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

    TORONTO, March 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending
February 28, 2007. Total AUM increased by 5.92% in February to $750.0 million
with a year to date increase of 9.27% and a 19.89% increase compared to
February 28, 2006.
    Mavrix reported Net Sales of $7.8 million on Gross Sales of $21.5 million
for Mavrix Mutual Funds for the month ended February 28, 2007. Net Sales were
2.4 times greater than February 2006's results.
    Mavrix also announced the final closing of the Mavrix Explore Quebec
2007-I FT Limited Partnership (LP) on February 27, 2007 which raised total
proceeds of $21.1 million which exceeds the total raised by the previous
Mavrix Explore Quebec 2006 FT LP offering by over 50%. On February 28, 2007,
Mavrix announced the initial closing of the Mavrix Explore 2007-I FT LP which
raised gross proceeds of $16.5 million. A second closing for this resource
limited partnership is scheduled to occur on March 20, 2007. Total gross
proceeds raised by Mavrix Limited Partnerships for the month of February were
$25.4 million.
    "Robust fund sales, successful resource LP IPO's and positive performance
in February boosted our AUM which is a combination of our mutual funds and
specialty funds," said David Balsdon, Vice-President and Secretary-Treasurer,
"We continue to see greater sales momentum in our growth and small cap mutual
funds plus the ongoing success of our resource LP program."

                Assets as at         Assets as at         Assets as at
                February 28, 2007    December 31, 2006    February 28, 2006
    Mavrix      $510,857,430         $493,163,106         $453,643,912
    Specialty   $239,136,313         $193,223,889         $171,902,856
    Total       $749,993,743         $686,386,995         $625,546,768


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

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