Mavrix Fund Management Inc. announces temporary management and service fee reductions for Mavrix Money Market Funds

    TORONTO, Aug. 18 /CNW/ - In response to ongoing low short-term interest
rates, Mavrix Fund Management Inc. ("Mavrix") has announced temporary
management and service fee reductions for both of its money market funds. This
temporary action is designed to ensure investors will continue to receive a
reasonable rate of return and will also result in a lower MER (management
expense ratio). The trailing service fees paid to dealers from the management
fee will also be temporarily reduced for both of the money market funds.
    "These temporary fee reductions are in the best interests of the
unit-holders of our money market funds. We believe this is an important step
to evidence Mavrix's support of our money market fund products in unusual
market conditions to the benefit of both unit-holders and their investment
advisors." said David Balsdon, CCO, Secretary-Treasurer and Vice-President.

    Funds subject to the temporary management and service fee reductions:

    Mavrix Money Market Fund
    Mavrix Multi Series Fund Ltd. - Short Term Income Series

    About Mavrix Fund Management Inc.

    Mavrix Fund Management Inc. is an asset management company founded and
operated by experienced portfolio managers. The company offers a focused
lineup of concentrated, actively managed funds that aim to complement
mainstream funds. Mavrix supports its products by providing financial advisors
with regular and direct access to portfolio managers and unbiased commentary,
which has enabled the company to become a trusted advisor to its clients.
Mavrix is headquartered in Toronto with offices in Halifax, Montreal and
Winnipeg. Additional information about Mavrix can be found at

    %SEDAR: 00020385E

For further information:

For further information: contact Mavrix Fund Management Inc. at (416)
362-3077, 1-888-964-3533 or

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