TORONTO, Dec. 2 /CNW/ - AGF Management Limited reported total fee-earning assets under management (AUM) of $43.0 billion as at November 30, 2010, a decrease of 3.6% from November 30, 2009.
| ($ millions) | Assets at November 30/10 | Gross Sales November 2010 |
Redemptions November 2010 | Net Sales November 2010 | Net Sales November 2009 |
| Long-term Funds | $21,892 | $265.1 | $371.5 | $ (106.4) | $ (82.4) |
| Money Market | 372 | 5.9 | 30.2 | (24.3) | (12.6) |
| Total Mutual Funds | $22,264 | $271.0 | $401.7 | $ (130.7) | $ (95.0) |
| Institutional and Strategic Accounts + High-net-worth |
20,749 | ||||
| Total Assets | $43,013 |
Net redemptions of long-term mutual funds for the month ended November 30, 2010 were $106.4 million compared with long-term mutual fund net redemptions of $82.4 million in November 2009.
Average daily mutual fund AUM for November 2010 was $22.5 billion compared to $22.8 billion in November 2009. AGF institutional, strategic and high-net-worth AUM decreased to $20.7 billion from $21.9 billion at November 2009, reflecting new mandates and market growth, offset by redemptions throughout the year.
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 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:
Robert J. Bogart, CPA
Senior Vice-President and Chief Financial Officer
416-865-4264, [email protected]
Deirdre Neary
Director, Investor Relations
416-815-6268, [email protected]
Media, please contact:
Lucy Becker
Vice-President, Public Relations and Public Affairs
416-865-4284, [email protected]
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