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

    TORONTO, Feb. 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending January
31, 2008. Total AUM decreased by 10.26% in January to $570.1 million and a
19.40% decrease compared to January 31, 2007.
    Mavrix reported Net Redemptions of $19.7 million on Gross Sales of
$3.2 million for Mavrix Mutual Funds for the month ended January 31, 2008.
    "Declining volatile equity markets plus the perception of economic
uncertainty by investors gave rise to the results Mavrix posted this month."
said David Balsdon, Vice-President and Secretary-Treasurer.

               AUM as at         AUM as at         AUM as at
               January 31,       December 31,      January 31,
               2008              2007              2007
    Mavrix     $413,313,899      $457,522,479      $498,896,234
    Specialty  $157,393,162      $178,429,473      $209,169,316
    Total      $570,707,061      $635,951,952      $708,065,650

    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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