AGF Reports September 2009 Mutual Fund Sales

TORONTO , Oct. 2 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $44.1 billion as at September 30, 2009 , an increase of 7.5% from August 31, 2009 , marking the seventh consecutive month of increasing AUM. The month-over-month increase in total AUM was partly attributable to approximately $1.8 billion in new institutional mandates.

On a year-over-year basis, overall AUM increased 2.0% from $43.2 billion . Net redemptions of long-term mutual funds were $80.1 million for the month ended September 30, 2009 , compared with long-term mutual fund net redemptions of $158.0 million in September 2008 .

    
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    ($ millions)                    Gross
                       Assets at    Sales   Redemptions Net Sales  Net Sales
                       September  September  September  September  September
                         30/09       2009       2009       2009       2008
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    Long-term Funds      $22,247     $196.1     $276.2     $(80.1)   $(158.0)
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    Money Market             537        7.7       22.5      (14.8)      (9.3)
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    Total Mutual Funds   $22,784     $203.8     $298.7     $(94.9)   $(167.3)
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    Institutional and
     Strategic Accounts
     + High-net-worth     21,310
    -----------------------------
    Total Assets         $44,094
    -----------------------------
    

Average daily mutual fund AUM for September 2009 was $22.6 billion . AGF institutional, strategic and high-net-worth AUM increased to $21.3 billion from $19.9 billion at September 2008 .

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, services for institutional and high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With approximately $44.1 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: AGF Management Limited shareholders and analysts, please contact: Greg Henderson, CA, Senior Vice-President and Chief Financial Officer, [phone], [email protected]; Deirdre Neary, Director, Investor Relations, [phone], [email protected] Media, please contact: Lucy Becker, Vice-President, Corporate Communications, [phone], [email protected]