Mavrix Fund Management Inc. reports Sales and Assets under Management Results for July 2009

    TORONTO, Aug. 4 /CNW/ - Mavrix Fund Management Inc. ("Mavrix") today
reported Assets under Management (AUM) and sales for the month ending July 31,
2009. Total AUM increased by 2.97% in July to $323.1 million with a year to
date increase of 25.51% and a one year decrease of 34.95% compared to July 31,
    Mavrix reported Net Sales of $0.2 million on Gross Sales of $5.1 million
for Mavrix Mutual Funds for the month ended July 31, 2009.
    Mavrix announced the final closing for the Mavrix Explore 2009-I FT
Limited Partnership (the "LP") on July 16, 2009. Total gross proceeds from
this initial public offering amounted to $6.55 million. The LP will invest in
a diversified portfolio of flow-through shares issued primarily by mining
companies that engage in exploration activities in Canada. Previous to this
latest offering, Mavrix has raised over $475 million through 16 resource
limited partnerships.
    "Mavrix experienced its fifth straight month of increasing AUM due to
improving sales results and fund performance." said David Balsdon, CCO,
Secretary-Treasurer and Vice President.

                     AUM as at      AUM as at      AUM as at      AUM as at
                       July 31,       June 30,   December 31,       July 31,
                          2009           2009           2008           2008
    Mavrix Mutual
     Funds        $275,592,528   $269,288,736   $219,430,243   $385,090,066
     Funds         $47,497,683    $44,478,805    $38,000,417   $111,625,703
    Total Assets
     (AUM)        $323,090,211   $313,767,541   $257,430,660   $496,715,769

    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 and
Winnipeg. Additional information about Mavrix can be found at

    %SEDAR: 00020385E

For further information:

For further information: Mavrix Fund Management Inc. at (416) 362-3077,
1-888-964-3533 or

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