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

    TORONTO, April 3 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending
March 31, 2007. Total AUM decreased by 5.92% in March to $720.0 million
largely due to a timing gap between Mavrix Resource Limited Partnership
rollovers and the current Mavrix Limited Partnership offering with a year to
date increase of 4.89% and a 7.55% increase compared to March 31, 2006.
    Mavrix reported Net Sales of $40.9 million on Gross Sales of
$107.0 million for Mavrix Mutual Funds for the month ended March 31, 2007. The
majority of the sales activity was due to two Mavrix Limited Partnership
rollovers into the Mavrix Multi Series Fund that occurred on March 9th, 2007.
    On March 20, 2007, Mavrix announced the second closing of the Mavrix
Explore 2007-I FT LP which raised gross proceeds of $41.5 million to date. A
final closing for this resource limited partnership is scheduled to occur on
April 25, 2007. Total gross proceeds raised by Mavrix Limited Partnerships so
far in 2007 total $62.6 million.
    "We saw modest net sales for our core funds outside of the rollover
activity, particularly in our growth and small cap funds," said David Balsdon,
Vice-President and Secretary-Treasurer, "In fact, Mavrix Mutual Funds AUM
finished March 2007 at a record high. The April closing for our Mavrix Explore
2007-I LP will replenish our Specialty Funds AUM subsequent to the rollover
activity in March."

                           Assets as at    Assets as at       Assets as at
                           March 31, 2007  December 31, 2006  March 31, 2006
    Mavrix Mutual Funds    $551,753,058    $493,163,106       $501,673,177
    Specialty Funds        $168,224,655    $193,223,889       $167,765,305
    Total Assets           $719,977,713    $686,386,995       $669,438,482

    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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