date of this
release and other than specifically required by applicable laws, the
company is under no obligation (and expressly disclaims any such
obligation) to update or alter the forward-looking statements, whether
as a result of new information, future events or otherwise. Additional
risks and uncertainties can be found in our MD&A for the fiscal year
ended November 30, 2012 under the headings "Caution Regarding
Forward-Looking Statements" and "Risk Factors and Management of Risk"
and in our other filings with Canadian securities regulatory
For further information:
AGF MANAGEMENT LIMITED SHAREHOLDERS, ANALYSTS AND MEDIA, PLEASE CONTACT:
Robert J. Bogart
Executive Vice-President and Chief Financial Officer
Senior Vice-President, Finance