AGF Reports December 2007 Mutual Fund Sales

    TORONTO, Jan. 3 /CNW/ - AGF Management Limited (AGF) reported gross sales
of long-term funds of $319.4 million and net sales of long-term funds of
$3.7 million for the month ended December 31, 2007. Total mutual fund assets
under management (AUM) were $29.7 billion as at December 31, 2007.
    "Market volatility has continued as we start fiscal 2008 and this
volatility has served to slow overall industry sales," said Blake C. Goldring,
Chairman and Chief Executive Officer, AGF Management Limited. "We remain
focused on our fundamentals and long-term objectives during these times of
market uncertainty as this will position us well for future success."

    ($ millions)  Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                   December     December     December   December   December
                      31/07         2007         2007       2007       2006
     funds           29,305        319.4        315.7        3.7      182.9
    Money market        411         12.9         17.4       (4.5)      (0.9)
    Total mutual
     funds           29,716        332.3        333.1       (0.8)     182.0
     + private
     client          23,612
    Total Assets     53,328

    Average daily mutual fund AUM for December 2007 were $29.8 billion. AGF
institutional and private client AUM grew 9.3% to $23.6 billion, up from
$21.6 billion one year ago. In December 2007 we closed a CDN$26 million
Canadian resources subadvisory mandate with a client in Japan. Institutional
and private client assets are up due to investment performance and new
mandates. Total fee-earning AUM, including mutual funds, institutional and
private client, were $53.3 billion, up 8.1% from $49.3 billion at December 31,

    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 Institutional Account Services, private client products, and AGF
Trust GICs, loans and mortgages. With approximately $53 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: Greg Henderson, Senior Vice-President and Chief
Financial Officer, (416) 865-4156,; Media, please
contact: Lucy Becker, Vice-President, Corporate Communications, (416)

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890