Mavrix Fund Management Inc. reports Sales and Assets Under Management Results for December 2008

    TORONTO, Jan. 5 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported assets under management (AUM) and sales for the month ending December
31, 2008. Total AUM decreased by 3.0% in December to $257.4 million, and
decreased by 59.5% compared to December 31, 2007.
    Mavrix reported net redemptions of $6.0 million on gross sales of $2.0
million for Mavrix Mutual Funds for the month ended December 31, 2008.
    "Improving valuations in the resource sector lifted the AUM of our
resource limited partnerships to end a very difficult year in the markets,"
said David Balsdon, CCO and Secretary-Treasurer. "The bulk of gross sales of
Mavrix Mutual Funds remain in conservative income oriented portfolios such as
Mavrix Balanced Monthly Pay Fund, Mavrix Money Market Fund, Mavrix Dividend &
Income Fund and Mavrix Strategic Bond Fund."

                                     AUM as at     AUM as at     AUM as at
                                    December 31,  November 30,  December 31,
                                        2008          2008          2007
    Mavrix Mutual Funds             $219,430,243  $230,625,687  $457,522,479
    Specialty Funds                 $ 38,000,417  $ 34,768,108  $178,429,473
    Total Assets Under Management
     (AUM)                          $257,430,660  $265,393,795  $635,951,952
    All amounts are expressed in Canadian dollars.

    About Mavrix Fund Management Inc.

    Mavrix Fund Management Inc. (TSX: MVX) 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,
Winnipeg, Calgary, and Vancouver. 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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