AGF continues to report strong mutual fund sales

    July 2007 gross sales were highest for any July in company history

    TORONTO, Aug. 2 /CNW/ - AGF Management Limited (AGF) again broke a
record, reporting gross sales of long-term funds of $419.1 million for the
month of July 2007. This represents the highest gross sales for any month of
July in the history of the company. Net sales of long-term funds for the month
ended July 31, 2007 were $137.0 million.
    "I am very pleased with the strength of our mutual fund business over the
summer months," said Blake Goldring, chairman and chief executive officer, AGF
Management Limited. "We appreciate the confidence that advisors have shown in

    ($ millions)    Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                   July 31/07   July 2007    July 2007   July 2007  July 2006
     funds             30,041        419.1        282.1      137.0      60.0
    Money market          479         19.2         15.9        3.3      (6.3)
    Total mutual
     funds             30,520        438.3        298.0      140.3      53.7
    Institutional +
     private client    24,066
    Total Assets       54,586

    Average daily mutual fund AUM for July 2007 were $30.9 billion. AGF
institutional and private client AUM grew 68.5% to $24.1 billion up from
$14.3 billion one year ago. Institutional and private client assets are up due
to investment performance, new mandates and the acquisition of 80% of
Highstreet Partners Limited. Total fee-earning AUM, including mutual funds,
institutional and private client were $54.6 billion up 42.6% from
$38.3 billion at July 31, 2006.
    Sales of AGF's international mutual funds and managed account programs
remain strong as Canadian advisors look for innovative solutions for their
clients and continue to allocate more investment dollars outside of Canada.  
Net sales of international equity funds for the month ended July 31, 2007 were
$30.6 million.
    AGF continually builds on the rigour and discipline of its investment
management process. This has resulted in impressive investment performance. 
AGF had 76% of its assets above median over one year and 73% of its assets
above median for the 3 and 10 year periods ending June 30, 2007.

    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. 2007
marks AGF's 50th anniversary of providing Canadians with innovative investment
solutions across the wealth continuum. 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 Institutional Account
Services, Private Client Products, and AGF Trust GICs, loans and mortgages.
With approximately $55 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: AGF Management Limited shareholders and
analysts, please contact: Adrian Basaraba, Vice President, Finance and
Investor Relations, (416) 865-4203,; Media, please
contact: Lucy Becker, Vice President, Corporate Communications, (416)

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