Mavrix Fund Management Inc. reports Sales and Assets under Management Results for February 2008

    TORONTO, March 3 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending February
29, 2008. Total AUM increased by 2.33% in February to $584 million with a year
to date decrease of 8.17% and a 22.13% decrease compared to February 28, 2007.
    Mavrix reported Net Redemptions of $12.2 million on Gross Sales of
$4.1 million for Mavrix Mutual Funds for the month ended February 29, 2008.
The majority of the gross redemptions were in funds holding income trusts
continuing the trend since the last federal government pronouncement on income
trust taxation.
    "Fund performance drove our overall AUM increase for the month,
particularly in our resource and small cap funds plus our SRI fund, the Mavrix
Sierra Equity Fund." said David Balsdon, Vice-President and

                         AUM as at     AUM as at     AUM as at     AUM as at
                 February 29, 2008    January 31,  December 31,  February 28,
                                            2008          2007          2007
    Mavrix Mutual
    Funds             $409,433,860  $413,313,899  $457,522,479  $510,857,430
    Specialty Funds   $174,551,974  $157,393,162  $178,429,473  $239,136,313
    Total Assets      $583,985,834  $570,707,061  $635,951,952  $749,993,743

    All amounts are expressed in Canadian dollars.

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

    %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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