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

    TORONTO, Oct. 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today
reported Assets under Management (AUM) and sales for the month ending
September 30, 2007. Total AUM increased by 5.63% in September to $719.8
million with a year to date increase of 4.86% and a 10.39% increase compared
to September 30, 2006.
    Mavrix reported Net Redemptions of $9.6 million on Gross Sales of
$5.1 million for Mavrix Mutual Funds for the month ended September 30, 2007.
On September 27, 2007, Mavrix announced the closing of the Mavrix Explore
2007-II FT LP that raised gross proceeds of $33.8 million. This result
represents the largest initial closing for a resource LP IPO issued by Mavrix
to date. The LP will invest in a diversified portfolio of flow-through shares
issued primarily by mining companies with exploration activities in Canada.
The final closing is scheduled to occur on or before October 16, 2007.
    On September 28, 2007, Mavrix announced the filing of the preliminary
prospectus of the Mavrix TSX Venture Graduation Fund (the "Fund"). The Fund
has been created to provide investors with the potential for capital
appreciation through exposure to an actively managed portfolio of
growth-oriented, small capitalization companies, selected primarily from the
TSX Venture Exchange.
    "Strong sales of Mavrix specialty funds more than offset the results for
Mavrix mutual funds. Rebounding market performance for the majority of our
funds also helped improve our AUM," said David Balsdon, Vice-President and

                                AUM as at        AUM as at        AUM as at
                              September 30,     December 31,    September 30,
                                   2007             2006             2006
    Mavrix Mutual Funds       $508,842,218     $493,163,106     $506,118,640
    Specialty Funds           $210,832,195     $193,223,889     $145,937,092
    Total Assets              $719,774,413     $686,386,995     $652,055,732

    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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