AGF reports October 2009 mutual fund sales

TORONTO , Nov. 3 /CNW/ - AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $43.3 billion as at October 31, 2009 , an increase of 14.8% from October 31, 2008 . Net redemptions of long-term mutual funds were $65.2 million for the month ended October 31, 2009 , compared with long-term mutual fund net redemptions of $214.2 million in October 2008 .

    
    -------------------------------------------------------------------------
    ($ millions)                    Gross
                       Assets at    Sales   Redemptions Net Sales  Net Sales
                        October    October    October    October    October
                         30/09       2009       2009       2009       2008
    -------------------------------------------------------------------------
    Long-term Funds      $21,705     $229.2     $294.4     $(65.2)   $(214.2)
    -------------------------------------------------------------------------
    Money Market            519        12.1       25.2      (13.1)     (18.2)
    -------------------------------------------------------------------------
    Total Mutual Funds   $22,224     $241.3     $319.6     $(78.3)   $(232.4)
    -------------------------------------------------------------------------
    Institutional and
     Strategic Accounts
     + High-net-worth     21,119
    -----------------------------
    Total Assets         $43,343
    -----------------------------
    

Average daily mutual fund AUM for October 2009 increased to $22.7 billion compared to $20.9 billion in October 2008 as a result of market appreciation. AGF institutional, strategic and high-net-worth AUM increased to $21.1 billion from $17.3 billion at October 2008 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 $43.3 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]