AGF Reports February 2010 Mutual Fund Sales

TORONTO, March 2 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $43.8 billion as at February 28, 2010, an increase of 34.4% from February 28, 2009.

    
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    ($ millions)   Assets at  Gross Sales  Redemptions  Net Sales  Net Sales
                   February   February     February     February   February
                   28/10      2010         2010         2010       2009
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    Long-term Funds $21,654        $266.0       $362.4     $(96.4)    $(34.1)
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    Money Market        422           8.3         26.6      (18.3)      (7.4)
    -------------------------------------------------------------------------
    Total Mutual     22,076        $274.3       $389.0    $(114.7)    $(41.5)
    Funds
    -------------------------------------------------------------------------
    Institutional
    and Strategic
    Accounts +
    High-net-worth   21,727
    -----------------------
    Total Assets    $43,803
    -----------------------
    

Net redemptions of long-term mutual funds were $96.4 million for the month ended February 28, 2010 compared with long-term mutual fund net redemptions of $34.1 million in February 2009.

Average daily mutual fund AUM for February 2010 increased to $22.0 billion compared to $18.7 billion in February 2009 as a result of market appreciation. AGF institutional, strategic and high-net-worth AUM increased to $21.7 billion from $14.5 billion at February 2009 as a result of market appreciation and new mandates.

About AGF Management Limited

AGF Management Limited is one of Canada's premier investment solutions firms with offices across Canada and subsidiaries around the world. AGF's products and services include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, services for institutional and private clients, as well as AGF Trust GICs, loans and mortgages. With approximately $43.8 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: AGF Management Limited shareholders and analysts, please contact: Greg Henderson, CA, Senior Vice-President and Chief Financial Officer, [phone], [email protected]; Deirdre Neary, Director, Investor Relations, [phone], [email protected]; Media, please contact: Lucy Becker, Vice-President, Public Relations and Public Affairs, [phone], [email protected]