AGF Global Balanced High Income Fund To Be Terminated

    TORONTO, May 1 /CNW/ - AGF Funds Inc. today announced that AGF Global
Balanced High Income Fund will be terminated on or about July 6, 2009.
Effective today, units of AGF Global Balanced High Income Fund will no longer
be available for purchase.
    The decision to terminate the Fund was driven by a combination of the
small number of unitholders, relatively low assets and the costs associated
with maintaining such a small fund.
    Prior to the termination on or about July 6, 2009, unitholders of the
Fund will have the option to switch their investment to any of AGF's
diversified family of mutual funds or to redeem their units.
    Any unitholders who hold AGF Global Balanced High Income Fund in an AGF
registered account and who remain in the Fund on July 3, 2009 will have their
holdings redeemed and re-invested into the Front-End (FE) mutual fund series
of AGF Canadian Money Market Fund.
    For those unitholders who hold AGF Global Balanced High Income Fund in a
non-registered account or a non-AGF registered account, including all
self-directed accounts under a nominee or intermediary, AGF will liquidate any
remaining holdings of the Fund at fair market value on or about July 6, 2009.
A final distribution of any income and capital gains, if any, will be made on
July 3, 2009 and the remaining net assets will be distributed to unitholders
on or about July 6, 2009.
    Unitholders will not be required to pay any redemption fees or sales
    AGF strongly encourages unitholders to consult with their financial
advisor to discuss their individual circumstances, including possible tax
consequences, and determine the solution that best meets their investment

    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.

For further information:

For further information: AGF Corporate Communications, Lucy Becker,
Vice-President, (416) 865-4284,; Christine Ramsay,
Communications Manager, (416) 815-6321,

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