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

    TORONTO, April 2 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending March
31, 2009. Total AUM increased by 3.8% in March to $255.6 million with a
year-to-date decline of 0.7% and a one year decrease of 53.0% compared to
March 31, 2008.
    Mavrix reported Net Sales of $5.0 million on Gross Sales of $12.7 million
for Mavrix Mutual Funds for the month ended March 31, 2009. A significant
portion of the Gross Sales was attributed to the rollover of the Mavrix
Explore 2007-I FT LP into the Mavrix Multi Series Fund - Explorer Series on
March 20, 2009.
    "The majority of our fund line-up posted improving performance in March,"
said David Balsdon, CCO, Secretary-Treasurer and Vice President. "We continue
to see steady net sales in our conservative income oriented mutual fund, the
Mavrix Balanced Monthly Pay Fund. We remain very encouraged by the strong
year-to-date performance of the Mavrix Explorer Fund, our primary natural
resource mutual fund."

                          AUM as at     AUM as at     AUM as at     AUM as at
                          March 31,  February 28,  December 31,     March 31,
                              2009          2009          2008          2008
    Mavrix Mutual
     Funds            $226,735,894  $208,789,094  $219,430,243  $457,124,480
    Specialty Funds    $28,912,600   $37,597,219   $38,000,417   $86,739,587
    Total Assets Under
     (AUM)            $255,648,494  $246,386,313  $257,430,660  $543,864,067

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

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