AGF Garners Two Coveted Group Honours At 2009 Lipper Awards

    Wins Best Overall Fund Family and Best Mixed Asset Fund Family Awards

    AGF Canadian Balanced Fund recognized as Best Canadian Equity Balanced

    TORONTO, April 29 /CNW/ - AGF Funds Inc. took home two of the four group
trophies and one individual fund trophy at last night's Lipper Fund Awards in
    Lipper awarded AGF as the Best Overall Fund Family and the Best Mixed
Asset Fund Family for having the best overall risk-adjusted performance,
relative to its peers in both categories, over a three-year period ending
December 31, 2008.
    AGF Canadian Balanced Fund, managed by Senior Vice-President and
Portfolio Manager Christine Hughes, was also recognized with a trophy as Best
Canadian Equity Balanced Fund in recognition of the Fund's exceptional
performance over one year, relative to its peers. The Fund also received two
certificates for having the best three- and five-year returns in the Canadian
Equity Balanced category.
    "We are thrilled that Lipper has recognized AGF as a leader in the
Canadian investment industry, honouring us with these prestigious awards,"
said AGF Management Limited Chairman and Chief Executive Officer Blake
Goldring. "These accolades indicate the strength and quality of our investment
management capabilities as well as our product lineup, from mutual funds to
managed asset programs. At AGF, we are committed to offering the best
investment solutions possible to help investors reach their financial goals."

    In addition to the three trophies, the following AGF funds also received
certificates in their respective categories:

    -   AGF Elements Yield Portfolio: best 1-year returns in the Global Fixed
        Income Balanced category, managed by AGF Funds Inc.

    -   AGF Global Real Estate Equity Class: best 1-year returns in the Real
        Estate Equity category, managed by Stephen Way

    -   AGF Global Health Sciences Class(*): best 3-year returns in the
        Health Equity category, managed by Martin Hubbes and Tony Genua

    -   AGF Emerging Markets Fund: best 5-year returns in the Emerging
        Markets Equity category, managed by Patricia Perez-Coutts

    "Winning these awards represents a collective effort by an incredible
team of talented portfolio managers and analysts," said Martin Hubbes,
Executive Vice-President and Chief Investment Officer. "Our team appreciates
this recognition from Lipper and will continue to focus on delivering
consistent long-term performance for Canadian investors."
    The Lipper Fund Awards program highlights funds that have excelled in
delivering consistently strong risk-adjusted performance, relative to peers.
In Canada, trophies were awarded to winning funds over one year within the 20
largest CIFSC classifications according to assets under management.
    Lipper, a Reuters company, is a global leader in supplying mutual fund
information, analytical tools and commentary. It provides research on more
than 140,000 funds, domiciled in 45 countries and assets in excess of US$10

    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 award-winning mutual
funds, 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 $34.5
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".

    (*) AGF Global Health Sciences Class is being merged into AGF Global Equity
Class effective on or about May 22, 2009.

For further information:

For further information: or to obtain AGF's backgrounder chronicling the
firm's award-winning history, contact AGF Corporate Communications: Lucy
Becker, Vice-President, (416) 865-4284,; Karen Archer,
Media Relations Manager, (416) 865-4295,

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