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 families."
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 authorities.
For further information:
AGF MANAGEMENT LIMITED SHAREHOLDERS, ANALYSTS AND MEDIA, PLEASE CONTACT:
Robert J. Bogart
Executive Vice-President and Chief Financial Officer
416-865-4264, [email protected]
Senior Vice-President, Finance
416-865-4203, [email protected]