AGF Adds Emerging Markets Manager To Harmony Overseas Equity Pool

    Principal Global Investors to Manage Dedicated Emerging Markets Component

    TORONTO, April 21 /CNW/ - AGF Funds Inc. announced today it is adding a
dedicated emerging markets equities component and manager to Harmony Overseas
Equity Pool, effective May 2, 2008.
    "Investors in Harmony Overseas Equity Pool will gain broader exposure and
better diversification through investments in emerging markets, which span
more than 25 countries around the world," said AGF Funds Inc. President Randy
Ambrosie. "They will also benefit from a dedicated emerging markets manager
whose specific expertise is analyzing, researching and investing in these
    The emerging markets component will be managed by Principal Global
Investors, which has more than 13 years experience and manages more than
US$4.8 billion in emerging markets mandates (as at December 31, 2007).
Principal's emerging markets portfolio has delivered consistent, strong
long-term performance. The firm's management team combines quantitative and
fundamental bottom-up research to select investments in companies with
improving business fundamentals, rising investor expectations and attractive
valuations. Its emerging markets portfolio will be broadly diversified across
countries and regions.
    The target allocation for the emerging markets portion of Harmony
Overseas Equity Pool is a maximum of ten per cent. Harris Associates and
McKinley Capital will continue to manage the remainder of the Pool, which has
more than $500 million in assets.
    Principal Global Investors is a diversified institutional asset manager
and wholly-owned affiliate of Principal Financial Group, with more than
US$240 billion in assets under management. Principal was selected to manage
the emerging markets portion of Harmony Overseas Equity Pool by Wilshire
Associates Incorporated, which provides its independent, third-party money
management expertise to allocate assets, select managers and construct
portfolios for AGF's Harmony managed asset program.
    Harmony provides investors with access to a managed asset program
offering seven distinct portfolios and six investment pools managed by leading
institutional fund managers.

    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. 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 Asset Management Group services for institutional and
high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With
approximately $50 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: contact AGF Corporate Communications: Lucy
Becker, Vice-President, (416) 865-4284,; Karen Danylak,
Director, (416) 865-4308,; Karen Archer, Media Relations
Specialist, (416) 865-4295,

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