New AGF Global Dividend Fund Broadens Global Equity Line-Up

    Monthly cash flow and tax-deferral benefits now also offered on many

    TORONTO, Aug. 20 /CNW/ - AGF Funds Inc. today unveiled the new AGF Global
Dividend Fund, offering investors the combined benefits of global
diversification and the potential for reduced performance volatility.
    "Advisors told us they wanted a global dividend fund from AGF to build
more global diversification and reduce volatility in their clients'
portfolios," said AGF Funds Inc. President Randy G. Ambrosie. "AGF Global
Dividend Fund complements our line-up of award-winning equity funds and builds
on our demonstrated record of success in managing global equities."
    Investors are increasingly diversifying their portfolios with global
funds, as demonstrated by the almost $1 billion in net sales that flowed into
Canadian global dividend funds just in the first quarter of 2007.
    "Our new AGF Global Dividend Fund is an attractive alternative for
Canadians who are living longer and will need a balance of income and capital
growth investments to sustain their lifestyles throughout their retirement,"
explained Ambrosie.
    Senior Vice-President and Portfolio Manager Stephen Way will manage the
Fund, with support from AGF's Global Equity Team. Way, with nearly 20 years of
industry experience, also manages AGF Global Equity Class and AGF World
Companies Fund, which are both top-quartile performers in their category.
    Following Way's proven conservative growth philosophy, the AGF Global
Dividend Fund will seek long-term total returns by investing primarily in
dividend-paying equity securities around the world. The Fund will be broadly
diversified, without significant sector or geographic concentration.
    "AGF Global Dividend Fund will appeal to equity investors seeking both
capital growth and reduced performance volatility," Way said. "Dividend-paying
stocks provide regular income streams and a volatility cushion that can act as
a buffer if the markets fall. The opportunity for dividend growth resulting
from a company's financial success should also help to generate long-term
capital growth."
    AGF also announced the addition of Series V and T options on many of its
funds, offering investors tax-deferral benefits and monthly cash payouts
targeted at 5% and 8% annually, respectively.
    "Income investors will appreciate the tax efficiency and stable cash flow
of Series V and T," Ambrosie said. "Both series will allow advisors to
construct diversified portfolios tailored to their clients' individual
investment objectives and cash flow needs."
    Series V will be offered on AGF Global Dividend Fund, AGF Canadian
Balanced Fund, AGF Canadian Large Cap Dividend Fund, AGF Canadian Real Value
Balanced Fund, AGF Canadian Stock Fund, AGF International Value Fund, AGF
World Balanced Fund, AGF Elements Balanced Portfolio and AGF Elements Growth
    Series T will be offered on AGF Canadian Large Cap Dividend Fund, AGF
Canadian Stock Fund, AGF International Value Fund, AGF World Balanced Fund and
AGF Elements Growth Portfolio.
    As a result of the creation of Series V on AGF Canadian Balanced Fund,
AGF will remove the targeted distribution from this Fund. Investors in AGF
Canadian Balanced Fund will be able to switch to the new Series V option with
no tax consequences.

    About AGF Management Limited

    AGF Management Limited is one of Canada's premier investment management
companies with offices across Canada and subsidiaries around the world. 2007
marks AGF's 50th anniversary of providing Canadians with innovative investment
solutions across the wealth continuum. AGF's products and services include a
diversified family of more than 50 mutual funds, the evolutionary AGF Elements
portfolios, the Harmony asset management program, AGF Institutional Account
Services, private client products, and AGF Trust GICs, loans and mortgages.
With approximately $55 billion in total assets under management, AGF serves
more than one million investors. AGF trades on the Toronto Stock Exchange
under the symbol "AGF.B".

For further information:

For further information: or fact sheets about the AGF Global Dividend
Fund or the Fund Manager contact: AGF Corporate Communications: Paul Howard,
Director, (416) 865-4345,; Karen Archer, Media Relations
Specialist, (416) 865-4295,

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