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

    TORONTO, Nov. 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending October
31, 2007. Total AUM increased by 3.09% in October to $742.0 million with a
year to date increase of 8.10% and a 7.82% increase compared to October 31,
    Mavrix reported Net Redemptions of $8.8 million on Gross Sales of
$7.9 million for Mavrix Mutual Funds for the month ended October 31, 2007. On
October 16, 2007, Mavrix announced the final closing of the Mavrix Explore
2007-II FT LP that raised gross proceeds of $16.2 million to bring the final
proceeds to the maximum of $50 million. The LP will invest in a diversified
portfolio of flow-through shares issued primarily by mining companies with
exploration activities in Canada.
    "As was the case for September, strong sales of Mavrix specialty funds
more than offset the results for Mavrix mutual funds in October. Rebounding
market performance for the majority of our funds also helped improve our AUM."
said David Balsdon, Vice-President and Secretary-Treasurer.

                           AUM as at           AUM as at           AUM as at
                    October 31, 2007   December 31, 2006    October 31, 2006
    Mavrix Mutual
     Funds              $507,299,367        $493,163,106        $514,673,116
    Specialty Funds     $234,693,682        $193,223,889        $173,508,636
    Total Assets        $741,993,049        $686,386,995        $688,181,752


    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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