Mavrix Fund Management Inc. reports Sales and Assets under Management Results for December 2007

    TORONTO, Jan. 2 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending
December 31, 2007. Total AUM decreased by 1.77% in December to $636 million
and a 7.35% decrease compared to December 31, 2006.
    Mavrix reported Net Redemptions of $10.1 million on Gross Sales of
$3.2 million for Mavrix Mutual Funds for the month ended December 31, 2007.
    "While our AUM had virtually flat performance for December, our mutual
fund transaction activity was adversely impacted by volatile markets and tax
loss selling," said David Balsdon, Vice-President and Secretary-Treasurer.

               AUM as at         AUM as at         AUM as at
               December 31,      December 31,      December 31,
               2007              2006              2005
    Mavrix     $457,522,479      $493,163,106      $438,087,328
    Specialty  $178,429,473      $193,223,889      $155,813,316
    Total      $635,951,952      $686,386,995      $593,900,644

    All amounts are expressed in Canadian dollars.

    Mavrix Fund Management Inc. is a growing Canadian asset management
company with shares listed on the Toronto Stock Exchange. Its stock symbol is

    %SEDAR: 00020385E

For further information:

For further information: Mavrix Fund Management Inc., Toll Free:
1-888-964-3533, Direct: (416) 362-3077 Or visit our website at

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