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

    TORONTO, Aug. 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending July 31,
2007. Total AUM decreased by 2.09% in July to $720.5 million with a year to
date increase of 4.97% and a 12.08% increase compared to July 31, 2006.
    Mavrix reported Net Redemptions of $3.0 million on Gross Sales of
$9.8 million for Mavrix Mutual Funds for the month ended July 31, 2007.
    On July 26, 2007, Mavrix announced the filing of the preliminary
prospectus of the Mavrix Quebec 2007-II FT LP. The LP will invest in a
diversified portfolio of flow-through shares issued primarily by mining
companies with exploration activities in the province of Quebec.
    "Fund transaction volume reflected typical lower summer activity levels.
We saw profit taking in our small cap and resource funds due to market
turbulence which impacted this month's sales results," said David Balsdon,
Vice-President and Secretary-Treasurer.


                        AUM as at         AUM as at            AUM as at
                        July 31, 2007     December 31, 2006    July 31, 2006
    Mavrix Mutual Funds  $536,378,282      $493,163,106         $483,268,651
    Specialty Funds      $184,145,693      $193,223,889         $159,574,852
    Total Assets         $720,523,975      $686,386,995         $642,843,503

    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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